CVC closes its European private equity fund for the mid-market with 3 billion and almost doubles the initial target
6 JUL, 2026
By Joanna Piwko from RankiaPro Europe
CVC Capital Partners has announced the definitive closure of CVC Capital Partners Catalyst III, its private equity fund focused on the European mid-market, after raising approximately 3,000 million euros.
The vehicle has far exceeded its initial target of 1,750 million euros, a result that, according to the firm, demonstrates investors' confidence in its track record, its pan-European platform, and its ability to identify attractive opportunities in this segment.
Investment Strategy
CVC Catalyst is a private equity strategy without sector restrictions, focused on high-quality companies with a growth profile within the mid-market, with investments less than 250 million euros per operation and mainly located in Europe. The manager highlights that this approach combines the agility of a mid-market specialized strategy with access to CVC's pan-European network, made up of 16 offices in different countries and five sector teams.
In addition, Catalyst relies on the experience of CVC's investment committee for Europe and the Americas, as well as the firm's value creation resources. CVC emphasizes that it has over 40 years of experience investing in European mid-market companies and believes that this segment continues to be supported by favorable structural trends, founder succession processes, and increased demand for strategic capital and operational support from companies.
First Operations and Opportunity Portfolio
The Catalyst III fund has already executed two investments. The first was the acquisition of WithSecure at the end of 2025 and the second was the purchase of WillowWood in June of 2026. With these operations, the vehicle begins to deploy capital in line with its strategy of identifying attractive businesses in the European mid-market and accompanying them in their development.
Looking ahead to the coming months, CVC assures that Catalyst III has a solid portfolio of investment opportunities. The firm will seek to provide these companies with operational experience, strategic advice, and access to CVC's global network, with the aim of driving value creation in its portfolio companies.
The successful closing of this fund represents an important milestone in the ongoing expansion of our leading private capital business. This not only reflects the strong confidence that investors place in our long-term track record for creating value in different market cycles, but also the trust they have in our platform, in our team, and in our ability to innovate in private markets. Leveraging the strengths of the CVC network, CVC Catalyst further enhances our ability to collaborate with high-quality companies and management teams in the attractive and dynamic European mid-market.
Rob Lucas, CEO of CVC
We are very grateful for the strong support we have received from our long-term existing investors and from new investor relationships. We believe that the current market environment offers a very attractive scenario for the CVC Catalyst strategy and we are very excited about the portfolio of opportunities we are identifying across our EU and US network. Thanks to CVC's global platform with local roots, its deep sectoral experience and its long-standing relationships, we are very well positioned to build a high-quality and diversified portfolio focused on the European mid-market for our investors.
Daniel Pindur, managing partner, co-head of the DACH region and chairman of the Catalyst executive committee
