<article>Private equity firm CVC Capital Partners is looking to hit the first close of its fifth Asia fund with a target size between $4 billion and $5 billion by the first quarter of 2019, this portal has learnt.</article>

Private equity firm CVC Capital Partners is looking to hit the first close of its fifth Asia fund with a target size between $4 billion and $5 billion by the first quarter of 2019, this portal has learnt.
The PE firm has not officially launched the fund, but a person with knowledge of the matter said the pre-marketing feedback has been good and the official launch is expected &#8220;very soon&#8221;. CVC Capital is looking to deploy $1 billion every year from the fifth fund.
This portal <a href="https://www.dealstreetasia.com/stories/cvc-capital-fifth-asia-fund-98182/">had first reported</a> that CVC Capital is targeting to raise up to $5 billion for CVC Asia Fund V. The fifth fund&#8217;s predecessor, CVC Asia Fund IV, closed at $3.5 billion in May 2014. The source added that about 70 per cent of the fourth fund has been deployed, which gives the PE firm another year for full utilisation.
On top of that, CVC Capital is also looking to exit some of the investments made through its CVC Asia Fund IV as the fund life comes to an end. In total, CVC currently has over $70 billion of assets under management.
Through Fund IV, the firm has recently acquired <a href="https://www.dealstreetasia.com/stories/cvc-capital-munchy-99694/">100 per cent stake</a> of Malaysian homegrown snack brand Munchy parent in June, giving full exit for the company&#8217;s founders and investors including state civil pension fund KWAP.
This portal has also learnt that CVC Capital has confirmed its investment in Indonesia&#8217;s top snack maker PT GarudaFood Putra Putri Jaya, further consolidating its presence in the FMCG space. With the Indonesia deal, CVC Asia IV has made five investments in the past 12 months.
Also, one of its portfolio companies &#8211; 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.
CVC Capital holds a 24 per cent stake in QSR Brands.
It was reported that QSR Brands is looking to go public with an aim to raise around RM2 billion ($500 million), the largest IPO in Malaysia since the listing of integrated petrochemical producer Lotte Chemical Titan Holding Bhd last July. The estimated market capitalisation of QSR would be about RM6 billion ($1.5 billion) after listing.
Other Asia-focused vehicles undergoing fundraising activities include Hong Kong-based Baring Private Equity Asia, which has hit the first close at $4.5 billion for its seventh Asian Fund, Fund VII. The firm was said to be seeking up to $6 billion for the vehicle.
Also read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/cvc-capital-partners-targeting-to-raise-4b-for-fifth-asia-fund-report-103425/">CVC Capital Partners seeks $4b for fifth Asia fund, hard cap at $5b – Report</a>
<a href="https://www.dealstreetasia.com/stories/cvc-capital-said-to-invest-in-indonesias-top-snack-producer-garudafood-99659/">CVC Capital said to invest in Indonesia’s top snack producer GarudaFood</a>

PE firm CVC Capital Partners is looking to hit the first close of its fifth Asia fund with a target size between $4 billion and $5 billion by the first quarter of 2019.

Exclusive: CVC Capital Partners to hit first close for fifth Asia fund by Q1 2019

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Exclusive: CVC Capital Partners to hit first close for fifth Asia fund by Q1 2019

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