CVC Capital Partners has raised around €3bn for its latest European mid-market buyout fund, exceeding its initial €1.75bn target, according to a report by Bloomberg.
CVC Capital Partners Catalyst III will invest across sectors, targeting equity cheques of less than €250m. The strategy expands CVC’s private equity platform into smaller transactions, sitting below the firm’s €26bn flagship buyout fund.
Daniel Pindur, managing partner and chairman of the Catalyst executive committee, said the fund will focus primarily on healthcare, services and asset-light businesses, while avoiding asset-heavy sectors and taking a selective approach to software and technology.
The fund has already completed two investments, backing cybersecurity software provider WithSecure and prosthetics manufacturer WillowWood. CVC expects Catalyst III to make between 12 and 18 investments.
