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Demand for the newest private equity fund launched by Luxembourg’s CVC Capital Partners broke the European record, the Financial Times reported on 1 June. CVC held a majority stake in the Formula One racing group between 2005 and 2012. Pictured: Mexican racing driver Sergio Perez on day four of the first Official Formula 1 Test at the Circuito de Jerez in southern Spain, 8 February 2013. Photo: Michael Elleray (CC BY 2.0) 

“This is the largest fundraising for a European group in the continent,” the newspaper reported on Thursday.

CVC Capital Partners was “swamped with demand of between €25bn and €30bn from investors” interested in entering the firm’s first new fund since 2013.

The newspaper said CVC has raised “almost $108bn” since it got started in 1981.

“On average, net returns, after costs, are 20 per cent per year for all CVC funds, according to data seen by the Financial Times.”

The firm’s current portfolio includes Anchor Glass, an American maker of food & beverage containers, Moto, the UK motorway operator, and QSR, which operates fast food restaurants in southeast Asia.

CVC has previously invested in Formula One racing, Post Denmark and Samsonite luggage.