In a financial conquest, global private equity titan Cinven, strategically advised by Simpson Thacher & Bartlett LLP, announced a triumphant closure of its eighth flagship fund, amassing a staggering $14.5 billion in commitments. The financial windfall will fuel strategic control investments in dynamic, growth-oriented companies.
Simpson Thacher Reps As Cinven Lands $14.5B For 8th Fund : Eighth Cinven Fund Breaks Barriers
Breaking through financial barriers, the Eighth Cinven Fund, colloquially known as Fund 8, effortlessly reached its hard cap, surging past its forerunner, Fund 7, which concluded in May 2019 with a commendable $11.2 billion in commitments. Cinven’s Managing Partner, Stuart McAlpine, unveiled the parallel strategy of Fund 8, mirroring its successful predecessors by seizing control positions in companies with resilient growth potential.
Strategic Investment Approach Unveiled
McAlpine underscored the blueprint, focusing on control positions in growth-oriented, cash-generative enterprises with distinctive resilience. Cinven envisions its active management as a catalyst for accelerated growth and groundbreaking returns. The firm is steadfast in its pursuit of building sustainable, socially responsible businesses that foster economic benefits and employment.
Cinven’s Unconventional Success in a Volatile Market
Cinven’s Partner and Head of Investor Relations, Alexandra Hess, expressed gratitude for the unwavering support from existing and new investors amid challenging market conditions. Despite the turbulent financial backdrop, Cinven believes these environments fortify successful fund vintages, leveraging their experience to identify opportunities across sectors and geographies during periods of volatility.
Robust Fund Support and Market Resilience
Fund 8 showcased a robust re-up rate from existing limited partners while welcoming a diverse array of new investors into the fold. The team credited this achievement to the steadfast support of both longstanding and new investors, defying market challenges and completing another successful fundraise.
Simpson Thacher Reps As Cinven Lands $14.5B For 8th Fund : Cinven’s Track Record and Vision
The combined force of Cinven’s funds has left an indelible mark, completing investments in over 150 portfolio companies across Europe and North America. With more than 115 investments realized and proceeds totaling approximately €47 billion ($51.3 billion), Cinven continues its legacy of financial prowess.
From British Coal Pension Scheme to Global Dominance
Originally emerging as the private investment arm of the British Coal pension scheme in 1977, Cinven gained independence in 1995. The financial titan raised its inaugural fund in 1996, solidifying its reputation as a global force in private equity.
Simpson Thacher Reps As Cinven Lands $14.5B For 8th Fund : Cinven’s Diverse Portfolio
Current portfolio highlights, according to the firm’s website, include Allegro, a Polish online marketplace boasting over 20 million registered users; Kurt Geiger, a European luxury footwear and accessories retailer; Netceed, a distributor of materials, tooling, and equipment for telecom and technology infrastructure; and group.one, a one-stop-shop for online presence solutions for small and medium-sized enterprises and small-office home offices.
Simpson Thacher’s Strategic Counsel
Guiding Cinven through this financial triumph, the Simpson Thacher team, led by funds partner Gareth Earl, played a pivotal role. The advisory squad included tax partners Nancy Mehlman and Bill Smolinski and regulatory partner Stephanie Biggs.
