Cinven closes latest fund with nearly $8 billion in commitments

Cinven announced Thursday the close of Cinven VI at its €7 billion ($7.8 billion) hard cap.

The European buyout fund reached the amount within four months of fundraising and surpassed its fundraising target of €5.5 billion, said a spokesman in an e-mail. About 90% of the fund’s committed capital came from investors in prior Cinven funds.

Investors in Cinven VI include the Oregon Investment Council, Tigard, which oversees the $68 billion Oregon Public Employees Retirement Fund; $178.1 billion New York State Common Retirement Fund, Albany; $128.2 billion Texas Teacher Retirement System, Austin; $104 billion Washington State Investment Board, Olympia; and $12.3 billion Ohio School Employees Retirement System.

Predecessor fund Cinven V closed at €5 billion in 2013.