Brexit be damned: Cinven hauls in €7B for sixth fund
June 30, 2016
Amid (and in spite of) the market tumult surrounding the U.K.’s vote to leave the EU, Cinven has closed a new Europe-focused investment vehicle—the largest European buyout fund thus far in 2016, according to the PitchBook Platform. The Sixth Cinven Fund hit its hard cap of €7 billion within four months and was oversubscribed by twice its target. That investor confidence, according to Cinven partner Alexandra Hess, is attributable to the firm's track record through "different economic cycles [and] industry and market conditions."
With seven offices across Europe, including two in the U.K., Cinven focuses on transactions that require an equity investment of €100 million or more. The new fund will continue the firm's current strategic diversity, investing across an array of sectors and geographies. Cinven's prior vehicle closed on €5 billion in 2013.