CVC’s Glendower Raises $5.8 Billion for Secondaries Fund (2)

CVC Capital Partners’ secondary buyout specialist Glendower Capital has raised $5.8 billion for its latest fund.

The firm closed Glendower Capital Secondary Opportunities Fund V at its hard cap, according to a statement Monday. It’s the first fund Glendower has raised since agreeing to be acquired by CVC in 2021.

London-based Glendower uses its money to buy existing portfolios of private equity fund holdings. The market for such deals has evolved as a way for buyout firms and their investors to rebalance allocations and draw on cash when needed.

The Glendower takeover also gave CVC a new strategy to ...