CVC raises over €10bn for European direct lending fund so far
CVC has raised over €10bn (£8.6bn) for its European Direct Lending strategy, significantly surpassing its €6bn target.
The final close of the EUDL IV fund is expected towards the end of the third quarter, making CVC a top three manager in European private credit.
In its half-year update, the group also said it expects to launch the fifth vintage of the strategy in 2026. It is also looking to widen its overall product offering over the next 12-18 months, it noted.
The group said that more than 40 per cent of the capital raised in the first half of the year for the strategy came from insurance clients, as CVC aims to “materially increase” its engagement with this channel.
Meanwhile, deployment of capital over the last 12 months in credit is up 81 per cent year-on-year to €10.3bn.
Read more: CVC raises over €1.3bn in two evergreen funds in under one year
“Building on our success in 2024, we have continued to deliver strong deployment, realisations, and portfolio performance, despite a volatile market backdrop,” commented Rob Lucas, chief executive.
“Importantly, we see good fundraising momentum across each of our strategies, underpinned by our investment track record, the depth of the CVC Network, our continued strong pace of realisations, and ever greater client interest in Europe.”
The group also noted that it has raised around €2bn for its evergreen private equity and private credit funds.
Read more: CVC Credit prices new €400m CLO
Read more: CVC Liquid Credit reports $7.9bn of CLO activity in H1
