CVC Credit Partners eyes €300m IPO for European Opportunities fund

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CVC Capital Partners‘ credit arm is planning to raise €300m through an IPO of its CVC Credit Partners European Opportunities fund.

The fund, which focuses on sub-investment grade debt capital markets in the US and Europe, will seek to invest in up to 40 companies with at least €75m of EBITDA, targeting annual returns of eight to 12 per cent.

CVC Credit Partners European Opportunities chairman Richard Boleat said, “A combination of structural change among historic lenders to the European leveraged loan market and the refinancing needs of sub-investment grade companies are generating significant opportunities in the credit space.”

Goldman Sachs Group and Dexion Capital will oversee the IPO.

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