Regions

CVC Capital Partners Ltd had reported that it had raised more than Eur10.5 billion and US$13.7 billion for its latest flagship fund. As a result, they have reached the ceiling amount they can accept within six months and would be constrained to turn down further offers for investments.

This was confirmed by an anonymous source familiar with the matter last Thursday. 

According to a report from the Financial Times, CVC was said to have attracted pledges from investors totalling more than Eur14 billion. The buyout firm had commenced fundraising only last January with a goal of reaching Eur9 billion and a 'hard cap' of Eur10.5 billion. Under the rules, once the hard cap is reached, the company should seek consent from existing fund investors for any further receipt of investments.

CVC had declined to provide a comment on the matter or the Financial Times news report.

The fund named CVC European Equity Partners VI, offered deals to investors, such as no fees to be charged for 5% of commitments made before first close. This was confirmed by market research firm Preqin.