Sovereign wealth funds buy 10% of CVC

Although CVC declined to comment on the new investors, Sky News identified two of them as the Kuwait Investment Authority (KIA) and the Government Investment Corporation of Singapore (GIC).

GIC previously acquired a stake in Apax Partners in 2009 and was joined by KIA in buying part of TPG last year. The Singaporean fund is also considered a likely buyer for part of AXA's private equity business, which has been on the block for a year now.

CVC is believed to be gearing up for a new fundraise, due to start at the end of the year. It closed its previous vehicle, European Equity Partners V, on €11bn in December 2008.

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• Topics
• UK / Ireland
• GPs
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• CVC Capital Partners