The British private equity fund Cinven concluded at the end of August the fundraising process for its "Strategic Fund 2", after raising around 2.3 billion euros in committed capital. This amount implies exceeding the initially planned volume by almost 50%, as detailed by the firm in a statement.
Cinven specified that the "Strategic Fund 2" has received "broad support" from institutional investors, among which are numerous participants present in other vehicles of the manager, as well as a high reinvestment rate from investors of the first fund of this category.
This fund has already executed four operations in Objectway, Flint Global, Ongoing Warehouse, and Optio, with the first three companies controlled by their respective founders.
The volume of this vehicle implies an increase of nearly 75% compared to its predecessor, the "Strategic Financial Fund", and extends its specialized investment strategy beyond financial services, also incorporating business services, technology, media, and telecommunications.
According to the information provided by Cinven, this second strategic fund will concentrate its activity in Iberia, Germany, Austria, and Switzerland, in addition to the United Kingdom and Ireland, areas that the manager considers particularly attractive, and will be managed by a team of 16 professionals led by Luigi Sbrozzi and Michael Weber.
The funds managed by Cinven have generated more than 14 billion euros since January 2024 through 40 divestment operations, more than double the invested capital. Specifically, around 30% of the total value of the portfolio of these vehicles has materialized in the last twelve months up to June of this year.