Europe's Largest PEF CVC Capital Raises $6.8 Billion for 6th Asia Fund

Fund Target Amount Exceeds $6 Billion Cap

Europe's largest private equity firm, CVC Capital Partners (CVC Capital), announced on the 22nd that the fundraising for its sixth Asia-focused fund, 'CVC Capital Partners Asia VI (hereinafter Asia VI),' has been completed.

The Asia VI fund closed with commitments of $6.8 billion. Asia VI is 50% larger than its immediate predecessor, Asia V, which was raised in 2020 with $4.5 billion.

The fact that Asia VI exceeded its target of $6 billion and its fundraising cap is attributed to strong demand from both new and returning high-quality investors. Through the successful fundraising of the Asia VI fund, CVC's Asia platform has recorded commitments exceeding $21 billion solely from Asia-focused funds, establishing itself as one of the leading players in the region.

The remarkable growth of CVC Capital Partners' Asia platform is the result of focused investments by CVC Capital Partners' headquarters in the region over recent years. CVC has built an extensive network in Asia, enhanced deep local knowledge and sector expertise, and strengthened investment capabilities across the entire Asia region.

CVC Asia complements and leverages the extensive CVC network's relationships and knowledge, working closely with other regional private equity strategies within CVC to enhance fundamental capabilities and create sustainable value based on these strengths.

Meanwhile, Asia VI will focus on controlling and co-controlling high-quality businesses and partnership investments in key consumer and service sectors across Asia. Since entering Asia in 1999, CVC has completed over 80 acquisitions in the region.

Sigit Prasetya, Managing Partner and Head of CVC Asia, stated, "Following the successful closing of the Asia VI fundraising, we will continue to leverage CVC’s deep industry expertise, local offices spanning the region, and the global CVC network capabilities to identify attractive investment opportunities and partnerships with founders and high-quality management teams in the rapidly growing Asian private equity market."

Rob Lucas, Managing Partner at CVC, added, "CVC Capital has made significant investments in CVC Asia over recent years and has been encouraged by the excellent results. CVC Asia is one of the growth drivers of the CVC Capital private equity platform, and we look forward to the continued expansion and success of the Asia strategy."

Asia VI is the most recent successful fundraising campaign across CVC’s private equity, secondary, and credit strategies. CVC has exceeded fundraising caps in CVC Capital Partners Fund IX (€26 billion), Glentower Capital Secondary Opportunities Fund V ($5.8 billion), and CVC CLO Equity III ($800 million).

CVC manages a total of $199 billion (€188 billion) in assets under management (AUM) globally across seven complementary investment strategies, including CVC Europe-Americas, CVC Asia, CVC Strategic Opportunities, CVC Growth, CVC Secondary (Glentower), CVC Credit, and CVC Infrastructure (DIF Capital Partners).