Private markets investment major CVC Capital Partners has activated three new funds — Americas Fund IX, Asia VI, and Strategic Opportunities III — due to “increasing deployment activity”.
Following the activation of €26.8bn Europe/Americas Fund IX — the largest private equity fund ever raised globally — and $6.8bn Asia VI — which is over 50% large than its predecessor fund — the vehicles will start charging management fees on committed capital. Meanwhile, predecessor funds Fund VIII and Asia V will also start charging fees on invested capital albeit at a lower rate.
For strategic opportunities, management fees are calculated as a percentage of invested capital with no “step down” post investment period.
