CVC Capital Partners PLC

CVC Capital Partners is co-leading a consortium of institutional investors committing capital to Standard Life's UK pension risk transfer business. CVC will commit £400 million, or $545.8 million, to the partnership, to be drawn over multiple years, as part of a consortium led by CVC and Prudential Financial, alongside Goldman Sachs and MS&AD. Together with £500 million from Standard Life, the consortium will fund up to £2 billion in total. Under the deal, CVC will provide Standard Life's PRT business with access to private market investment opportunities, including asset-backed lending, structured credit, real estate credit, infra credit, direct lending, opportunistic and liquid credit, as the firm eyes the £1.2 trillion of defined benefit pension liabilities yet to transfer to insurers. Standard Life will retain majority control of the venture, holding 51% of voting rights, with CVC and the consortium providing capital and asset origination. The partnership is expected to close in the first half of 2027, subject to regulatory approval.

International Flavors & Fragrances reported second-quarter continuing-operations sales rose 6% to nearly $2 billion and adjusted operating EBITDA increased 6% to $408 million, driven by volume growth across all segments. The company is selling its Food Ingredients business to CVC Capital Partners for approximately $4.3 billion, retaining a 10% stake, and plans to use more than $1 billion of proceeds to reduce debt while addressing about $100 million in stranded costs. IFF introduced full-year 2026 guidance for continuing operations, projecting sales of $7.4 billion to $7.6 billion and EBITDA of $1.53 billion to $1.6 billion. The board authorized a $2.5 billion share-repurchase program, with about $500 million expected to be repurchased in the second half of 2026. The company also announced an agreement to sell a portfolio of non-strategic products with about $170 million in annual sales for approximately $75 million, expected to close in the fourth quarter of 2026.

CVC Capital Partners reported record realizations and a 9% year-on-year increase in fee-paying assets under management to 153 billion euros in the first half of 2026. Fee-related revenues rose 9% to 771 million euros, while fee-related earnings climbed 11% to 442 million euros, yielding a margin of 57%. Performance-related earnings were up 15% to 110 million euros, and EBITDA increased 12% to 554 million euros. The firm declared a 12% higher dividend per share and highlighted strong fundraising momentum with 11 billion euros in gross inflows, including successful closes for Catalyst at 3.4 billion dollars and SOF VI at 9.3 billion dollars. Portfolio companies delivered 13% EBITDA growth over the last twelve months, and the private wealth channel scaled rapidly with evergreen structures reaching 7 billion euros in aggregate value, up four times year-on-year.

Alimentation Couche-Tard has agreed to acquire Polish convenience retailer Żabka Group in a transaction with an equity value of 32.62 billion zlotys, or 8.74 billion dollars. The Canadian company will launch a voluntary tender offer through its subsidiary Circle K Polska at 32 zlotys per share in cash, with shareholders representing approximately 57 percent of Żabka's shares, including CVC Capital Partners and Partners Group, having signed hard irrevocable undertakings to tender their stakes. Couche-Tard described the deal as its largest acquisition to date and expects it to increase adjusted EBITDA margin immediately while raising earnings per share from year two onward, with identified cost and revenue synergies of about 250 million dollars. The transaction, which has unanimous support from Żabka's leadership team, is subject to regulatory approvals including merger control clearance and foreign direct investment review, with completion expected by December 2026 at the latest. If Couche-Tard obtains at least 95 percent of voting rights, it intends to squeeze out remaining shareholders and delist Żabka from the Warsaw Stock Exchange.

CVC Capital Partners has agreed to acquire Italian packaging automation firm Clevertech from the Reggiani family. Financial terms were not disclosed. CVC will invest through its CVC Capital Partners IX fund, purchasing the entire share capital from family holding company REFA, which will reinvest as a minority shareholder. Clevertech, founded in 1987 and based in Cadelbosco di Sopra, reported 2025 revenue of €236 million and EBITDA of more than €70 million. Founder Giuseppe Reggiani will remain chairman and CEO, with the current leadership team staying in place. The deal, expected to close by end of 2026 pending regulatory approvals, aims to support global expansion and innovation.

Republic Finance has entered into a definitive agreement to be acquired by an investor group led by J.C. Flowers & Co. alongside Nowlake Technology. Majority owner CVC Capital Partners will exit its investment, while the Phillips family will retain an equity stake and management will continue to lead the company. Republic Finance is a consumer loan provider with over 70 years of experience, operating across 17 states. The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals. Terms of the deal were not disclosed.