Luxembourg-based private equity firm CVC Capital Partners, which commands an AUM of nearly $200 billion across US, Asia and EMEA regions, has closed its sixth and latest Asia-focussed vehicle with a corpus 50% higher than its predecessor raised in 2020.
The CVC Capital Partners Asia VI Fund (Asia VI) has received commitments worth $6.8 billion compared to $4.5 billion raised for its fifth vehicle for investments in the continent.
With this vehicle, CVC now stands as one of the leading investors in Asia having secured commitments worth $21 billion in total so far.
Asia VI will focus on control, co-control and partnership investments in high quality businesses in core consumer and services sectors across Asia. CVC has been active in Asia since 1999 and in this time, it has made more than 80 acquisitions in the region, the firm said in a statement.
In India, the investor is a backer of platforms like IPL team Gujarat Titans, Healthcare Global, United Lex and chemicals company Sajjan India.
It raised its stake in oncology chain Healthcare Global last year in June by acquiring an additional 2.5% stake for Rs 114 crore.
"With the successful close of Asia VI, we will continue to leverage our industry expertise, pan-regional local office presence and the global CVC network to identify investment opportunities and partner with founders and management teams, in the fast-growing Asian private equity markets,” said Sigit Prasetya, managing partner and head of CVC Asia in the statement.
In November 2023, Reuters reported the biggest PE firm in Europe postponed plans for its long-awaited European initial public offering for the year.
Apart from its Asia-focussed portfolio, CVC manages six other investment strategies namely CVC Europe/Americas, CVC Strategic Opportunities, CVC Growth, CVC Secondaries, CVC Credit and CVC Infrastructure.
“We have invested significantly in CVC Asia over recent years. It is one of the growth engines for our private equity platform and we look forward to the continued expansion and success of this strategy,” said Rob Lucas, managing partner, CVC in the statement.