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.