Mourant Investment Funds team advises CVC on US$6.8 billion Asia Fund

Mourant, a law firm-led professional services business, has advised CVC Capital Partners on the establishment of its sixth Asia Fund, CVC Capital Partners Asia VI (Asia VI).

The Mourant Investment Funds team worked alongside lead counsel Simpson Thacher & Bartlett LLP to advise CVC Capital Partners, one of the world's leading private equity and investment advisory firms, on the launch of Asia VI, which is intended to focus on control, co-control and partnership investments in high quality businesses in core consumer and services sectors across Asia.

The fund closed with commitments of US$6.8 billion, significantly exceeding its US$6 billion target and original hard cap. It is 50 per cent larger than its predecessor, CVC Capital Partners Asia V, which was raised in 2020 and closed at US$4.5 billion.

In 2023, Mourant also advised CVC Capital Partners on the largest ever buyout fund by a private equity firm, CVC Capital Partners IX. The fund closed with commitments of €26 billion, making it the biggest buyout fund in history.

On this latest transaction, the Mourant team was led by Felicia de Laat alongside Alex Henderson (partner), Sally Müller (senior associate), and associates Ikanyeng Kobue, Kieran Sharman and Steph Devine-Hill. The team also worked in collaboration with Mourant colleagues in the firm's global Funds, Finance and Corporate teams.

The expertise of the Mourant Investment Funds practice, which spans its Jersey, Guernsey, Cayman Islands and Asia offices, is recognised in leading independent legal directories Chambers and Partners and Legal 500.

In the latest Chambers UK 2024 guide, a source praises the team's "excellent handling of innovative fund structures," while another in Legal 500 UK 2024 adds: "Their strength is their people. I have built a longstanding relationship with Mourant and it is the people, combined with their outstanding work and knowledge, that mean I highly recommend anyone to use them."