March 13, 2026
CVC Tees up Fund X as Maryland Maps Private Credit Buildout
CVC Capital Partners said CVC Capital Partners X, its next Europe and Americas flagship buyout fund, is on track for an early 2027 launch and could match or exceed the size of its €26B predecessor. The comments came alongside a broader slate of product updates at CVC, including an expected 2026 final close for Glendower Capital Secondary Opportunities Fund VI, already above target at €8B, an inaugural infrastructure secondaries fund, and a targeted summer close for CVC Catalyst, its new European middle-market strategy.
GP fundraising activity was also active below the megafund level. Coefficient Capital closed Fund II at $290M, bringing firmwide AUM above $800M, and Level Equity Management closed Level Structured Capital III oversubscribed at $293.5M versus a $225M target, focused on structured credit and equity for software companies.
On the allocator side, Maryland’s $77B State Retirement and Pension System outlined a gradual buildout of private credit to 12% by 2028 as part of a newly approved asset allocation that modestly raises exposure to growth assets. Sacramento County Employees’ Retirement System disclosed a $100M follow-on commitment to Ardian’s Golden Capital Co-Investment II and is also weighing a roughly $450M allocation to Man Numeric’s Global Core ex-US strategy. The City of Jacksonville Police and Fire Pension Fund, meanwhile, set a 2026 pacing plan with $50M for private credit and $25M for non-core real estate.
In fundraising-related people moves, GCM Grosvenor named Steven Novick managing director for business development as it expands client engagement in Europe.
Read on for all the day’s fundraising news headlines.
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