CVC Credit, the global credit arm of private investment firm CVC, has held the final close of its fourth European Direct Lending fund, EUDL IV, with €10.4bn in total capital commitments to deploy across European private credit opportunities.
The fund marks a significant step up from CVC’s prior European Direct Lending vehicles, which raised €6.3bn in 2022 and €1.3bn in 2020.
The new fund has already committed to more than 30 investments, including KKR’s buyout of Immedica Pharma, Cinven’s acquisition of idealista, the acquisition and growth strategy of smartTrade, sole-lending for Innovative Beauty Group, and supporting Bridgepoint in delisting Alpha FMC from the AIM market.
Andrew Davies, Managing Partner, Head of CVC Credit, said: “We are extremely grateful for the continued trust and support of CVC’s global investor base. The European private credit market has developed significantly in recent years, driven by structural tailwinds and the increasing relevance of private credit within the wider credit ecosystem. We have capitalised on this market shift to scale our platform and deepen our resources, establishing CVC Credit as one of the top three private credit players in Europe.”
CVC Credit manages more than €48bn in total assets (€43bn of fee-paying AUM), with its Private Credit platform—including European Direct Lending and Capital Solutions strategies—holding over €18bn.
