International private equity firm Cinven has announced the final close of its latest flagship fund, the Eighth Cinven Fund (Fund 8), having raised $14.5 billion (€13.2 billion) and reached the hard cap. And Fund 8 is nearly 30% larger than its 2019 vintage predecessor fund, Fund 7, for which Cinven also reached the hard cap.
During its almost 50-year history, Cinven focused on building world-class companies using its sector expertise. And Cinven has built deep, embedded local networks across Europe and has a growing presence in North America. Cinven’s international team works closely in a Sector-Regional approach to execute its proven investment strategy to create strong and stable returns for its investors. Cinven’s “one team” culture is fundamental to the firm’s values, philosophy, and ethos, and the success of the Fund 8 raise demonstrates the continued strong support by Cinven’s Limited Partners for its team and investment approach.
Cinven plans to build long-term, sustainable businesses that will grow, provide employment, and generate economic benefits in an environmentally and socially responsible manner. And at its core is a long and proven track record of investing successfully through economic cycles.
The Cinven Funds completed investments in more than 150 portfolio companies across Europe and North America, realized or listed more than 115 investments, and returned c. €47 billion in proceeds to the Cinven Funds.
Originally created as the private investment arm of the British Coal pension scheme in 1977, Cinven became independent in 1995, raised its first Fund in 1996, and has raised Funds of more than €50 billion in aggregate.
KEY QUOTES:
“Cinven has a long and proven track record of delivering strong and consistent performance to our investors. Our strategy for Fund 8 builds on the approach we have successfully deployed for previous Cinven Funds, investing in control positions in growth-oriented, market leading, cash generative companies with resilient characteristics where we can accelerate growth through our active management, and deliver break-out returns. We are very grateful to our Limited Partners for their continued support, and believe the investment opportunity for Fund 8 is very compelling.”
— Stuart McAlpine, Managing Partner of Cinven
“We greatly appreciate the support for Fund 8 that we have received from both longstanding and new investors. With their support, we have been able to complete another successful fundraise despite the difficult market backdrop. We believe market environments such as these support successful fund vintages for investors; particularly given Cinven’s experience identifying attractive opportunities across sectors and geographies in periods of volatility.”
— Alexandra Hess, Partner of Cinven and Head of Investor Relations
