U.K.-headquartered private equity firm Cinven closed its latest fund, the Eighth Cinven Fund, at its hard cap of $14.5 billion.
The fund focuses on healthcare, business services, industrials, financial services and consumer sectors, primarily in Western Europe, a news release said.
The fund is almost 30% larger than its 2019 vintage predecessor fund, Seventh Cinven Fund, for which Cinven also reached the hard cap of €10 billion ($11 billion).
In October 2022, the Ohio School Employees Retirement System, Columbus, approved a $49 million commitment to the fund. The New York State Common Retirement Fund committed $281 million in August the same year.
The Cinven Funds have completed investments in more than 150 portfolio companies across Europe and in North America, realized or listed more than 115 investments and returned proceeds of around €47 billion ($50.6 billion) to investors.
Cinven was founded within the British Coal pension funds in 1977, becoming independent in 1995. It raised its first independent fund in 1996.
