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. ( leveraged buyout and the venture capital bubble)īy 2000, CVC was one of the largest and best known private equity firms in Europe. CVC would follow up with its second fund in 1996, its first fully independent of Citibank, with $840 million of capital commitments. Now independent, CVC also completed its transition from venture capital investments to leveraged buyouts and investments in mature businesses. CVC operated offices in London, Paris and Frankfurt.įollowing the spinout, CVC raised its first investment fund with $300 million of commitments, half coming from Citicorp and the rest from high-net-worth individuals and institutional investors. 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. 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.
History Spinout from Citicorp and the 1990s īy 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.
CVC was founded in 1981 and, as of 31 March 2022, has over 650 employees working across its network of 25 offices throughout EMEA, Asia and the Americas. As of 31 December 2021, the funds managed or advised by CVC are invested in more than 100 companies worldwide, employing over 450,000 people in numerous countries. CVC Capital Partners is a Luxembourg-based private equity and investment advisory firm with approximately US$133 billion of assets under management and approximately €157 billion in secured commitments since inception across American, European and Asian private equity, secondaries and credit funds.
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