CVC Capital Partners, with €140bn in assets under management, the acquisition of DIF Capital Partners on Tuesday 5 September 2023.

Beyond merely taking a controlling stake, CVC is also committed to eventually acquiring the remaining shares of DIF. This move is expected to create a bigger company in the global private markets, with around €177bn in total managed assets.

This acquisition is also significant for the Luxembourg financial landscape, affirming the grand duchy’s position as a European centre for global alternative investment management.

CVC, already a well-entrenched global alternative investment manager, boasts operations across 25 international offices and oversees €90bn in assets through its private equity division alone. On the other side of this partnership, DIF brings €16bn in assets under management, a staff of over 225 professionals and a presence in 11 offices worldwide.

The collaboration promises to fast-track DIF’s growth initiatives, while the company will maintain its brand and leadership structure.

Rolly van Rappard, chair and co-founder of CVC, stated, “We are excited to join forces with DIF, a top-performing global infrastructure manager. DIF’s business model and culture is deeply aligned with our local model, and our new infrastructure platform will prove highly complementary to our leading private equity, secondary and credit strategies. We are pleased to welcome Wim, the DIF Partners and the entire DIF team to the CVC group and together, we look forward to being a global leader in infrastructure.”

Wim Blaasse, DIF’s CEO and managing partner, added, “We are delighted to be teaming up with CVC, which is a natural step in the evolution of DIF and, together with my partners, I look forward to leading DIF in this next phase of growth.”

Subject to regulatory clearances, the deal is projected to be finalised between the last quarter of 2023 and the first quarter of 2024. CVC was advised by JPMorgan, and DIF was advised by Morgan Stanley, Loyens & Loeff, PwC and De Brauw.