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Private equity firm CVC Capital raises record $18 billion: Reuters

(Reuters) — CVC Capital Partners has raised 16 billion euros ($17.98 billion) for its latest flagship fund for private equity investments in Europe and North America, it said on Thursday.

The seventh fundraising by CVC is the largest by a European private equity firm, surpassing the 11.2 billion euros raised by Apax Partners in 2007 and the 10.5 billion euros CVC raised for its sixth fund in 2013.

Since it was founded in 198, CVC has raised a total of $107 billion, which it has used to invest in companies from Swiss luxury watchmaker Breitling to Formula One motor racing. It currently has $65 billion of assets under management.

Its latest fund had a hard cap of 15.5 billion euros and reached 16 billion euros with commitments from CVC and its employees, the firm said.

Photo: Euro banknotes are seen in this picture illustration taken in Prague January 21, 2013.  Reuters/David W Cerny