One of the most influential private equity investors in sports and entertainment is reviving a long-discussed move to go public, further escalating its already lofty ambitions.
The Luxembourg-based CVC Capital Partners — which owned Formula 1 prior to Liberty Media’s takeover — had previously looked at initial public offerings at multiple points over the last two years, but backed off due to what were seen as unfavorable market conditions, including last year’s market plunge following Russia’s invasion of Ukraine.
But after raising more than $28 billion for its ninth private equity fund targeting Europe and the Americas, CVC Capital Partners’ current strength has reportedly sparked renewed consideration for a potential stock listing in the Netherlands before the end of the year.
A final decision hasn’t been made.
CVC Capital Partners’ varied sports-related interests include equity stakes in:
- Bruin Capital
- France’s soccer governing body
- Indian Premier League’s Gujarat Titans
- La Liga
- Premiership Rugby
- Six Nations Rugby
- Sports Illustrated and Reebok parent Authentic Brands Group
- United Rugby Championship
- Volleyball World
The IPO would help CVC Capital Partners expand the scope of its operations beyond an initial focus on buyouts. It is one of the largest private equity firms in the world with about $153 billion of assets under management.