Key Takeaways
- • CVC Secondary Partners closed Secondary Opportunities Fund VI at $10 billion in aggregate capital commitments, nearly double the $5.8 billion raised for its fifth fund in 2023, signaling accelerating institutional demand for secondaries liquidity solutions.
- • Approximately 50% of SOF VI's capital came from new limited partners, while over 200 returning and new LPs participated, demonstrating broad market confidence and CVC's expanding investor reach within the secondaries space.
- • The fund pursues a dual-strategy approach targeting LP fund portfolio transactions and GP-led secondaries across mid-market buyout assets, designed to construct a diversified global private equity portfolio.
- • CVC Secondary Partners manages approximately €20 billion in assets across private equity and credit secondaries with 60 dedicated investment professionals, positioning the firm as a substantial player in the growing secondaries market.
- • The broader CVC platform manages €212 billion globally across seven strategies, with identified expansion opportunities in credit and infrastructure secondaries beyond traditional private equity secondaries.
Summary
CVC Secondary Partners has successfully closed its sixth global secondary private equity fund, Secondary Opportunities Fund VI, with $10 billion in aggregate capital commitments. This represents a substantial acceleration in fundraising compared to the firm's previous vehicles—the fifth fund raised $5.8 billion in 2023, while the fourth fund closed at $2.7 billion in 2019. The near-doubling of capital from the prior fund signals strengthening institutional appetite for secondaries exposure and liquidity management solutions within the private equity ecosystem.
The fundraise drew participation from more than 200 limited partners, comprising both returning investors and new entrants to the Secondary Opportunities Fund series. Notably, approximately half of SOF VI's capital originated from LPs new to the fund series, underscoring expanding market penetration and growing confidence in CVC Secondary Partners' track record and investment approach. This diverse investor base reflects the institutional asset owner community's increasing sophistication around secondaries as a dedicated allocation strategy.
SOF VI will maintain CVC Secondary Partners' established focus on private equity secondaries within the mid-market segment, targeting buyout fund investments managed by established general partners. The fund employs a two-part strategy encompassing LP fund portfolio transactions and GP-led secondaries transactions, enabling construction of a diversified global portfolio of private equity assets throughout the investment period. This dual-mandate approach allows the fund to capture liquidity opportunities across multiple market segments and transaction types.
CVC Secondary Partners currently manages approximately €20 billion in assets under management across private equity and credit secondaries, supported by a team of 60 dedicated investment professionals. The broader CVC platform manages approximately €212 billion globally across seven investment strategies spanning private equity, credit, infrastructure, and secondaries. Management has identified significant expansion opportunities beyond traditional private equity secondaries into credit and infrastructure secondaries markets, positioning the firm to capitalize on structural demand for secondaries solutions across multiple asset classes.
The fundraise drew participation from more than 200 limited partners, comprising both returning investors and new entrants to the Secondary Opportunities Fund series. Notably, approximately half of SOF VI's capital originated from LPs new to the fund series, underscoring expanding market penetration and growing confidence in CVC Secondary Partners' track record and investment approach. This diverse investor base reflects the institutional asset owner community's increasing sophistication around secondaries as a dedicated allocation strategy.
SOF VI will maintain CVC Secondary Partners' established focus on private equity secondaries within the mid-market segment, targeting buyout fund investments managed by established general partners. The fund employs a two-part strategy encompassing LP fund portfolio transactions and GP-led secondaries transactions, enabling construction of a diversified global portfolio of private equity assets throughout the investment period. This dual-mandate approach allows the fund to capture liquidity opportunities across multiple market segments and transaction types.
CVC Secondary Partners currently manages approximately €20 billion in assets under management across private equity and credit secondaries, supported by a team of 60 dedicated investment professionals. The broader CVC platform manages approximately €212 billion globally across seven investment strategies spanning private equity, credit, infrastructure, and secondaries. Management has identified significant expansion opportunities beyond traditional private equity secondaries into credit and infrastructure secondaries markets, positioning the firm to capitalize on structural demand for secondaries solutions across multiple asset classes.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.