CVC Capital Partners closed its latest Asia-Pacific private equity fund, CVC Capital Partners Asia Pacific V, at $4.5 billion, exceeding its $4 billion fundraising target, spokesman Kelly Holman said.
CVC Capital's fifth Asia-Pacific buyout fund is 29% larger than its predecessor, the $3.5 billion CVC Capital Partners Asia Pacific IV fund, which closed in 2014.
The new fund will invest in buyouts and make partnership investments in businesses in Asia's core consumer and services sectors.
Investors in the fund include Oregon Investment Council, which runs the $79.1 billion Oregon Public Employees Retirement Fund, Tigard.
