CVC has created a new President role, appointing Peter Rutland, as the firm accelerates succession planning ahead of its next fundraising, according to a report by the Financial Times citing people familiar with the matter. Rutland currently leads financial services buyouts at the firm.
Rutland joined in 2007 and has led a number of high-profile investments, including Pension Insurance Corporation, which CVC recently agreed to sell in a £5.7bn transaction to an Apollo-backed insurance group.
The firm has also promoted Søren Vestergaard-Poulsen to chief investment officer for its private equity business. Vestergaard-Poulsen oversees CVC’s Nordic private equity operations and co-chairs the firm’s private equity board.
Vestergaard-Poulsen joined CVC in 1998 and led CVC’s investment in German retailer Douglas, which listed in Frankfurt last year after nearly a decade under CVC ownership.
The appointments follow CVC’s public listing in April last year and come as the firm prepares for a planned fundraising for its next flagship buyout fund in 2027. Shares in CVC are reportedly trading slightly below their €14 offer price.
