CVC Raises €4.6 Billion for Longer-Life Private Equity Fund (1)

CVC Capital Partners Plc has raised €4.61 billion ($4.8 billion) for its latest private equity fund dedicated to longer-term investments.

CVC Strategic Opportunities III matches the size of the predecessor, according to a statement Tuesday. The fund puts capital to work for longer than the private equity industry’s typical four-to-five-year investment horizon. It will target investments in defensive sectors, using less leverage in exchange for lower returns.

“StratOps is an active private equity fund focused on creating long-term compounding returns for investors,” Lorne Somerville, managing partner and co-head of CVC’s strategic opportunities platform, said in an interview. “We are ...