CVC Capital Partners: Difference between revisions
Content deleted Content added
m Reverted edits by 217.156.204.68 (talk) to last version by Kiwi128 |
|||
| Line 5: | Line 5: | ||
| foundation = 1981 |
| foundation = 1981 |
||
| founder = |
| founder = |
||
| location = |
| location = [[Luxembourg]] |
||
| key_people = |
| key_people = Donald Mackenzie, Rolly van Rappard, Steve Koltes |
||
| industry = [[Private equity]] |
| industry = [[Private equity]] |
||
| products = [[Private equity |
| products = [[Private equity]], [[venture capital]], credit asset management |
||
| AUM = $50 billion |
| AUM = Over $50 billion |
||
| homepage = {{URL|www.cvc.com}} |
| homepage = {{URL|www.cvc.com}} |
||
}} |
}} |
||
'''CVC Capital Partners''' is |
'''CVC Capital Partners ('CVC')''' is one of the world's leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of more than 20 offices and over 300 employees throughout Europe, Asia and US. |
||
To date, CVC has secured commitments of US$79 billion from some of the world's most discerning investors across our European and Asian private equity, credit and growth funds. In total, the CVC Group manages over US$52 billion of assets. |
|||
==History== |
|||
==CVC Capital Partners== |
|||
===Founding=== |
|||
Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, who entrust their capital to CVC for periods of 10 years or more. Raised from pension funds, financial institutions and various other partners, CVC funds seek to identify attractive investments and develop sustainable, long-term value in close partnership with management teams. |
|||
The U.S.-based bank, [[Citicorp]], had established an investment arm in 1968 to focus on [[venture capital]] investments. By the late 1970s and early 1980s, Citicorp Venture Capital, at that time under the leadership of chairman [[William T. Comfort]], continued to invest in early stage businesses but also expanded into the emerging [[leveraged buyout]] business. CVC Capital Partners was originally founded in 1981 as the European arm of Citicorp Venture Capital. |
|||
The CVC team's local knowledge and extensive contacts underpin a proven track record of over 30 years of investment success. CVC has completed over 300 private equity investments in a wide range of industries and countries across the globe, with an aggregate enterprise purchase value of approximately US$120 billion. Today, CVC funds have stakes in more than 60 companies worldwide, employing around 400,000 people in numerous countries. Together, these companies have combined annual sales of approximately US$110 billion. |
|||
{{history of private equity and venture capital}} |
|||
==CVC Credit Partners== |
|||
Among Citicorp Venture Capital's early managing directors in Europe were John Botts, Otto Van der Wyck, [[Jon Moulton]] and Frank Neale. Of the group's original European leadership, most would leave by the late 1980s. Botts left in 1987 to found his own boutique investment banking firm, Botts & Company. Moulton left the bank to co-found [[Schroder Ventures]] (the predecessor of [[Permira]]) in 1985. The following year, Van der Wyck left to co-found European private equity firm [[BC Partners]] in 1986 and today serves as chairman of [[AlpInvest]] and a senior advisor to [[Coller Capital]]. Neale also departed to join Phildrew Ventures, which subsequently became [[UBS Capital]] and later IRRfc. |
|||
CVC Credit Partners is an independent global asset management and investment group focused on sub-investment grade debt capital markets in the US and Europe. Founded in 2006, CVC Credit Partners is owned by the CVC Group and Resource America, Inc. CVC Credit Partners manages US$12 billion in assets across 37 vehicles with top quartile performance across credit cycles, achieving 'Fundraising of the year' Private Debt Investor Awards 2014 and global 'Manager of the Year' award at the Creditflux Manager Awards 2014. |
|||
CVC Credit Partners expertise combines best practice across origination, investment and credit evaluation, portfolio management and trading. The Firm invests across the capital structure, with dedicated vehicles for Performing Credit, Opportunistic Strategies and Direct Lending. |
|||
===Spinout from Citicorp and the 1990s=== |
|||
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.<ref>{{cite web|title=Briton who has steered CVC to the top|url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article1426538.ece|publisher=The Times|date=February 23, 2007}}</ref> 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]]. |
|||
CVC Credit Partners aims to work with investors to deliver superior risk adjusted returns. It provides tailored, flexible and value-added solutions for investors seeking access to speculative grade credit instruments. |
|||
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 individual]]s and institutional investors. Now independent, CVC also completed its transition from venture capital investments to [[leveraged buyout]]s 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. |
|||
For further information, please visit www.cvc.com. |
|||
===Since 2000=== |
|||
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]]<ref>{{cite web|title=CVC Capital Partners closes record €4.65bn European fund|url=http://www.altassets.com/private-equity-news/by-region/africa/mena/article/nz84.html|publisher=AltAssets|date=June 28, 2001}}</ref> Also, around the same time, CVC expanded into Asia with a $750 million fund focusing exclusively on investments in Asian companies. |
|||
In 2007, CVC expanded to the U.S., opening an office in [[New York City]], headed by Christopher Stadler and overseen by Rolly van Rappard.<ref name="fundiii">{{cite web|title=CVC sets up in US|url=http://www.altassets.net/private-equity-news/article/nz10230.html|publisher=AltAssets|date=January 31, 2007}}</ref> |
|||
==Investment funds== |
==Investment funds== |
||
Revision as of 09:17, 15 April 2015
.png) | |
| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 1981 |
| Headquarters | Luxembourg |
Key people | Donald Mackenzie, Rolly van Rappard, Steve Koltes |
| Products | Private equity, venture capital, credit asset management |
| Website | www |
CVC Capital Partners ('CVC') is one of the world's leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of more than 20 offices and over 300 employees throughout Europe, Asia and US.
To date, CVC has secured commitments of US$79 billion from some of the world's most discerning investors across our European and Asian private equity, credit and growth funds. In total, the CVC Group manages over US$52 billion of assets.
CVC Capital Partners
Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, who entrust their capital to CVC for periods of 10 years or more. Raised from pension funds, financial institutions and various other partners, CVC funds seek to identify attractive investments and develop sustainable, long-term value in close partnership with management teams.
The CVC team's local knowledge and extensive contacts underpin a proven track record of over 30 years of investment success. CVC has completed over 300 private equity investments in a wide range of industries and countries across the globe, with an aggregate enterprise purchase value of approximately US$120 billion. Today, CVC funds have stakes in more than 60 companies worldwide, employing around 400,000 people in numerous countries. Together, these companies have combined annual sales of approximately US$110 billion.
CVC Credit Partners
CVC Credit Partners is an independent global asset management and investment group focused on sub-investment grade debt capital markets in the US and Europe. Founded in 2006, CVC Credit Partners is owned by the CVC Group and Resource America, Inc. CVC Credit Partners manages US$12 billion in assets across 37 vehicles with top quartile performance across credit cycles, achieving 'Fundraising of the year' Private Debt Investor Awards 2014 and global 'Manager of the Year' award at the Creditflux Manager Awards 2014.
CVC Credit Partners expertise combines best practice across origination, investment and credit evaluation, portfolio management and trading. The Firm invests across the capital structure, with dedicated vehicles for Performing Credit, Opportunistic Strategies and Direct Lending.
CVC Credit Partners aims to work with investors to deliver superior risk adjusted returns. It provides tailored, flexible and value-added solutions for investors seeking access to speculative grade credit instruments.
For further information, please visit www.cvc.com.
Investment funds
| Fund[1] | Year | Region | Size (millions) |
| 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[2] | 2001 | Europe | $3,970 |
| CVC European Equity Partners IV[3] | 2005 | Europe | €6,000 |
| CVC Capital Partners Asia Pacific II | 2005 | Asia | $1,975 |
| CVC European Equity Partners IV Tandem Fund | 2006 | Europe | €4,123 |
| CVC European Equity Partners V | 2008 | Europe | €10,750 |
| CVC Capital Partners Asia Pacific III | 2008 | Asia | $4,119 |
| CVC European Equity Partners VI | 2013 | Europe | €10,907 |
Investments
Europe and the United States
The current European and US portfolio of companies includes:
- Cerved: Italian credit data and business intelligence company;[4]
- Pilot Travel Centers: truck stop chain in the United States (co-owned with Pilot Corporation);
- Formula One Group: motor sport management business;
- Samsonite: luggage company;
- Automobile Association: automotive rescue service provider in the UK;
- Merlin Entertainments: theme park operator, jointly controlled with KIRKBI/Blackstone Group
- ParmarCorp: leading Private Equity Europe and U.S all sectors;
- Cortefiel: apparel retailers in Spain;
- Seat Pagine Gialle: directories business in Italy;
- Leslie's Pool Supplies: U.S. retailer of swimming pool supplies;
- BPost: Belgian postal services operator;
- Univar: chemical distribution company in the US and Europe;
- R: a Spanish cable company based in Galicia, offering quadruple play services (telephone, mobile phone, Internet and television).
- Skrill: Online payments and money transfer
- Fraikin: Truck Leasing
It formerly included:
- StarBev: Prague-based brewery, their product line includes the Staropramen Czech lager, as well as international brands brewed and distributed under license. In 2012, StarBev was sold to Molson Coors,[5] which also resulted in a full withdrawal of CVC Capital Partners from Central and Eastern Europe.
Asia-Pacific
The current Asia Pacific portfolio includes:
- Zhuhai Zhongfu: Chinese PET bottler ;
- Nien Made: window shutter manufacturer, based in Taiwan;
- Plantation Timber Products: a wood fibreboards producer in China;
- Nine Entertainment Co.: Australian media group;
- DCA Group: diagnostic imaging center operator in Australia;
- Amtek: Singaporean precision metal components company;
- GS Paper and Packaging: Malaysian paper and packaging company;
- Skylark: restaurant operator in Japan;
- Minit Asia Pacific: shoe repair and key cutting provider in Japan;
- Shinwa Co.: system scaffolding supplier in Japan
- Matahari: Indonesian department store chain
- I-Med Network: Australian radiology company
- Hong Kong Broadband Network: Hong Kong broadband operator, acquired from City Telecom[6]
- SPi Global: A Philippines based BPO company (80/20 ownership between CVC and PLDT)
References
- ^ "Preqin Online Database". Preqin. October 11, 2009.
- ^ Cite error: The named reference
fundiiiwas invoked but never defined (see the help page). - ^ "Pan-European CVC closes €6bn European fund". AltAssets. July 29, 2005.
- ^ "CVC Capital to Buy Cerved for $1.49 Billion". NYTimes.com. March 1, 2013.
- ^ "StarBev Sale Brings Cheer To CVC". Invest IQ. April 9, 2012.
- ^ "CVC Capital Partners announces signing of acquisition of Hong Kong broadband network". CVC Capital Partners. April 11, 2012.
