CVC Capital Partners is accelerating succession planning as it prepares for its next major fundraising, with dealmaker Peter Rutland emerging as a frontrunner to succeed chief executive Rob Lucas, according to a report by the Financial Times.
Lucas, who led CVC’s initial public offering on the Amsterdam stock exchange last year, is reportedly considering stepping down within the next two years. While Rutland is seen as a leading candidate, the role could also go to another partner, or Lucas may extend his tenure.
Rutland currently oversees buyouts in the financial services sector and led CVC’s investment in Pension Insurance Corporation, recently agreed to be sold to an Apollo-backed insurance group for £5.7 billion. Observers note his experience in insurance could help CVC expand as a diversified listed asset manager.
The Jersey-based firm manages €200bn across private equity, credit, and infrastructure strategies and plans to launch its next flagship buyout fund in 2027. Lucas, who joined CVC in 1996, holds shares valued at over €530 million based on his IPO stake.
CVC declined to comment.
