In December 2019, CIP VIII backed, with a $222m commitment, a single-asset GP-led transaction whereby Action, a fast-growing European non-food discount retailer, was moved from 3i Eurofund V to a continuation vehicle. The transaction facilitated a liquidity offering to existing LPs, while allowing the GP to continue their successful rollout of Action stores throughout Europe. This transaction was awarded European deal of the year in 2020 by Private Equity International.