Chart of the week: CVC tops UK fund manager charts

How are British managers of closed-ended private equity funds prepared for Brexit?

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With the private funds industry preparing itself for uncertain times following the Brexit vote, PEI’s Research & Analytics team have looked at who the biggest players are in the UK and how they have reacted in the wake of the referendum.

CVC Capital Partners leads fundraising, with $19 billion gathered for closed-ended private equity funds since 2010. The close of CVC European Equity Partners VI in 2013 at $14.5 billion was the largest across the period.

CVC Growth Partners also held a final close at €1 billion in February and the firm is in preliminary discussions with investors about launching a €12.5 billion seventh vehicle in the first half of 2017, with a hard-cap of €15 billion.

Cinven was also among the top 10 managers, having raised $14.8 billion. The Sixth Cinven Fund closed this month at €7 billion, receiving strong support from public pensions, such as the New York State Common Retirement Fund and the Ohio Police & Fire Pension Fund. Cinven corporate affairs director Vanessa Maydon told Private Equity International that the firm is re-evaluating its pipeline in light of the referendum vote, although the majority of potential opportunities are expected to be unaffected by the outcome.

Six of the top 10 UK-based fund managers currently have vehicles in market, targeting $30.4 billion collectively.