CVC announced the final close of CVC Capital Partners Catalyst III at approximately €3 billion, or $3.4 billion. The fund is focused on European mid-market private equity opportunities.
The final fund size was almost double the original €1.75 billion target. CVC said the close reflected strong investor confidence in its long-term track record, platform, and ability to identify attractive opportunities across the European mid-market.
CVC Catalyst is a sector-agnostic private equity strategy focused on high-quality and growth-oriented mid-market businesses. The strategy targets equity investments below €250 million and is primarily focused on companies based in Europe.
The Catalyst strategy is designed to combine the agility of a dedicated mid-market platform with the broader advantages of the CVC Network. This includes access to CVC’s pan-European footprint of 16 country offices and five sector teams.
CVC Catalyst also leverages the CVC Europe/Americas Investment Committee and the value creation resources of the wider CVC platform. The firm said this allows its investment teams to stay active across a wide range of mid-market opportunities.
CVC has invested in European mid-market businesses for more than 40 years. The firm said the market continues to benefit from structural growth trends, founder succession dynamics, and demand from companies seeking strategic capital and operational support.
Catalyst III has already made two investments. These include the acquisitions of WithSecure in late 2025 and WillowWood in June 2026.
CVC said the fund has a strong pipeline of opportunities. The firm plans to support portfolio companies with operational expertise, strategic guidance, and access to its global network.
KEY QUOTES:
“This successful fund close marks an important milestone in the continued expansion of our leading Private Equity business. It not only reflects strong investor confidence in our long-term track record of delivering value across market cycles, but also the trust our investors place in our platform, people and ability to innovate across private markets. Building on the deep strengths of the CVC Network, CVC Catalyst further enhances our ability to partner with high-quality businesses and management teams across the exciting and rapidly evolving European mid-market opportunity.”
Rob Lucas, CEO of CVC
“We are grateful for the strong support we have received from our existing long-term investors and new investor relationships. We believe the current market environment presents a highly attractive backdrop for the CVC Catalyst strategy and we are excited about the pipeline of opportunities we are seeing across our EU/US network. By leveraging CVC’s local rooted global platform, deep sector expertise and longstanding relationships, we are very well-positioned to build a high-quality and diversified European focused mid-market portfolio for our investors.”
Daniel Pindur, Managing Partner, Co-Head DACH and Chairman of the Catalyst Executive Committee
