CVC Secondary Partners Raises $10 Billion For Sixth Global Private Equity Secondaries Fund

CVC Secondary Partners has achieved final close of Secondary Opportunities Fund VI (SOF VI) with $10 billion in capital commitments, marking the largest secondaries fund raised by the European alternative asset manager to date. The fundraise demonstrates substantial momentum in CVC's dedicated secondaries platform, which has experienced consecutive fund-size increases: SOF V raised $5.8 billion in 2023, while SOF IV raised $2.7 billion in 2019. This progression reflects both CVC's institutional investor confidence and the broader expansion of the global private equity secondaries market.

The capital base supporting SOF VI comprises over 200 global limited partners, with roughly half representing new investor commitments to the Secondary Opportunities Funds franchise. This composition underscores diversified institutional demand across geographies and investor types, validating the secondaries strategy amid a competitive fundraising environment.

SOF VI pursues a balanced, two-pronged investment strategy targeting high-quality general partners' mid-market buyout fund portfolios. The fund deploys capital through both direct LP fund portfolio acquisitions and GP-led secondary transactions, with the objective of constructing a globally diversified private equity asset portfolio across its investment period. This approach positions the fund to capitalize on market dislocations and provide liquidity solutions to fund managers and limited partners navigating portfolio transitions.

Rob Lucas, CVC's Chief Executive Officer, highlighted the firm's 20-year secondaries market heritage and the strategic importance of this asset class within CVC's broader private markets platform. CVC Secondary Partners currently manages €20 billion in assets under management and has signaled intention to expand beyond private equity secondaries into adjacent opportunities, including credit and infrastructure secondaries. This diversification strategy reflects management's view that secondaries demand will continue accelerating across multiple alternative asset classes as institutional capital increasingly seeks efficient portfolio liquidity and mid-market deployment opportunities.

The SOF VI close underscores sustained institutional appetite for secondaries solutions and positions CVC to further scale its dedicated secondaries platform amid what industry participants characterize as a maturing and expanding secondaries market.