Key Highlights
Q1 2025 Activity Update
- Year-on-year FPAUM growth of +42%, driven primarily by the activation of Europe / Americas Fund IX and Asia VI in H1-24. This strong FPAUM growth will continue to drive significant Management Fee Revenue growth in 2025
- LTM deployment grew strongly year-on-year (+44%), driven by a recovery in Private Equity deployment and good growth in Credit (+41% year-on-year). Overall deployment remains consistent with our 3-4 year fund cycle
- LTM realisations grew significantly year-on-year (+49%), with strong Q1-25 realisations underpinning our confidence in delivering full-year realisations at, or slightly above, 2024 levels
- Value creation across the Private Equity and Infrastructure portfolios of c.10% over the LTM period, despite the ongoing economic uncertainty and market volatility
- We continue to see good fundraising momentum: we remain confident in hitting our targets for SOF VI ($7bn) and for our two Infrastructure funds (€8bn in aggregate); at quarter-end, we have raised €8.2bn of investable capital for EUDL IV (+31% vs. EUDL III); and we have raised €1.3bn of Evergreen capital in under twelve months
Rob Lucas, CEO, comments: "Whilst there has been an increase in economic uncertainty over recent months, we are executing on plan. The CVC Network continues to generate attractive investment opportunities, and overall deployment remains in line with our 3-4 year fund cycles. We continue to expect realisations for 2025 to be at, or slightly above, 2024 levels, supported by strong realisations in Q1. And our fundraising momentum remains strong across strategies and channels."