Private equity group Cinven raises 5 billion euro fund

LONDON, March 14 Thu Mar 14, 2013 6:07am EDT

LONDON, March 14 (Reuters) - European private equity firm Cinven said on Thursday it had raised 5 billion euros ($6.5 billion) for its latest buyout fund.

The Fifth European Buyout Fund is already 14 percent committed, it said in a statement, following investments last year including healthcare firms Mercury Pharma and Amdipharm.

The statement confirms a Reuters report on Wednesday that the group had reached its 5 billion euro target, making it one of the few industry players to defy a tough fundraising climate.