CVC said to be plotting €12.5bn Fund VII

The global buyout house is rumoured to be returning to market with an offering in the first half of 2017.

CVC Capital Partners is in preliminary discussions with investors about launching a €12.5 billion buyout fund in the first half of 2017, according to media reports.

The fund, which will be the firm’s seventh flagship offering, will have a hard-cap of €15 billion, people familiar with the matter told Bloomberg.

CVC declined to comment to Private Equity International on the proposed fundraise.

The firm is currently investing CVC European Equity Partners VI, which closed on €10.9 billion in 2013. CVC ranked seventh in this year’s PEI 300, having amassed just under $23.5 billion over the last five years.

CVC is also investing its Strategic Opportunities Fund, a $4.5 billion vehicle which is expected to hold businesses for between eight and 12 years and is targeting mid-teen returns. Investments from that fund include a stake in UK roadside assistance company RAC, which it owns with Singaporean sovereign wealth fund GIC, and UK motorway service provider Moto.

In February the firm closed its first tech growth fund, CVC Growth Partners, on $1 billion. The fund will invest in high-growth mid-market companies in the software and technology-enabled business services sectors.