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Private Equity

Cinven closes 7th buyout fund at $11.1 billion, topping target

Cinven closed its Cinven VII fund at €10 billion ($11.1 billion) hard cap ahead of its target, a spokesman said.

The fund had a target of €8 billion, according to Preqin.

Cinven targets companies in which it can drive strategic growth and operational improvement, both in Europe and globally.

Among the buyout fund's investors were the $74.5 billion Oregon Public Employees Retirement System, Salem, and the $111.1 billion pension system New York State Teachers' Retirement System, Albany.

The fund's predecessor, Cinven VI, had a hard close of €7 billion in 2016.