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With the private funds industry preparing itself for uncertain
times following the Brexit vote, PEI’s Research & Analytics team have
looked at who the biggest players are in the UK and how they have reacted in
the wake of the referendum.
CVC Capital Partners leads fundraising, with $19 billion gathered
for closed-ended private equity funds since 2010. The close of CVC European
Equity Partners VI in 2013 at $14.5 billion was the largest across the period.
CVC Growth Partners also held a final close at €1 billion
in February and the firm is in preliminary discussions with investors about launching
a €12.5 billion seventh vehicle in the first half of 2017, with
a hard-cap of €15 billion.
Cinven was also among the top 10 managers, having raised
$14.8 billion. The Sixth Cinven Fund closed this month at €7 billion, receiving
strong support from public pensions, such as the New York State Common
Retirement Fund and the Ohio Police & Fire Pension Fund. Cinven corporate
affairs director Vanessa Maydon told Private
Equity International that the firm is re-evaluating its pipeline in light
of the referendum vote, although the
majority of potential opportunities are expected to be unaffected by the
Six of the top 10 UK-based fund managers currently have
vehicles in market, targeting $30.4 billion collectively.
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