CVC Capital Partners has closed its latest vehicle, Fund VII, on a hard cap of €15.5 billion. Contributions from the firm and its staff will bring the total available for investment to over €16 billion, with European and North American PE deals earmarked as the target.
Fund VII marks a watershed moment for European PE fundraising. It is by far the largest European buyout fund closed in the last seven years, according to PitchBook data.
CVC's last Europe- and North America-focused fund closed on €10.9 billion in 2013. Most recently, the firm agreed to acquire 80% of luxury Swiss watchmaker Breitling in April.
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