“We have spent more than 40 years building the CVC Network,… and neither I nor any of my active partners are selling shares as part of this transaction,” stated Rob Lucas, CEO of the Luxembourg-domiciled private equity firm CVC, as the company announced its intention to launch an offering and list on Euronext Amsterdam. Photo: CVC Capital Partners

“We have spent more than 40 years building the CVC Network,… and neither I nor any of my active partners are selling shares as part of this transaction,” stated Rob Lucas, CEO of the Luxembourg-domiciled private equity firm CVC, as the company announced its intention to launch an offering and list on Euronext Amsterdam. Photo: CVC Capital Partners

Luxembourg-headquartered CVC Holdings announced its intention to launch an IPO on Euronext Amsterdam soon, aiming to raise approximately €250m in primary proceeds, in a press release on Monday.

The private equity and investment advisory firm CVC Holdings Limited has announced its intention to launch an initial public offering on Euronext Amsterdam. The company, which plans to change its name to CVC Capital Partners plc, and its controlled undertakings collectively manage approximately €186bn of assets under management, in a press release on Monday 15 April.

The IPO is expected to involve both new shares issued by the company and existing shares offered by selling shareholders. The offering aims to raise primary proceeds of approximately €250m for the group through the issuance of new shares, alongside a sale of existing shares by certain shareholders who are not active employees of the group. The offering is anticipated to have a minimum size of €1.25bn to ensure sufficient liquidity, excluding shares that may be transferred pursuant to an over-allotment option.

CVC’s move towards an IPO reflects its long-term vision to create an enduring institutional structure that will support the group's continued growth and evolution as a leading private markets manager, the firm stated. Rob Lucas, the chief executive officer of CVC, emphasised in the announcement that the IPO will provide access to public capital markets, aiding in long-term growth and enhancing the group’s profile with existing and prospective clients.

CVC’s financial performance underscores its strength in the market. As of the year ended 31 December 2023, the group generated adjusted aggregated revenue of €1.094bn, management fees of €917m, and adjusted aggregated Ebitda of €650m. The aggregated MFE margin stood at 52% during the same period.

The company’s ownership structure as of 31 December 2023 primarily consisted of approximately 74% held by management shareholders, approximately 18% by strategic investors, and approximately 8% by Blue Owl GPSC funds. Following admission, the company will adopt a one share, one vote model and adhere to the UK Corporate Governance Code.

CVC stated that the run-rate post-fundraising Ebitda is expected to be approximately €1.160bn to €1.535bn. In respect of the six months ending 31 December 2024, the company expects to pay a dividend amounting to €225m in aggregate.

CVC has a network of 29 local office locations across five continents, and over 1,150 employees globally.

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