Private equity firm Cinven is raising between €1.5bn and €2bn for a new mid-market fund, positioned as the successor to its Strategic Financials Fund (SFF), according to a report by Bloomberg citing unnamed sources familiar with the matter.
Building on the €1.5bn raised for SFF in 2022, the upcoming fund will expand beyond financial services to include tech-enabled services, reflecting Cinven’s broadened approach to mid-market investments. Details of the fundraise remain subject to change.
The move aligns with a wider industry trend as buyout firms increasingly pivot to mid-sized deals amid global dealmaking headwinds, including market volatility, evolving US trade policies, and geopolitical uncertainty.
Cinven reinforced its mid-market strategy last year by hiring partner Michael Weber, tasked with driving investments across technology, tech-enabled services, and financial services sectors.
Founded in 1977 and spun out from the British Coal pension plan in 1995, Cinven has raised over €50bn to date, with its latest flagship fund closing in 2024 with $14.5bn in commitments.
