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Date:Tuesday 22 May 2012
Title:Waddell & Reed, Norges Bank and BlackRock invest in Formula 1

Waddell & Reed, Norges Bank and BlackRock invest in Formula 1

 

CVC Capital Partners today announces that three leading institutional investors have together invested US$1.6 billion in cash for equity interests in Formula 1, acquiring in aggregate 21% of the company.

Mr. Donald Mackenzie, Managing Partner of CVC Capital Partners, said:

"This is great news for Formula 1 and an important step in its development. CVC became the controlling shareholder of Formula 1 in 2006. Since that date we have supported the company and its management as they have grown the company with great success. The addition of these three highly regarded investors to our share register is validation of this success, and we look forward to working with our new partners over the coming years."

CVC will continue to be Formula 1's largest and controlling shareholder.


ENDS


For further information, please contact:

James Olley, Brunswick   +44 20 7396 5302

 

CVC Capital Partners
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 20 offices and some 260 employees throughout Europe, US and Asia.

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. To date, CVC has raised over US$44 billion from a diverse and loyal investor base, completing over 290 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of US$169 billion. In total, we manage over US$37 billion and today, CVC funds own 61 companies worldwide, employing around 400,000 people in numerous countries. Together these companies have combined annual sales of over US$136 billion.


Waddell & Reed Financial, Inc.
Waddell & Reed Financial, Inc. Through its subsidiaries, Waddell & Reed Financial, Inc. (NYSE: WDR) provides investment management and financial planning services to clients throughout the United States. The firm had approximately $94 billion in total assets under management at March 31, 2012. Waddell & Reed Investment Management Company serves as investment advisor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios and InvestEd Portfolios, while Ivy Investment Management Company serves as investment advisor to Ivy Funds. Waddell & Reed, Inc. serves as principal underwriter and distributor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios and InvestEd Portfolios, while Ivy Funds Distributor, Inc. serves as principal underwriter and distributor to Ivy Funds.


Norges Bank Investment Management (NBIM)
Norges Bank Investment Management (NBIM) safeguards and builds financial wealth for future generations as the manager of the Norwegian Government Pension Fund Global. The fund is invested globally in equity, fixed-income and real estate markets. It held assets worth about $600 billion dollars at the end of March.


BlackRock, Inc
BlackRock, Inc (‘‘BlackRock'') is a Delaware corporation listed on the New York Stock Exchange (NYSE:BLK). BlackRock is one of the world's preeminent asset management firms and a provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world.