CVC Capital Partners said July 18 that it closed its latest strategic opportunities fund on 4.6 billion euros ($5.16 billion). The target for CVC Strategic Opportunities II was 4 billion euros ($4.48 billion). SO II invests in opportunities across Western Europe and North America which fall outside CVC’s traditional private equity strategies. CVC Strategic Opportunities I collected 3.9 billion euros.
Final close of CVC Strategic Opportunities II at €4.6 billion, surpassing its target
18 July 2019
Latest fundraising continues the successful track record for the platform, with CVC Strategic Opportunities I having secured commitments of €3.9 billion
CVC Capital Partners is pleased to announce the final close of CVC Strategic Opportunities II (“SO II”) with total commitments of €4.6 billion, surpassing the target of €4 billion.
SO II’s global investor base, made up of sovereign wealth, public and private pension funds, financial institutions, foundations, endowments and family offices, diversifies the platform’s overall investor mix and reflects the growing appetite for this type of longer life vehicle.
The Strategic Opportunities platform invests in long-term capital appreciation opportunities across Western Europe and North America which fall outside CVC’s traditional private equity strategies. The platform seeks out stable opportunities with attractive risk-reward profiles which require a longer term outlook to unlock growth. Since 2016, €3.6 billion has been committed by the platform in seven opportunities, the latest of which, GEMS Education, the world’s largest provider of private K-12 education by revenue, was announced last week.
Lorne Somerville, Co-Head CVC Strategic Opportunities said: “We are delighted to have closed CVC Strategic Opportunities II. We continue to believe this is an attractive and growing market, a belief that is clearly shared by our investors, given the success of this capital raising with a closing well above the €4 billion target.”
Jan Reinier Voûte, Co-Head CVC Strategic Opportunities added: “The Strategic Opportunities platform invests in high-quality businesses with longer growth horizons. Often this is done in partnership with families or foundations who are seeking additional capital and support from CVC’s global investment platform to take their businesses to the next stage of development. SO II will allow us to continue to support great companies with these resources.”