CVC Credit, the credit management arm of private equity giant CVC, has closed its fourth European Direct Lending fund (EUDL IV) with 10.4 billion euros in commitments.
The fund marks a sharp increase from its predecessors, which raised 6.3 billion euros in 2022 and 1.3 billion euros in 2020.
The firm said the growth of its direct lending platform has been driven by its network of 16 European offices and more than four decades of experience in the region. CVC is among Europe’s largest private credit managers and also the top collateralised loan obligation (CLO) manager in the market.
EUDL IV has already committed capital to over 30 deals, including financing for Cinven’s acquisition of property portal idealista, Bridgepoint’s take-private of Alpha FMC, and KKR’s buyout of Immedica Pharma.
CVC Credit now manages more than 48 billion euros in assets across liquid and private credit strategies, with around 18 billion euros in its private credit platform.
