Investors have committed a record sum for the latest fund from the venture capital firm, Cinven. More than 60 international institutions committed to the fund totalling in excess of 3.5bn Euro (£2.1bn), with further closings expected in early 2002. This is the third fund from the investor which focuses on large pan-European buyouts worth a minimum of £100m. Cinven's second fund raised 2.4bn in 1998 and is now fully invested. We are delighted with the response of investors in what many consider to be difficult fund-raising climate, said Andrew Joy of Cinven.
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