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Two major private equity houses have closed multi-billion-pound funds to spend on businesses in Europe despite concerns that the region is in flux over Brexit.
Cinven, which backs upmarket shoe shop Kurt Geiger, closed its biggest-ever €7bn (£5.8bn) fund on Wednesday, while rival Ardian also announced it had raised €1bn (£830m) for European buy-outs.
The private equity firms, which have London offices but raise money in euros to invest across the continent, said their funds had been oversubscribed despite investor worries about Britain’s exit from the 28-member bloc.
Source: The Telegraph