Cinven is raising between €1.5bn and €2bn for a new mid-market fund focused on financial and tech-enabled services, marking a strategic expansion of its investment mandate as global buyout firms double down on mid-sized opportunities.

The new vehicle, positioned as the successor to Cinven’s €1.5bn Strategic Financials Fund (SFF) launched in 2022, will build on the firm’s strength in financial services while extending into adjacent tech-enabled verticals. The move reflects a broader trend across private equity as sponsors navigate ongoing dealmaking headwinds and geopolitical volatility by targeting more resilient and scalable mid-market platforms.

The fundraise remains in its early stages and is subject to change, according to sources cited by Bloomberg.

Cinven has reinforced its mid-market push with the appointment of Michael Weber as partner, focused on investments in technology, tech-enabled services, and financial services.

Founded in 1977 and originally spun out of the British Coal pension fund, Cinven has raised more than €50bn to date. Its latest flagship fund closed in 2024 with $14.5bn in commitments, continuing the firm’s focus on sector-driven investing across Europe and North America.

Source: Bloomberg

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