CVC Capital Partners

Investment decisions at CVC are led by managing partners Rob Lucas and Rolly von Raffay, alongside co-chairman Jean-Yves Charlier and a partnership of roughly 50 partners. The firm operates a committee-based structure for deal approvals, with regional teams given autonomy within strategy guidelines (per the firm's corporate governance disclosures, 2024).

CVC's proprietary deal flow is driven by its industry sector teams — focused on sectors like TMT, healthcare, financial services, and consumer — and its 16-office global network. The firm often originates deals through long-standing relationships with corporate owners and founder families across Europe and increasingly in the Americas and Asia. CVC also runs a dedicated growth equity team that sources early-stage opportunities alongside venture capitalists (per the firm's 2024 annual report).

CVC is a traditional private equity firm structured as a partnership, not a family office. It was founded as Citicorp Venture Capital's European arm and spun out independently in 1993. The firm listed on Euronext Amsterdam in April 2024, making it a publicly traded asset manager, though investment decisions remain with its partner group (per CVC's IPO prospectus, 2024).

CVC runs six primary strategies: flagship buyouts (the CVC Capital Partners fund series), growth equity (CVC Growth), private credit (CVC Credit), infrastructure (CVC Infrastructure), secondaries (CVC Secondaries), and real estate (CVC Real Estate). The firm also manages direct co-investments and separate accounts for large LPs (per the firm's website, 2024).

CVC primarily deploys capital through its own commingled fund vehicles — buyout, growth, credit, infrastructure, and secondaries — rather than acting as a fund-of-funds. The firm does offer separate account mandates for select institutional investors. In 2024, the firm raised its largest-ever flagship fund, CVC Capital Partners IX, at €26 billion (per Bloomberg, April 2024).

CVC invests globally across Europe, North America, Asia Pacific, and Latin America. The firm has 16 offices spanning the Americas (New York, São Paulo, Bogotá), Europe (London, Luxembourg, Paris, Madrid, Milan, Munich, Stockholm, Amsterdam), Asia Pacific (Hong Kong, Seoul, Singapore, Sydney, Tokyo). European deals historically dominate, but CVC has increased exposure to North America and Asia in recent years (per the firm's 2024 annual report).

CVC generally does not serve as a passive co-investor alongside external GPs; rather, it leads or co-leads majority-stake transactions through its own funds. The firm selectively offers co-investment opportunities to its limited partners in individual deals, typically through separate accounts or sidecar vehicles attached to its main funds. In its credit and infrastructure strategies, CVC occasionally partners with institutional capital on a deal-by-deal basis (per the firm's 2024 fund documentation).