CVC Capital Partners is a Luxembourg-based French private equity and investment advisory firm with approximately US$133 billion of assets under management and approximately €157 billion in secured commitments since inception across American, European and Asian private equity, secondaries and credit funds. As of 31 December 2021, the funds managed or advised by CVC are invested in more than 100 companies worldwide, employing over 450,000 people in numerous countries. CVC was founded in 1981 and, as of 31 March 2022, has over 650 employees working across its network of 25 offices throughout EMEA, Asia and the Americas.
|Headquarters||Headquarters Luxembourg, Main Office St Helier, Jersey|
|Steve Koltes, Donald Mackenzie, Rolly van Rappard|
|Products||Private equity, credit asset management|
|Total assets||€133 billion (2022)|
Number of employees
|c. 700 (2022)|
Spinout from Citicorp and the 1990sEdit
By the early 1990s, Michael Smith, who joined Citicorp in 1982, was leading Citicorp Venture Capital in Europe along with other managing directors Steven Koltes, Hardy McLain, Donald Mackenzie, Iain Parham, and Rolly Van Rappard. In 1993, Smith and the senior investment professionals of Citicorp Venture Capital negotiated a spinout from Citibank to form an independent private equity firm, CVC Capital Partners. In 2006, the US arm of Citigroup Venture Capital also spun out of the bank to form a new firm, known as Court Square Capital Partners. CVC operated offices in London, Paris and Frankfurt.
Following the spinout, CVC raised its first investment fund with $300 million of commitments, half coming from Citicorp and the rest from high-net-worth individuals and institutional investors. Now independent, CVC also completed its transition from venture capital investments to leveraged buyouts and investments in mature businesses. CVC would follow up with its second fund in 1996, its first fully independent of Citibank, with $840 million of capital commitments.
By 2000, CVC was one of the largest and best known private equity firms in Europe. In 2001, CVC completed fundraising for its third investment fund, which was the largest private equity fund raised in Europe at the time, just ahead of funds raised by other leading firms, Apax Partners and BC Partners. Also, around the same time, CVC expanded into Asia with a $750 million fund focusing exclusively on investments in Asian companies.
In 2012, CVC reduced its shares in the Formula One Group to 35.5%. The deputy team principal of Force India, Bob Fernley, accused CVC of "raping the sport" during the period of its involvement in Formula One.
In January 2013, Smith retired from the role of chairman and Koltes, Mackenzie and Van Rappard were appointed co-chairmen of the group.
In September 2015, CVC opened an office in Warsaw.
In August 2016, CVC Capital Partners agreed to buy a 15% stake in PT Siloam International Hospitals TbK, among Indonesia's and South East Asia's largest corporate chains of hospitals 
In September 2016, CVC Capital Partners agreed to sell control of the Formula One Group to John Malone's Liberty Media in a deal worth US$4.4bn. The two-part deal would see the US media group buy 18.7 per cent of the F1 parent company Delta Topco for $746mn in cash from a consortium of shareholders led by CVC. In 2017, a second payment of $354mn in cash and $3.3bn in newly issued shares in a Liberty Media tracking stock saw Liberty Media assume full control of Formula One once the deal was approved by regulators, the FIA and Liberty's shareholders.
Towards the end of 2019, CVC Capital Partners purchased Ontic from BBA Aviation for $1.365 billion.
|CVC European Equity Partners I||1996||Europe||$840|
|CVC European Equity Partners II||1998||Europe||$3,333|
|CVC Asia Fund I||2000||Asia||$750|
|CVC European Equity Partners III||2001||Europe||$3,971|
|CVC European Equity Partners IV||2005||Europe||€6,000|
|CVC Capital Partners Asia Pacific II||2005||Asia||$1,975|
|CVC European Equity Partners Tandem Fund||2007||Europe||€4,123|
|CVC European Equity Partners V||2008||Europe||€10,750|
|CVC Capital Partners Asia Pacific III||2008||Asia||$4,120|
|CVC Capital Partners Asia IV||2014||Asia||$3,495|
|CVC Capital Partners VI||2014||Global||€10,907|
|CVC Growth Partners||2015||US & Europe||$1,000|
|CVC Capital Partners VII||2017||Global||$18,000|
|CVC Growth Partners II||2019||US & Europe||$1,600|
|CVC Capital Partners Asia V||2020||Asia||$4,500|
|CVC Capital Partners VIII ||2020||US & Europe||€21,300|
In January 2015, CVC Capital Partners and Bencis Capital Partners were sentenced to pay fines by the Dutch Authority for Consumers and Markets after it charged the former Dutch portfolio company of the two firms, Meneba Beheer, with breaking competition rules through price fixing. The Dutch regulator ruled that the two firms must pay between €450,000 and €1.5 million after Meneba Beheer, which was itself fined €9 million by the authority, was involved in a collective agreement with competitors to keep prices stable between 2001 and 2007.
- Wiggins, Kaye; Massoudi, Arash (12 October 2022). "CVC's biggest bet yet: the fiercely private buyout firm set to go public". Financial Times. Archived from the original on 12 October 2022.
- "CVC Capital Partners Investor Profile". Pitchbook. Retrieved 10 May 2022.
- "CVC Capital Partners Fund VIII to acquire RGI from Corsair". RGI Group. Retrieved 10 May 2022.
- "CVC Capital Partners Investor Profile". Pitchbook. Retrieved 10 May 2022.
- Editor, W. T. N. (2022-07-13). "Unilever Completes Sale of Its Tea Business, ekaterra, to CVC Capital Partners Fund VIII". World Tea News. Retrieved 2022-11-27.
|last=has generic name (help)
- "Briton who has steered CVC to the top". The Times. February 23, 2007.
- Desk, CricketSoccer (2021-08-06). "On the La Liga and CVC agreement | CricketSoccer". Retrieved 2022-11-27.
- "CVC Capital Partners closes record €4.65bn European fund". AltAssets. June 28, 2001. Archived from the original on July 20, 2012.
- "CVC sets up in US". AltAssets. January 31, 2007.
- "CVC ownership of F1 should serve as a warning to Premiership Rugby". TheGuardian.com. 2018-09-10.
- "CVC chairman Michael Smith steps down after 30 years". Retrieved 2016-09-05.
- "CVC buys Wireless Logic from ECI - PE Hub". PE Hub. 2015-02-11. Retrieved 2017-08-31.
- BSIC. "A price too high to be refused: CVC Acquires 80% of Sky Bet for £720m – BSIC | Bocconi Students Investment Club". Retrieved 2022-11-27.
- Kirsti Knolle (1 June 2015). "CVC buys German perfume retailer Douglas". Reuters. Archived from the original on 1 June 2015. Retrieved 1 June 2015.
- "CVC opens Warsaw office, hires Krawczyk from Innova". AltAssets. 17 September 2015.
- "CVC, Canada's CPPIB to buy Petco for about $4.6 billion". Reuters. 23 November 2015. Archived from the original on 26 November 2015. Retrieved 30 June 2017.
- Langworth, Hannah (25 April 2016). "CVC acquires German betting operator Tipico". Real Deals.
- Editorial, Reuters (29 August 2016). "CVC to buy 15 percent of Indonesian hospital operator Siloam from..." Reuters.
|first=has generic name (help)
- "US media firm Liberty Media to buy Formula 1". BBC News. 8 September 2016. Retrieved 2016-09-08.
- "New IPL teams: CVC Capital wins bid for Ahmedabad, RPSG Group gets Lucknow". Business Standard India. Press Trust of India. 25 October 2021. Retrieved 26 October 2021.
- Cavale, Siddharth (November 18, 2021). "Unilever bags $5 bln deal with CVC for tea business". Reuters – via www.reuters.com.
- "Preqin Online Database". Preqin. September 05, 2016.
- "Pan-European CVC closes €6bn European fund". AltAssets. July 29, 2005. Archived from the original on January 16, 2013.
- "CVC Banks $1.6 Billion Tech Fund". Wall Street Journal. 13 November 2019. Retrieved 9 December 2019.
- Mendoza, Carmela (3 April 2020). "CVC closes fifth Asia fund on $4.5bn hard-cap". Private Equity International. Retrieved 10 May 2022.
- "CVC Capital Closes Record 21 Billion-Euro Buyout Fund". Bloomberg.com. 3 July 2020. Retrieved 17 October 2020.
- Lunden, Ingrid. "Security Software Firm Avast Gets CVC Capital Investment, Now Valued At $1B". TechCrunch. Retrieved 2016-09-05.
- Kleinman, Mark (December 2, 2015). "F1 Shareholder CVC Motors To £2bn RAC Deal". Sky News. Retrieved December 3, 2015.
- Driebusch, Telis Demos And Corrie. "Forget Going Public, U.S. Companies Want to Get Bought". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-11-29.
- "CVC Capital Partners' cricket franchise Gujarat Titans win Indian Premier League". CityAM. 2022-05-30. Retrieved 2022-09-20.
- "ACM fines investment companies for cartel activities of portfolio company". www.elexica.com. Archived from the original on 2017-01-13. Retrieved 2016-09-05.
- Bobeldijk, Yolanda (2015-01-07). "CVC and Bencis face antitrust fine". Private Equity International.