Cinven, the renowned private equity firm, has projected that it would make at most four acquisitions in Europe. This number was reached after it raised Eur5 billion for a buyout fund despite the tough market for fundraising.
For its part, Cinven would be investing up to Eur1 billion in equity for 2013, according to Cinven partner Bruno Schick. The equity firm is amongst the largest in the world and has focused mainly in Europe, with purchases made in healthcare, consumer and financial services, media and telecommunications, business sectors and industrials and technology markets.
According to Cinven Managing Partner Hugh Langmuir in an interview with Reuters, "We are very happy to have reached the target. The fundraising market has been the most challenging I can remember." Langmuir has been at the helm of the firm since 1991.
Overall, private equity funds in Europe have been able to raise about US$52 billion in 2012 compared to the high of US$100 billion between 2006 and 2008 according to Thomson Reuters data.
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