CVC Capital launches $5b fifth Asia vehicle, files with SEC

Shanghai skyline. Photo: Ralf Leineweber/Unsplash

Private equity firm CVC Capital Partners has officially launched its fifth Asia-focused vehicle that is looking to raise up to $5 billion, the largest ever fund raised by the firm.

The firm made a filing at the US Securities and Exchange Commission (SEC) on Thursday, officially launching the fund CVC Capital Partners Asia V. The amount to be raised by the fund and the commitments it has already received were not disclosed in the SEC filing.

The official launch comes after CVC is said to have received a positive pre-marketing feedback last year. The firm is believed to have been promised enough commitments to make the first close in the first quarter of this year, this portal had learnt earlier.

DEALSTREETASIA had first reported that the private equity firm was targeting to raise the multi-billion dollar fund and looking to deploy about $1 billion each year from the vehicle.

The firm did not respond to emailed query about the fund at the time of writing the article.

The fifth fund follows its predecessor CVC Asia Fund IV that had raised $3.5 billion in May 2014 and was over 70 per cent deployed. From the fourth fund, CVC acquired Malaysian homegrown snack brand Munchy parent in June last year. Among other investments include Indonesia’s top snack maker PT GarudaFood Putra Putri Jaya.

Another portfolio firm QSR Brands (M) Holdings Sdn Bhd which operates over 750 KFC outlets in Malaysia, Singapore, Cambodia, and Brunei, as well as over 450 Pizza Hut outlets in Malaysia and Singapore, will be listed on Bursa Malaysia by early next year and raise at least $500 million.

CVC Capital’s latest fifth fund will add to the cohort of large vehicles that have been raised in Asia or are currently on the fundraising trail. KKR last year closed a $9.3 billion fund focused on investments in private equity transactions across the Asia Pacific region.

Other PE majors who are on the list include TPG’s $4.5 billion Asia fund and Warburg’s $4 billion China-focused fund. Further, regional private equity players like Hillhouse Capital, Baring PE Asia and Primavera have also been adding to the capital ammunition.

Also Read:

CVC Capital Partners seeks $4b for fifth Asia fund, hard cap at $5b – Report

Warburg Pincus to raise up to $4b for second China-focused PE fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.