(Bloomberg) -- CVC Capital Partners, one of Europe’s biggest private equity firms, said it raised $6.8 billion for its largest-ever Asia fund as it defies a difficult fundraising environment. 

The Asia VI fund was oversubscribed and topped its $6 billion target, the private equity firm said in a statement Wednesday. It gathered about 50% more capital than its predecessor in 2020.

Roughly 40% of demand for the fund came from Asian investors, while Middle Eastern institutions were in the high single digits, according to people familiar with the matter. The rest came from North American and European investors, the people said, asking not to be identified discussing confidential information. 

CVC Capital raised €26 billion ($28 billion) in July for the world’s biggest-ever buyout fund. The same month, its secondaries unit Glendower Capital raised $5.8 billion for its latest fund, while its credit arm raised $800 million to make equity investments in CVC-managed collateral loan obligations. 

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