We are very pleased to reach first close of CIV III with a mix of existing and new investors. In NIO, we believe that strong alignment, a seasoned team and institutional quality processes are the best way to access and gain exposure to alternative investments. We look forward to continuing to create value for our investors by committing to blue-chip private market managers.
Following first close of CIV III, NIO has 6 funds under management with total commitments of nearly EUR 1 billion. Final close is expected during Q4 this year.