European CVC Credit Direct Lending (EUDL IV) closed its fundraising at 10.4 billion euros of commitments, above the previous funds of 6.3 billion in 2022 and 1.3 billion in 2020 (press release).
EUDL IV already carried on 30 investments which include the support to the KKR buyout of Immedica Pharma; smartTrade; Cinven acquisition of idealista; Innovative Beauty Group; the London-listed Bridgepoint take private deal of Alpha FMC from the same exchange.
CVC’s Liquid and Private Credit (European Direct Lending and Capital Solutions) strategies have assets under management of 48 billion.
Rob Lucas, the ceo of CVC, said: “Our latest European Direct Lending fund achieved an excellent result reflecting a very positive investment performance and long-standing, established relationships with top-quality institutional investors. CVC’s Credit platform draws strength from our international network of 30 local offices and strong investment expertise. We are the leading Collateralised Loan Obligation (CLO) manager and among the top three private credit managers in Europe. Our Liquid and Private Credit strategies have grown steadily in recent years and now account for almost a quarter of CVC’s total assets under management. We continue to see numerous growth opportunities for our Credit platform, which is a key pillar for CVC’s ambitions in the Insurance and Private Wealth sectors.”
Andrew Davies, managing partner, Head of CVC Credit, added: “We are extremely grateful for the continued trust and support that CVC investors around the world are showing us. The European private credit market significantly developed in recent years grace to structural factors and the increasing relevance of private credit within the broader credit ecosystem. We have been able to seize this opportunity to grow our platform and strengthen our resources, making CVC Credit one of the top three private credit players in Europe. Looking to the future, our goal remains to propose profitable financing solutions to the most relevant European lenders. Thanks to the expertise of CVC Private Equity and the strength of its global network, we are positioned as a reliable long-term partner, always ready to seize the best opportunities offered by European credit.”
