Those who entertained the notion that an absence of debt funding for larger buyouts and consequent hiatus in deal flow would naturally lead investors to withhold fresh capital from the LBO space were given pause for thought this week. Just a few short months after news emerged that CVC Capital Partners was in discussions about a new €11 billion fund, a source close to the European buyout firm was able to confirm reports that it had capped the vehicle ahead of target at more than €12 billion.
Fine for now
Fundraising is proceeding at a fair clip amid signs that even the larger funds are still in favour. It is clear that investors are keeping the faith. But will they do so indefinitely, asks Andy Thomson?
