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The Markets
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Investments and investor services

CVC Capital listing spells out the money in private equity

CVC Capital's three founders have amassed a combined fortune of €2.6bn (£2.2bn) according to the prospectus published ahead of the private equity group's listing in Amsterdam.

Founded when they bought the business out of Citigroup in 1993, CVC is expected to be valued at around €15 billion when trading gets underway.

Donald Mackenzie, who holds 7% of shares, is selling up to €150 million worth of his stake while Rolly van Rappard has a stake worth €950 million and the third co-founder Steve Koltes around €600 million.

CVC is best known for making a fortune through its involvement in Formula One, buying it in 2008 and selling it to Liberty Media (NASDAQ:LINTA) for US$8 billion in 2016.

Currently, it has a stake in Six Nations rugby as part of €180 billion of assets under management that also includes a stake in the media rights for La Liga in Spain.

Trading in CVC shares starts in Amsterdam on Friday having been priced initially at between €13-€15 each.

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