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Cinven raises EUR10 billion for seventh fund

International private equity firm Cinven has closes its seventh fund at its hard cap of EUR10 billion.

The fund, which reached its hard cap in less than four months and was oversubscribed, follows a successful fundraising for the sixth Cinven fund, which reached its hard cap of EUR7 billion in four months in 2016.

Fund seven attracted significant support from longstanding investors, with a very high re-up rate. The diversified investor base comprises more than 180 investors representing more than 30 countries globally.

Cinven targets companies in which it can drive strategic growth and operational improvement, both in Europe and globally. Its functional specialists – the global Portfolio and Capital Markets teams – work closely with Cinven’s Sector and Regional teams to implement Cinven’s value creation strategies, resulting in revenue and profit growth both organically and through buy and build.  
 
Alexandra Hess, a Partner of Cinven and Head of Investor Relations, says: “It is a significant milestone for Cinven to have successfully concluded another fundraise in record time. It is testament to our longstanding investment performance through economic cycles, the strength of the Cinven team and the longstanding relationship Cinven has with its investors. 
 
“Importantly, the continued partnership with existing investors, coupled with the support of select new investors, demonstrates their confidence in the Fund’s investment strategy and expertise in our defined sectors. The Cinven team views its relationship with the investors in our Fund as a partnership, and we are grateful for their support in enabling us to complete the fundraise in less than four months.”
 
Stuart McAlpine, Managing Partner of Cinven, adds: “We have raised a Fund that is right-sized for the market opportunity, and, through Cinven’s Sector and Regional teams, we continue to identify attractive investment opportunities that we can target to define angles and strategies to step-change growth.
 
“Cinven has a first class track record in internationalising businesses and executing successful buy and build strategies; as well as in creating market leaders in domestic markets and working in close partnership with management teams. We continue to invest in our team of more than 170 people; this ensures that we continue to have the platform to deliver strong and sustainable growth to investors in our Fund and their beneficiaries, both today and in the future.” 

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