Cinven Seeks €5B For LBO Fund

U.K. private equity firm,Cinven, is seeking to raise €5 billion for a leveraged buyout (LBO) fund,Bloombergreports. The firm is expecting the first close of its new fund in the second half of the year before completing the fundraising in 2012.

Cinven, which may extend the investment period of its current fund by a year starting in June, to invest another €1.3 billion from it, may also consider options, including initial offerings forAvioand Dutch cable company,Ziggo. Cinven, founded byCoalPension Trustees Services, has spent 70% of the €6.5 billion pool it raised in 2006.

Click here for the story fromBloomberg.