CVC set to launch US$16b IPO: WSJ

The news: Private equity giant CVC is preparing to launch its planned share sale in Amsterdam on Monday with a valuation target of USD16 billion ($24.66 billion), according to unnamed sources cited by the Wall Street Journal.

The numbers: CVC manages around USD198 billion in investments across private equity, credit and infrastructure. In 2021, alternative asset manager Blue Owl Capital bought a minority stake in CVC, valuing the company at USD15 billion.

The context: CVC previously attempted to IPO in November last year at a reported USD12 billion valuation, however, pulled its listing plans as conflict in the Middle East began to erupt.

The Journal reports that provided the offering goes ahead as planned, CVC is seeking to raise more than €1 billion by selling stock from existing shareholders and issuing new shares.