CVC Capital Partners has raised €26bn ($29bn) for the largest private equity fund in history, defying a broader fundraising drought that has left many rivals struggling to raise cash.
In an interview with the Financial Times, Rob Lucas, managing partner at the European buyout firm, said the record haul had surpassed CVC’s original target of €25bn, and its previous fund of €21bn.
“When we announced at the beginning of the year that we were trying to raise the largest pool of capital in these market conditions and in record time, people thought we were a bit ambitious,” Lucas said.
Read the full story on the Financial Times here.