London, (ANTARA News/PRNewswire-AsiaNet) - CVC Capital Partners ("CVC") today announced that it had successfully raised US$4.1 billion from a range of both international institutional investors and high net worth individuals.
The fund, CVC Capital Partners Asia Pacific III L.P. ("Fund III"), aims to invest in established companies in the most developed economies in the Asia Pacific region (Australia, Hong Kong, Japan, Singapore, South Korea and Greater China).
Fund III, is the third Asian fund to be raised by CVC, and the biggest ever fund raised in the Asia Pacific region which underlines continued investor appetite for investment opportunities.
Fund III follows the success of CVC's previous fundraising in the region. This includes the CVC Capital Partners Asia Pacific L.P. ("Fund I"), which raised US$750m of commitments in 2000 and is one of the best performing Asian buyout funds of vintage year 2000, having invested US$525 million in 17 companies and generating significant cash returns.
CVC Capital Partners Asia Pacific II L.P. ("Fund II") closed in April 2005 with US$1,975 million of commitments. As at December 2007, Fund II was over 80 per cent invested having completed 12 transactions in six different countries. All of the funds, both in Europe and Asia, advised by CVC since 1996 have produced top quartile returns.
CVC has established a leading position in the Asia Pacific buyout market, having executed its proven methodology over an eight-year period, emphasising hands-on involvement in portfolio companies with a focus on long-term value creation and cash realisations to investors.
CVC Asia Pacific was named "Best Private Equity Fund" by Asian Investor magazine in 2007.
CVC believes that the Asia Pacific region will continue to evolve and present significant buyout opportunities.
Increased emphasis on shareholder value, more efficient governance structures and globalisation's pressure on optimisation are increasingly evident in the Asian arena, which CVC expects will result in continued increases in investment activity.
Citigroup is expected to be a significant investor in Fund III but will not be a joint venture partner for CVC Capital Partners with respect to Fund III.
The joint venture relationship with Citigroup will continue for the remainder of the terms of Funds I and II.
Michael Smith, Chairman of CVC commented: "The successful close of our third Asia Pacific Fund demonstrates the continued appetite for investment opportunities in the region. This part of the world exhibits certain strong economic fundamentals and is an area in which we continue to see excellent opportunities.
CVC greatly values its relationship with the LP's who have supported this new fund, many of whom have been with CVC since the inception of our business in Asia over nine years ago.
"We are delighted that demand remains strong among investors wishing to access this market and we value the long term relationships we have built with our investors both in Asia and in Europe.
"This fundraising is also a testament to the skills of the strong team of investment professionals at CVC who have made CVC's predecessor Asia Pacific Funds a success.
"It emphasises our local knowledge of the region and the extensive global network of contacts we have developed over the years."
For more information, please contact:
CVC Capital Partners
Claire Eilis: +44-207-420-4200
Brunswick
Sophie Brand/Leonora Pou: + 44-20-7404-5959
Notes to Editors
CVC Capital Partners is a leading global private equity firm with over US$19b in equity capital (Fund IV, Asia II, Tandem, Asia III). CVC was founded in 1981 and today has a network of 18 offices throughout Europe, Asia and the United States.
CVC Asia Pacific has a well-established local presence with 30 professional staff, working from five offices in the region (Hong Kong, Seoul, Tokyo, Sydney and Singapore). The teams have extensive execution capability in all key markets, namely Japan, Greater China, Australia, South Korea and Southeast Asia; and most have worked together at CVC Asia Pacific since its inception.
CVC Asia Pacific has been one of the most active private equity investors in the region and has completed 30 management buyouts, with an enterprise value of US$19 billion, covering Greater China, Southeast Asia, Korea, Japan, and Australia.
CVC's current Asia Pacific portfolio includes:
-- Zhuhai Zhongfu: China's largest beverage packaging company
-- Stella Group: leading integrated travel and hospitality group in Australia
-- PBL Media: Australia's largest diversified media group (including Channel Nine, ACP Magazines and NineMSN)
-- DCA: the largest diagnostic imaging centre operator in Australia
-- Amtek: Singapore's largest precision metal stamping company
-- GS Paper and Packaging: Malaysia's largest paper and packaging company
-- Plantation Timber Products: a leading manufacturer of wood fibreboards and laminated flooring in China; and
-- Magnachip: a leading semiconductor company in Korea.
SOURCE: CVC Capital Partners
CONTACT: Claire Eilis,
CVC Capital Partners,
+44-207-420-4200,
or Sophie Brand
or Leonora Pou,
Brunswick,
+44-20-7404-5959
COPYRIGHT © 2008
The fund, CVC Capital Partners Asia Pacific III L.P. ("Fund III"), aims to invest in established companies in the most developed economies in the Asia Pacific region (Australia, Hong Kong, Japan, Singapore, South Korea and Greater China).
Fund III, is the third Asian fund to be raised by CVC, and the biggest ever fund raised in the Asia Pacific region which underlines continued investor appetite for investment opportunities.
Fund III follows the success of CVC's previous fundraising in the region. This includes the CVC Capital Partners Asia Pacific L.P. ("Fund I"), which raised US$750m of commitments in 2000 and is one of the best performing Asian buyout funds of vintage year 2000, having invested US$525 million in 17 companies and generating significant cash returns.
CVC Capital Partners Asia Pacific II L.P. ("Fund II") closed in April 2005 with US$1,975 million of commitments. As at December 2007, Fund II was over 80 per cent invested having completed 12 transactions in six different countries. All of the funds, both in Europe and Asia, advised by CVC since 1996 have produced top quartile returns.
CVC has established a leading position in the Asia Pacific buyout market, having executed its proven methodology over an eight-year period, emphasising hands-on involvement in portfolio companies with a focus on long-term value creation and cash realisations to investors.
CVC Asia Pacific was named "Best Private Equity Fund" by Asian Investor magazine in 2007.
CVC believes that the Asia Pacific region will continue to evolve and present significant buyout opportunities.
Increased emphasis on shareholder value, more efficient governance structures and globalisation's pressure on optimisation are increasingly evident in the Asian arena, which CVC expects will result in continued increases in investment activity.
Citigroup is expected to be a significant investor in Fund III but will not be a joint venture partner for CVC Capital Partners with respect to Fund III.
The joint venture relationship with Citigroup will continue for the remainder of the terms of Funds I and II.
Michael Smith, Chairman of CVC commented: "The successful close of our third Asia Pacific Fund demonstrates the continued appetite for investment opportunities in the region. This part of the world exhibits certain strong economic fundamentals and is an area in which we continue to see excellent opportunities.
CVC greatly values its relationship with the LP's who have supported this new fund, many of whom have been with CVC since the inception of our business in Asia over nine years ago.
"We are delighted that demand remains strong among investors wishing to access this market and we value the long term relationships we have built with our investors both in Asia and in Europe.
"This fundraising is also a testament to the skills of the strong team of investment professionals at CVC who have made CVC's predecessor Asia Pacific Funds a success.
"It emphasises our local knowledge of the region and the extensive global network of contacts we have developed over the years."
For more information, please contact:
CVC Capital Partners
Claire Eilis: +44-207-420-4200
Brunswick
Sophie Brand/Leonora Pou: + 44-20-7404-5959
Notes to Editors
CVC Capital Partners is a leading global private equity firm with over US$19b in equity capital (Fund IV, Asia II, Tandem, Asia III). CVC was founded in 1981 and today has a network of 18 offices throughout Europe, Asia and the United States.
CVC Asia Pacific has a well-established local presence with 30 professional staff, working from five offices in the region (Hong Kong, Seoul, Tokyo, Sydney and Singapore). The teams have extensive execution capability in all key markets, namely Japan, Greater China, Australia, South Korea and Southeast Asia; and most have worked together at CVC Asia Pacific since its inception.
CVC Asia Pacific has been one of the most active private equity investors in the region and has completed 30 management buyouts, with an enterprise value of US$19 billion, covering Greater China, Southeast Asia, Korea, Japan, and Australia.
CVC's current Asia Pacific portfolio includes:
-- Zhuhai Zhongfu: China's largest beverage packaging company
-- Stella Group: leading integrated travel and hospitality group in Australia
-- PBL Media: Australia's largest diversified media group (including Channel Nine, ACP Magazines and NineMSN)
-- DCA: the largest diagnostic imaging centre operator in Australia
-- Amtek: Singapore's largest precision metal stamping company
-- GS Paper and Packaging: Malaysia's largest paper and packaging company
-- Plantation Timber Products: a leading manufacturer of wood fibreboards and laminated flooring in China; and
-- Magnachip: a leading semiconductor company in Korea.
SOURCE: CVC Capital Partners
CONTACT: Claire Eilis,
CVC Capital Partners,
+44-207-420-4200,
or Sophie Brand
or Leonora Pou,
Brunswick,
+44-20-7404-5959
COPYRIGHT © 2008
No comments:
Post a Comment