CVC Capital Closes 3rd Asia-Pacific Fund with $4.1 Billion

Filed in archive Private Equity on April 18, 2008

London-based buyout firm CVC Capital has a new $4.1 billion war chest to use in Asia. It's the largest private equity fund ever raised for the Asia-Pacific region, according to PE Hub.

The fund, CVC Capital Partners Asia Pacific III L.P., aims to invest in established companies in the most developed economies in the Asia Pacific region (Australia, Hong Kong, Japan, Singapore, South Korea and Greater China).

CVC's investments in the region include Australian media group PBL and Zhuhai Zhongfu, Chain's biggest drink-packaging company, Bloomberg is reporting.


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CVC has had two previous Asia funds. The first opened in 2000 with $750 million and the second opened in 2005 with $1.98 billion. Both funds have been very successful.

"This part of the world exhibits certain strong economic fundamentals and is an area in which we continue to see excellent opportunities,'' Chairman Michael Smith said in a statement.

Citigroup has been involved in managing the two previous funds, but it will take more of a back seat in this third fund and CVC while manage it directly.