CVC Secondary Partners has closed its sixth global secondary private equity fund, Secondary Opportunities Fund VI, with $10 billion in aggregate capital commitments.
The fundraise represents a substantial increase from the firm’s prior Secondary Opportunities Funds, which raised $5.8 billion in 2023 and $2.7 billion in 2019.
More than 200 returning and new limited partners participated in SOF VI, with approximately half of the capital coming from investors that were new to the Secondary Opportunities Fund series.
SOF VI will continue CVC Secondary Partners’ focus on the private equity secondaries mid-market, targeting buyout fund investments managed by established general partners.
The fund employs a two-part strategy covering LP fund portfolio transactions and GP-led secondaries, with the goal of constructing a diversified global portfolio of private equity assets throughout its investment period.
CVC said growth in the fund reflects increasing institutional demand for liquidity and portfolio management solutions across the global private equity secondaries market.
CVC Secondary Partners currently manages approximately €20 billion in assets under management across private equity and credit secondaries and has a team of 60 dedicated investment professionals.
The broader CVC platform manages approximately €212 billion in assets globally across seven investment strategies spanning private equity, credit, infrastructure and secondaries.
CVC also sees opportunities to expand its secondaries business beyond traditional private equity into areas including credit and infrastructure secondaries.
KEY QUOTES:
“This is a very positive outcome for CVC Secondary Partners, reflecting the strength of our investment team, our 20-year track record in Secondaries markets and the confidence of our global institutional investor base.
Secondaries is an important and growing part of CVC’s leading global private markets platform, with €20 billion of assets under management and a clear runway for further growth. As demand for secondaries solutions continues to grow, CVC Secondary Partners is extremely well-positioned to continue to scale its private equity focused funds as well as expanding into newer attractive adjacencies such as Credit and Infrastructure Secondaries.”
Rob Lucas, CEO of CVC
“We are grateful for the support of our existing investors and pleased to welcome many new participants to the platform through this fundraise. The successful close of our sixth private equity Secondary Opportunities fund, at $10 billion, marks a significant milestone for CVC Secondary Partners as we continue our mission to be the secondaries partner of choice for LPs and GPs globally.
The opportunity for our balanced private equity secondaries strategy has never been greater. We continue to operate in a highly attractive market environment, where CVC’s global network and deep private equity investment expertise provide us with valuable advantages. We look forward to deploying the remaining capital with discipline and focus to capture compelling opportunities.”
Carlo Pirzio-Biroli, Managing Partner and Head of CVC Secondary Partners
