(Bloomberg) -- CVC Capital Partners Plc raised €7.4 billion ($8.2 billion) in capital in the first six months of this year, according to the European marquee private equity firm’s first set of earnings as a listed company.
Total revenue grew 27% year-on-year to about €638 million in the first half of the year, while fee-paying assets under management increased by 45% to €142 billion from €98 billion at the end of 2023, CVC said in a statement on Thursday.
CVC started trading in Amsterdam in April, after a long-awaited initial public offering, raising €2 billion alongside its investors. The shares have climbed more than 30% since the listing, making CVC one of the most successful stocks to debut in Europe this year. It has outperformed peers such as Sweden’s EQT AB and London-listed Bridgepoint Group Plc.
It raised €26 billion last year for the world’s biggest-ever buyout fund — a sharp contrast to peers that had to delay fundraisings or adjust expectations. The firm has also been busy putting its cash pile to work.
CVC last week agreed to take a stake in Swedish property manager Odevo AB. That came weeks after a deal with a group of other backers to buy Hargreaves Lansdown Plc, which valued the UK investment platform at £5.4 billion ($7.1 billion).
©2024 Bloomberg L.P.
