8 September 2023

CVC to buy Dutch company DIF Capital Partners for €1 billion

CVC Capital Partners expands its presence in the infrastructure sector through an agreement with DIF Capital Partners. The move is aimed at diversifying the portfolio in preparation for a potential stock market listing.

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Founded in 2005, DIF manages €16 billion in assets and has more than 200 employees in 11 offices. Among the company's most recent major transactions is a £200m investment in UK battery storage developer Field. Earlier this year, the DIF unveiled plans to invest in various businesses, including a Finnish fibre-optic network and a Canadian geothermal energy company. Private equity firms are increasingly favouring infrastructure investments due to their reliable returns, leading to the growth of equity funds focused on this strategy. For example, several large investment firms, including New York giants such as Blackstone and KKR & Co, have established dedicated divisions in the infrastructure sector that have become key contributors to their largest deals.

CVC is a private equity firm with operations in Europe, Asia and the US and an established network of 25 offices. With an impressive portfolio, CVC manages approximately €140 billion in assets. The funds CVC manages or advises are invested in more than 125 companies worldwide, with a total annual turnover of approximately €100 billion and employing more than 550,000 people.

In July, CVC announced that it had managed to raise €26 billion for the world's largest "buyout" fund, even in the current challenging conditions for raising new capital. Unlike other large PE funds such as Apollo, Blackstone and the Carlyle Group, CVC has so far remained unlisted. However, the firm is considering an initial public offering (IPO). This year, CVC has already entered into agreements to invest in Danish transport company Scan Global Logistics, Brazilian food distributor Delly's and the Women's Tennis Association.