At SuperReturn 2025 in Berlin, the discussion around Europe’s role in private equity was both timely and encouraging. While some have spoken of a renaissance, our experience at CVC suggests Europe never truly receded as a market. It has long been a complex, diverse, and rewarding market for those with the patience and presence to navigate it effectively.
A Long-Term Commitment to Local Markets
Europe’s variety—from major economies to smaller, less-well known markets - demands deep local knowledge and sustained investment. With a forty-year history across the region, CVC has built teams across geographies that are deeply embedded in their markets. This has enabled us to uncover opportunities not always visible from the outside. For example, the opening of our office in Athens and our strong support for Greece, particularly during the challenging 2013–2015 period, illustrates the potential of long-term commitment and early engagement.
Investing Through Volatility
The current environment remains uncertain, shaped by macroeconomic and geopolitical headwinds. Yet history shows that periods of dislocation can lay the foundation for strong future performance. Investing through these moments, with discipline and a steady cadence, has led to some of our most successful investments.
Our approach continues to be guided by long-term planning, rather than short-term reactions. Many opportunities we pursue have been in development over several years—relationships matter, and being present on the ground remains a significant advantage.
The Role of Realisations
Realised returns continue to be a key area of focus for LPs, and rightly so. At CVC, we’ve prioritised realisations through every phase of the cycle and have returned more capital than we’ve deployed over past 3-5 years. Maintaining this discipline helps reinforce trust and demonstrate performance over time.
Industry Consolidation and Evolution
As the private equity industry matures, consolidation is becoming more common. This is a natural progression, given the increasing demands around compliance, sustainability, and innovation. Expanding our own platform—while keeping our focus on performance and culture—has helped us meet these expectations without losing sight of what matters most: delivering value for our investors.
Looking Ahead
Private equity has shown itself to be highly adaptable. While the current landscape presents challenges, it also offers meaningful opportunities for thoughtful, long-term investors. With strong local teams, enduring relationships, and a disciplined approach, we believe the European market will continue to be a source of significant potential.