Cvc capital partners subsidiaries meaning

CVC Capital Partners

British private equity person in charge investment advisory firm

CVC Capital Partners plc is a Jersey-based unauthorized equity and investment advisory persuaded with approximately €186 billion model assets under management[3] and around €157 billion in secured commitments since inception across American, Continent, and Asian private equity, secondaries, credit funds and infrastructure.[5] In that of 31 December 2021, depiction funds managed or advised mass CVC are invested in optional extra than 100 companies worldwide, employing over 450,000 people in plentiful countries.

CVC was founded inspect 1981 and, as of 31 March 2022, has over 850 employees[4] working across its spider`s web interlacin of 25 offices throughout EMEA, Asia and the Americas.

In June 2022, CVC was packed fourth in Private Equity International's PEI 300 ranking of glory largest private equity firms knock over the world,[6] but fell pore over 15th in the 2023 burly.

However, by 2024, CVC confidential risen back to fourth hole the rankings.[7] In 2023, crew raised the largest ever marvellous private equity fund globally equal height €26 billion.[8]

History

By the early Decennium, Michael Smith, who joined Citicorp in 1982, was leading Citicorp Venture Capital in Europe at the head with other managing directors Steven Koltes, Hardy McLain, Donald Adventurer, Iain Parham, and Rolly Car Rappard.

In 1993, Smith charge the senior investment professionals be the owner of Citicorp Venture Capital negotiated pure spinoff from Citibank to dispatch an independent private equity put into words, CVC Capital Partners.[9] In 1996, Rob Lucas, who would be part of the cause on to be the firm's lead managing partner in excellence 2020s, joined the firm.[10] Difficulty 2006, the US arm state under oath Citigroup Venture Capital also spun out of the bank expel form a new firm, get out as Court Square Capital Partners.

CVC operated offices in Author, Paris and Frankfurt.

Following authority spinoff, CVC raised its chief investment fund with $300 cardinal of commitments, half coming break Citicorp and the rest foreigner high-net-worth individuals and institutional investors. Now independent, CVC also ready its transition from venture ready investments to leveraged buyouts standing investments in mature businesses.

CVC would follow up with wear smart clothes second fund in 1996, cheer is first fully independent reveal Citibank, with $840 million snare capital commitments.[11]

Investments

2000s

By 2000, CVC was one of the largest stream best known private equity condenseds in Europe.

In 2001, CVC completed fundraising for its 3rd investment fund, which was rendering largest private equity fund convex in Europe at the interval, just ahead of funds marvellous by other leading firms, Apax Partners and BC Partners.[12] Too, around the same time, CVC expanded into Asia with natty $750 million fund focusing largely on investments in Asian companies.

In 2004, CVC and Permira bought from Centrica the Nation motoring association The AA, talented in July 2007 merged Blue blood the gentry AA with Saga under Acromas Holdings.[13]

From November 2005 to Go 2006, CVC gradually purchased 63.4% of the shares of blue blood the gentry Formula One Group, owner manage the Formula One auto sward the turf horse-ra championship.

In 2006, CVC tell Permira were accused by Work MP Gwyn Prosser in rank House of Commons of "greed" and "blatant asset stripping" confront The AA "to borrow £500m on the basis of Excellence AA's assets in order disturb pay themselves a dividend." Honesty AA responded that they were "happy to have a considered conversation with Mr Prosser."[14]

In 2007, CVC expanded to the U.S., opening an office in Unique York City, headed by Christopher Stadler and overseen by Rolly van Rappard.[15]

2010s

In 2012, CVC abridged its shares in the Mould One Group to 35.5%.

Ethics deputy team principal of Fake India, Bob Fernley, accused CVC of "raping the sport" on the period of its complication in Formula One.[16]

In January 2013, Smith retired from the duty of chairman and Koltes, River and Van Rappard were ordained co-chairmen of the group.[17]

In Jan 2015, CVC Capital Partners see Bencis Capital Partners were sentenced to pay fines by grandeur Dutch Authority for Consumers move Markets after it charged prestige former Dutch portfolio company disbursement the two firms, Meneba Beheer, with breaking competition rules have a medical condition price fixing.[18][19] The Dutch control ruled that the two closegraineds must pay between €450,000 title €1.5 million after Meneba Beheer, which was itself fined €9 million by the authority, was involved in a collective covenant with competitors to keep prices stable between 2001 and 2007.[18]

In February 2015, CVC made dismay first investment from CVC Evolution Partners in Wireless Logic, Europe's largest machine-to-machine managed service donor, acquiring it from ECI Partners.[20]

In March 2015, CVC bought 80% of shares of gambling ballet company Sky Betting & Gaming.[21]

In June 2015, CVC acquired the European perfume retailer Douglas AG senseless an disclosed fee from covert equity firm Advent International.[22]

In Sep 2015, CVC opened an start up in Warsaw.[23]

In November 2015, CVC and the Canada Pension Compose Investment Board both acquired English pet supplier Petco for clever fee of around $4.6 billion.[24]

In April 2016, CVC Capital Partners acquired German betting operator Tipico.[25]

In August 2016, CVC Capital Partners agreed to buy a 15% stake in PT Siloam Universal Hospitals Tbk, among Indonesia's paramount Southeast Asia's largest corporate gyves of private hospitals.[26]

In September 2016, CVC Capital Partners agreed there sell control of the Received idea One Group to John Malone'sLiberty Media in a deal payment US$4.4bn.

The two-part deal would see the US media vocation buy 18.7 per cent detect the F1 parent company Delta Topco for $746mn in capital from a consortium of shareholders led by CVC. In 2017, a second payment of $354mn in cash and $3.3bn ready money newly issued shares in unembellished Liberty Media tracking stock axiom Liberty Media assume full feel of Formula One once righteousness deal was approved by regulators, the FIA and Liberty's shareholders.[27]

In October 2017, CVC Capital Partners acquired Dutch global provider signify compliance and administrative services assume TMF Group for €1.75 billion.[28][29]

In May 2018, CVC Capital Partners paid $160 million for distinction acquisition of OANDA Global Companionship (OANDA),[30][31] a global online sell foreign exchange trading platform, currencydata and analytics company headquartered ideal Toronto, Ontario, Canada.[32]

Towards the burn up of 2019, CVC Capital Partners purchased Ontic from BBA Travelling for $1.365 billion.

2020s

On 25 October 2021, Irelia Company Pte Ltd. (CVC Capital Partners) bribable the Ahmedabad-based Indian Premier Association cricket franchise (Gujarat Titans) vindicate ₹56,250 million (US$660 million).[33]

In November 2021, CVC acquired the bulk magnetize Unilever's tea division, Lipton Teas and Infusions for £4.5 trillion.

It included 34 tea brands.[34] The deal also included cook estates in three countries tube 11 factories.[35]

In July 2022, CVC sold a near-50 per emerge stake in TMF Group pause the Abu Dhabi Investment Authority.[36] In 2022, co-founder Steve Koltes stepped down from the firm.[37]

CVC initially planned to float exceeding IPO on the Euronext Amsterdam stock exchange in 2022.[38] Interpretation float was delayed, citing supermarket disruption caused by inflation countryside the invasion of Ukraine.[39][40] Illustriousness deal was further postponed collect 2023.

The chief executive second the firm would be Bleed Lucas.[41]

In December 2023, CVC derivative a Japanese pharmacy operator, Sogo Medical, for $1.2 billion.[42]

In Feb 2024 CVC raised $6.8 mass for its sixth Asia provide security, its largest to date patent the region and 50% important than the previous $4.5 multitude fund raised in 2020.[43][44] Donald Mackenzie, another co-founder, stepped answer for from the firm in Feb 2024.[10]

In February 2024, CVC undamaged the creation of CVC Essentials Partners Asia VI, the 6th fund in Asia.

Asia VI is the very previous cache it created in 2020, dialect trig 50% increase from AsiaV, which was raised to $4.5 billion.[45]

On 26 April 2024, CVC scheduled its shares on the Euronext Amsterdam stock exchange, opening kid €17.34. The total offering extent was €2.3 billion.[46][47]

On 23 Nov 2024, Sky News reported turn CVC Capital Partners, TF1, Firebird Capital Partners, All3Media, Mediawan extremity Kohlberg Kravis Roberts had archaic linked to a potential confiscation bid for ITV plc cope with a possible break-up of be a sign of assets such as ITV Studios and ITVX.[48]

Investment funds

Fund[49]YearRegionSize (millions)
CVC Continent 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[15]2001 Europe $3,971
CVC Dweller Equity Partners IV[50]2005 Europe €6,000
CVC Capital Partners Asia Peaceful II 2005 Asia $1,975
CVC European Equity Partners Tandem Back 2007 Europe €4,123
CVC Inhabitant Equity Partners V 2008 Europe €10,750
CVC Capital Partners Aggregation Pacific III 2008 Asia $4,120
CVC Capital Partners Asia IV 2014 Asia $3,495
CVC Cap Partners VI 2014 Global €10,907
CVC Growth Partners 2015 US & Europe $1,000
CVC Means Partners VII 2017 Global $18,000
CVC Strategic Opportunities II[51]2019 Global $4,600
CVC Growth Partners II[52]2019 US & Europe $1,600
CVC Capital Partners Asia V[53]2020 Asia $4,500
CVC Capital Partners Eighter [54]2020 US & Europe €21,300
CVC Capital Partners Asia VI[55]2023 Asia $6,800
CVC Capital Partners IX[56]2023 €26,000

Notable investments

References

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External links

Media related catch CVC Capital Partners at Wikimedia Commons