CVC Capital Partners Maintains Buy Rating After Strong H1 Performance

CVC Capital Partners, a leading global private markets manager, has approximately EUR 200 billion of assets under management as of December 31, 2024. The firm manages seven investment strategies in private equity, secondaries, credit, and infrastructure across 30 offices worldwide. Bank of America has reaffirmed its "Buy" rating for CVC following its H1 activity update.

CVC Capital Partners, a leading global private markets manager, has released its half-year 2025 activity update, showcasing robust fundraising momentum and strong operational performance. As of December 31, 2024, the firm manages approximately EUR 200 billion in assets under management, with a presence in 30 offices worldwide [1].

The key highlights of CVC’s H1-25 activity update include:

- Fundraising Momentum: CVC reports strong fundraising support across all active fundraises, with significant progress in Wealth and Insurance segments.
- Direct Lending Strategy (EUDL IV): The firm has raised €10bn+ of investable capital, surpassing its €6bn target [1].
- Secondaries: SOF VI is on track to exceed its $7bn target [1].
- Infrastructure: The strategy is progressing well, with a combined target of €8bn, and first closings anticipated before year-end [1].
- Private Equity: CVC launched CVC Catalyst, focusing on European midmarket buyouts with a $2bn target size [1].
- Wealth and Insurance: CVC-PE and CVC-CRED reported c.€2bn of aggregate value, with 40%+ of EUDL IV capital coming from the Insurance channel [1].

CVC also reported a 10% YoY growth in FPAUM, driven by the inclusion of Infrastructure, and LTM deployment grew 22% YoY, with a strong increase in Credit. Realisations grew 20% YoY, with attractive LTM gross realised returns of 3.3x MOIC and 27% IRR [1].

Rob Lucas, CEO of CVC Capital Partners, commented, "Building on our success in 2024, we have continued to deliver strong deployment, realisations, and portfolio performance, despite a volatile market backdrop. Importantly, we see good fundraising momentum across each of our strategies, underpinned by our investment track record, the depth of the CVC Network, our continued strong pace of realisations, and ever greater client interest in Europe" [1].

Bank of America has reaffirmed its "Buy" rating for CVC following the H1 activity update, underscoring the firm’s strong performance and market position [1].

References:
[1] https://www.cvc.com/media/news/2025/half-year-2025-activity-update/