Private equity firm CVC Capital Partners is reportedly set to wind down its infrastructure team, whose CEO Stephen Vineburg has already departed.
The decision follows a strategic review and CVC has decided that core infrastructure investments do not fit with its strategy, a person familiar with the situation told Dow Jones.
CVC is still open to making core-plus type infrastructure investments through its main fund, said the source.
The firm launched a €2bn infrastructure fund, but cancelled the fundraise in July last year amid lack of interest from LPs.
Last month CVC held a final close of $3.5bn for its fourth Asia Pacific fund.
Copyright © 2014 AltAssets