CVC Capital Partners, one of Europe’s largest private capital managers, said investor demand for European exposure is accelerating as limited partners rebalance away from the US, according to a report by Bloomberg.
“Interest in Europe will be sustained,” CEO Rob Lucas said on a media call following the firm’s half-year earnings. “We’ve had a period of time over the last year or two, where there’s been a huge level of interest in the US, and I think people are now re-balancing and are realising what Europe really has to offer.”
While acknowledging that Europe lacks the scale and liquidity of the US, Lucas argued that its complexity creates opportunities for firms with local teams to generate outsized returns. Rival managers including Apollo and KKR have also pointed to Europe as an increasingly attractive hunting ground in 2025, amid relative macroeconomic stability.
CVC reported strong capital returns, noting its private equity funds have distributed more to clients than they have called over the past three years. Realisations totalled €13.2bn ($15.4bn) in the first half of 2025, up more than 20% year-on-year, with full-year exits expected to match or slightly exceed 2024 levels.
Deal activity has picked up in recent months, providing long-awaited liquidity after a slow start to the year. CFO Fred Watt said that while IPO markets remain only partially open, there are signs of renewed interest from strategic buyers.
