Global buyout firm CVC Capital Partners, the owner of IPL franchise Gujarat Titans, Monday announced plans to launch an initial public offering “in the coming weeks” and list on Euronext Amsterdam.
The IPO is expected to raise a minimum of €1.25 billion, with €250m coming from a mix of new shares as well as the sale of shares by existing shareholders.
Certain funds managed by Blue Owl’s GP Strategic Capital Platform, formerly known as Dyal Capital have committed to invest in up to 10% of the offering, increasing the shareholding of the Blue Owl GPSC funds from the approximately 8% interest acquired in November 2021 at a then valuation of €15bn.
Per the Wall Street Journal, CVC is seeking an enterprise valuation of €15bn for its public offering.
CVC manages approximately €186 billion of assets under management (AUM) across seven complementary investment strategies in private equity, secondaries, credit and infrastructure.
For the record, CVC Capital bought Gujarat Titans, IPL’s Ahmedabad franchisee, for Rs 5,625 crore in 2021.
