Private equity firm, CVC Capital Partners, has raised US$4.5 billion for its fifth Asia Pacific fund.
The CVC Capital Partners Asia Pacific V, or Fund V, exceeded its target of $4 billion. CVC said the demand was from both new and returning institutional investors.
The new fund is also larger than its $3.5 billion predecessor, CVC Capital Partners Asia Pacific IV LP.
CVC has a network of eight offices across Asia and focuses on businesses ranging from $250 million and $1.5 billion in value.
“To date, CVC has raised US$15 billion of commitments across its Asia Pacific funds and those funds have completed over 65 investments in a wide range of industries,” the firm said in a press statement.
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