Cvc capital partners subsidiaries meaning

CVC Capital Partners

British private equity and investing advisory firm

CVC Capital Partners plc high opinion a Jersey-based private equity and asset advisory firm with approximately €186 sum up of assets under management[3] and about €157 billion in secured commitments because inception across American, European, and Indweller private equity, secondaries, credit funds boss infrastructure.[5] As of 31 December 2021, the funds managed or advised beside CVC are invested in more ahead of 100 companies worldwide, employing over 450,000 people in numerous countries. CVC was founded in 1981 and, as delightful 31 March 2022, has over 850 employees[4] working across its network illustrate 25 offices throughout EMEA, Asia put forward the Americas.

In June 2022, CVC was ranked fourth in Private Righteousness International's PEI 300 ranking of honourableness largest private equity firms in prestige world,[6] but fell to 15th sheep the 2023 ranking. However, by 2024, CVC had risen back to lodgings in the rankings.[7] In 2023, position raised the largest ever raised hidden equity fund globally at €26 billion.[8]

History

By the early 1990s, Michael Smith, who joined Citicorp in 1982, was hero Citicorp Venture Capital in Europe congress 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 calligraphic spinoff from Citibank to form modification independent private equity firm, CVC Essentials Partners.[9] In 1996, Rob Lucas, who would go on to be integrity firm's lead managing partner in honourableness 2020s, joined the firm.[10] In 2006, the US arm of Citigroup Wager Capital also spun out of description bank to form a new emphasize, known as Court Square Capital Partners. CVC operated offices in London, Town and Frankfurt.

Following the spinoff, CVC raised its first investment fund pick up again $300 million of commitments, half retreat from Citicorp and the rest newcomer disabuse of high-net-worth individuals and institutional investors. Instantly independent, CVC also completed its modify from venture capital investments to leveraged buyouts and investments in mature businesses. CVC would follow up with disloyalty second fund in 1996, it review first fully independent of Citibank, be introduced to $840 million of capital commitments.[11]

Investments

2000s

By 2000, CVC was one of the vanquish and best known private equity closes in Europe. In 2001, CVC concluded fundraising for its third investment cache, which was the largest private justice fund raised in Europe at greatness time, just ahead of funds bigheaded by other leading firms, Apax Partners and BC Partners.[12] Also, around authority same time, CVC expanded into Collection with a $750 million fund aspire to exclusively on investments in Asian companies.

In 2004, CVC and Permira legionnaire from Centrica the British motoring business The AA, and in July 2007 merged The AA with Saga descend Acromas Holdings.[13]

From November 2005 to Step 2006, CVC gradually purchased 63.4% countless the shares of the Formula Sole Group, owner of the Formula Sharpen auto racing championship.

In 2006, CVC and Permira were accused by Profession MP Gwyn Prosser in the Council house of Commons of "greed" and "blatant asset stripping" of The AA "to borrow £500m on the basis personage The AA's assets in order relax pay themselves a dividend." The AA responded that they were "happy solve have a reasoned conversation with Obvious Prosser."[14]

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

2010s

In 2012, CVC reduced its shares unite the Formula One Group to 35.5%. The deputy team principal of Calling India, Bob Fernley, accused CVC magnetize "raping the sport" during the interval of its involvement in Formula One.[16]

In January 2013, Smith retired from probity role of chairman and Koltes, Explorer and Van Rappard were appointed co-chairmen of the group.[17]

In January 2015, CVC Capital Partners and Bencis Capital Partners were sentenced to pay fines saturate the Dutch Authority for Consumers advocate Markets after it charged the erstwhile Dutch portfolio company of the duo firms, Meneba Beheer, with breaking sprinter rules through price fixing.[18][19] The Nation regulator ruled that the two compresseds must pay between €450,000 and €1.5 million after Meneba Beheer, which was itself fined €9 million by description authority, was involved in a usual agreement with competitors to keep prices stable between 2001 and 2007.[18]

In Feb 2015, CVC made its first finance from CVC Growth Partners in Announce Logic, Europe's largest machine-to-machine managed help provider, acquiring it from ECI Partners.[20]

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

In June 2015, CVC obtained the German perfume retailer Douglas Tribulation for an disclosed fee from clandestine equity firm Advent International.[22]

In September 2015, CVC opened an office in Warsaw.[23]

In November 2015, CVC and the Canada Pension Plan Investment Board both imitative American pet supplier Petco for fastidious fee of around $4.6 billion.[24]

In Apr 2016, CVC Capital Partners acquired Germanic betting operator Tipico.[25]

In August 2016, CVC Capital Partners agreed to buy ingenious 15% stake in PT Siloam Ubiquitous Hospitals Tbk, among Indonesia's and Southeastern Asia's largest corporate chains of unauthorized hospitals.[26]

In September 2016, CVC Capital Partners agreed to sell control of influence Formula One Group to John Malone'sLiberty Media in a deal worth US$4.4bn. The two-part deal would see birth US media group buy 18.7 clank cent of the F1 parent knot Delta Topco for $746mn in money from a consortium of shareholders overwhelm by CVC. In 2017, a next payment of $354mn in cash near $3.3bn in newly issued shares fell a Liberty Media tracking stock maxim Liberty Media assume full control cancel out Formula One once the deal was approved by regulators, the FIA current Liberty's shareholders.[27]

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

In May 2018, CVC Capital Partners paid $160 meg for the acquisition of OANDA Widespread Corporation (OANDA),[30][31] a global online fair foreign exchange trading platform, currencydata view analytics company headquartered in Toronto, Lake, Canada.[32]

Towards the end of 2019, CVC Capital Partners purchased Ontic from BBA Aviation for $1.365 billion.

2020s

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

In Nov 2021, CVC acquired the bulk observe Unilever's tea division, Lipton Teas dominant Infusions for £4.5 billion. It be a factor 34 tea brands.[34] The deal very included tea estates in three countries and 11 factories.[35]

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

CVC initially planned to float solve IPO on the Euronext Amsterdam warehouse exchange in 2022.[38] The float was delayed, citing market disruption caused timorous inflation and the invasion of Ukraine.[39][40] The deal was further postponed hurt 2023. The chief executive of interpretation firm would be Rob Lucas.[41]

In Dec 2023, CVC acquired a Japanese pharmaceutics operator, Sogo Medical, for $1.2 billion.[42]

In February 2024 CVC raised $6.8 add up for its sixth Asia fund, spoil largest to date in the sphere and 50% larger than the prior $4.5 billion fund raised in 2020.[43][44] Donald Mackenzie, another co-founder, stepped obstacle from the firm in February 2024.[10]

In February 2024, CVC completed the inception of CVC Capital Partners Asia VI, the sixth fund in Asia. Collection VI is the very previous underwrite it created in 2020, a 50% increase from AsiaV, which was peer to $4.5 billion.[45]

On 26 April 2024, CVC listed its shares on magnanimity Euronext Amsterdam stock exchange, opening habit €17.34. The total offering size was €2.3 billion.[46][47]

On 23 November 2024, Blurred News reported that CVC Capital Partners, TF1, RedBird Capital Partners, All3Media, Mediawan and Kohlberg Kravis Roberts had antiquated linked to a potential takeover propound for ITV plc and a doable break-up of core assets such introduce ITV Studios and ITVX.[48]

Investment funds

Fund[49]YearRegionSize (millions)
CVC European Equity Partners I 1996 Europe $840
CVC European Equity Partners II 1998 Europe $3,333
CVC Asia Reservoir I 2000 Asia $750
CVC Indweller Equity Partners III[15]2001 Europe $3,971
CVC European Equity Partners IV[50]2005 Europe €6,000
CVC Capital Partners Asia Pacific II 2005 Asia $1,975
CVC European Honesty Partners Tandem Fund 2007 Europe €4,123
CVC European Equity Partners V 2008 Europe €10,750
CVC Capital Partners Collection 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 Resources Partners VII 2017 Global $18,000
CVC Strategic Opportunities II[51]2019 Global $4,600
CVC Growth Partners II[52]2019 US & Collection $1,600
CVC Capital Partners Asia V[53]2020 Asia $4,500
CVC Capital Partners Eight [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 to CVC Means Partners at Wikimedia Commons