Key Highlights
Half-Year 2025 Activity Update
- Fundraising momentum in H1-25 remains strong across each of our active fundraises, reflecting strong support from our institutional clients for CVC funds, overlaid with positive progress in Wealth and Insurance
- Credit: €10bn+ of investable capital raised for our European Direct Lending strategy (EUDL IV) vs. a €6bn target
- Secondaries: SOF VI is on track to exceed its $7bn target
- Infrastructure: Progressing well with €8bn combined target, and first closings anticipated before year-end
- Private Equity: Launch of CVC Catalyst, focussed on European midmarket buyouts ($2bn target size), and building on our 40-year track record of successfully investing into European mid-market buyouts
- Wealth: c.€2bn of aggregate value1 across CVC-PE and CVC-CRED
- Insurance: 40%+ of the capital raised in H1-25 for EUDL IV comes from this channel
- FPAUM growth of 10% YoY, driven by the inclusion of Infrastructure; €20bn of gross LTM inflows across Credit, Private Equity, and Secondaries
- LTM deployment grew 22% YoY, with a strong increase in Credit as we rapidly scale our Private Credit business
- Building further on the strong pace of realisations in 2024, LTM
realisations grew 20% YoY. We continue to generate very attractive LTM gross realised returns of 3.3x MOIC and 27% IRR2 - Portfolio operating performance remains resilient with LTM EBITDA growth of 10% across Private Equity
Rob Lucas, CEO, comments: "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. Including 1 July 2025 subscriptions and corresponding leverage, as applicable.
2. Weighted average by invested capital for Private Equity realised investments.