International private equity firm Cinven has held the final close of its latest flagship fund, the Eighth Cinven Fund (‘Fund 8’), at its hard cap of $14.5bn (€13.2bn), nearly 30% larger than its 2019 vintage predecessor fund.
According to Stuart McAlpine, Managing Partner of Cinven, Fund 8 will build on the firm’s previous investment approach, “investing in control positions in growth-oriented, market leading, cash generative companies with resilient characteristics where we can accelerate growth through our active management, and deliver break-out returns”.
To date, the Cinven Funds have completed investments in more than 150 portfolio companies across Europe and in North America, realised or listed more than 115 investments and returned proceeds of circa €47bn to the Cinven Funds.
Originally founded as the private investment arm of the British Coal pension scheme in 1977, Cinven became independent in 1995; raised its first fund in 1996; and has raised funds of more than €50 billion in aggregate to date.
