London-based private equity firm CVC Capital Partners says that it has successfully raised US$3.5 billion for its fourth Asia Pacific fund, CVC Capital Partners Asia Pacific IV L.P., according to a company announcement.
The fundraising process took almost a year since June 2013. The latest fund, which reached its hard cap, aims to invest in businesses benefiting from increased consumer affluence and domestic demand in Greater China, Southeast Asia, Japan and Korea.
CVC has raised over US$10 billion for the Asia Pacific region, and completed over 46 investments in a wide range of industries.
"We’re entering an exciting new phase with our fourth Asia fund, and are well positioned to react to the changing landscape in Asia, whether that is the nascent buyout market in China, or the shifting demographics across the region," says Roy Kuan, managing partner at CVC.
Founded in 1981, CVC, with its branches in Asia, Europe and the U.S., has secured commitments of over US$60 billion globally in total.