Glendower Capital Raises US$5.8 Billion for Its Fifth Global Secondary Private Equity Fund
LONDON & NEW YORK–(BUSINESS WIRE)–Glendower Capital, CVC’s secondaries platform, is pleased to announce the final close of its fifth global secondary private equity fund, Glendower Capital Secondary Opportunities Fund V (“SOF V”). Glendower has raised aggregate capital commitments of US$5.8 billion for the SOF V program to deploy in the secondary market. SOF V is the first fund closed since Glendower completed a strategic merger with CVC in 2022.
Glendower operates in the private equity secondaries mid-market, targeting buyout fund investments managed by high quality GPs. The fundraise represents the next stage of growth for Glendower’s successful two-pronged strategy in private equity secondaries, which provides balanced exposure to portfolio sales by LP investors as well as GP-led transactions.
The fundraise attracted investment from a diversified and global institutional investor base of over 230 returning and new limited partners.
Carlo Pirzio-Biroli, CEO and Managing Partner of Glendower, commented, “We are grateful for the support of our existing investors, as well as the new investors that joined our program for this fund. The completion of this fundraise is another significant milestone for us, and we continue our mission to be a lead investor and key partner of choice for LPs and GPs globally. The opportunity for our investment strategy has never been greater and we look forward to deploying this capital into a highly attractive secondary market environment.”
Rob Lucas, CVC Managing Partner, said, “We are delighted with the progress of our partnership with Glendower since the transaction completed last year. Congratulations to Carlo and team who have achieved their largest ever fundraise with SOF V. With access to the broader CVC Network, the secondaries platform is well-positioned to continue to deliver sustainable value for our investors in this growing market segment, and we look forward to the continued success of this strategy.”
Glendower today manages US$13 billion in AUM across its private equity secondary funds with a team of over 35 dedicated investment professionals. CVC manages more than €140 billion of AUM globally across its six complementary strategies comprising CVC Europe/Americas, CVC Asia, CVC Strategic Opportunities, CVC Growth, CVC Credit and CVC Secondaries (Glendower).
About Glendower Capital
Established in 2017, Glendower Capital is a private equity firm focused on acquiring secondary private equity assets providing liquidity solutions to investors globally. The team has a long history of executing a range of transactions with sellers – from the acquisition of limited partnership interests to complex GP-led transactions – having completed over 175 transactions and purchased more than 1,500 fund interests since 2007. The firm manages funds with US$13 billion in assets under management backed by leading limited partners worldwide. Headquartered in London with offices in New York, Glendower’s team comprises over 80 professionals.
About CVC
CVC is a leading private equity and investment advisory firm with a network of 25 offices throughout Europe, Asia and the US, with approximately €140 billion of assets under management. CVC has six complementary strategies across private equity, secondaries and credit, for which we have secured commitments in excess of €165 billion from some of the world’s leading institutional investors across its private equity and credit strategies. Funds managed or advised by CVC are invested in over 125 companies worldwide, which have combined annual sales of approximately €100 billion and employ more than 550,000 people. For further information about CVC please visit: www.cvc.com.
Contacts
For CVC
Nick Board, [email protected]
