CVC Capital Partners launch $14bn Global Sport Group
Six Nations investors CVC Capital Partners have formed a $14bn Global Sport Group entity which will focus on the growing interest in the sporting sector.
Reportedly announced in London this week, the private equity juggernaut – with over $225bn assets under management – will house the firm’s sporting investments and offer opportunities to scale valuations. It is understood to be the largest sports fund across the private equity sector.
The move followed reported plans from earlier this year to refinance its £9bn United Kingdom portfolio, and a willingness to engage Gulf sovereign wealth in the future of CVC Capital Partners.
Chaired by former EE chief Marc Allera, the Global Sport Group is set to combine the seven leagues who count CVC Capital Partners as investors.
CVC Capital Partners on the march
The investment firm currently holds the Indian Premier League team Gujarat Titans within its portfolio, but has recently sold a majority stake in the franchise with an option to shift its remaining holding open. It is understood this minority stake does not form part of Global Sport Group.
Further to that, CVC Capital Partners has investment in the Spanish top flight LaLiga, which wants to stage a match between Barcelona and Villarreal in Miami this December, as well as Prem Rugby, the United Rugby Championship, the Six Nations, Ligue 1, Volleyball World and WTA Ventures.
Sportico reports that former WWE figures Michelle Wilson and George Barrios form part of the leadership, while former Dazn chief Simon Denyer, and CVC’s former rugby holdings COO Alkit Patel will also be involved.
The firm floated on the Amsterdam-based Euronext in 2024, eight years after it offloaded Formula 1 in its first global sports sale.
CVC Capital Partners’ ventures into sport have had mixed results, with their Prem Rugby investment struggling more than their Six Nations injection. The firm reportedly had their Paris offices raided last year as part of a potential corruption investigation relating to French football.
The firm was founded in 1981 with Rob Lucas currently at its head as chief executive.