International private equity firm Cinven has held the final close of its latest flagship fund, the Eighth Cinven Fund (‘Fund 8’), at its hard cap of $14.5bn (€13.2bn), nearly 30% larger than its 2019 vintage predecessor fund.
According to Stuart McAlpine, Managing Partner of Cinven, Fund 8 will build on the firm’s previous investment approach, “investing in control positions in growth-oriented, market leading, cash generative companies with resilient characteristics where we can accelerate growth through our active management, and deliver break-out returns”.
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To date, the Cinven Funds have completed investments in more than 150 portfolio companies across Europe and in North America, realised or listed more than 115 investments and returned proceeds of circa €47bn to the Cinven Funds.
Originally founded as the private investment arm of the British Coal pension scheme in 1977, Cinven became independent in 1995; raised its first fund in 1996; and has raised funds of more than €50 billion in aggregate to date.
Source: Private Equity News
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