CVC Capital Partners shares fell on Wednesday after the firm issued a near-term outlook for performance-related earnings (PRE) that was lower-than-expected, according to a report by Reuters.
The private equity manager said it expects PRE of €600m–€700m across 2026 and 2027, rising to €1.2bn–€1.5bn by 2028–2029. Analysts at JP Morgan had forecast PRE of around €1.1bn for the 2026–2027 period.
Despite the softer outlook, CVC reported an adjusted after-tax profit of €873m for 2025, slightly ahead of the €867m expected in a company-compiled analyst consensus.
Realisations totalled €21.9bn, up 67% year on year as deal activity rebounded after a period of slower transactions driven by higher interest rates and macroeconomic uncertainty.
CVC also said it expects fee-paying assets under management to reach about €200bn by the end of 2028. The firm noted that it has a relatively limited presence in the Middle East amid rising regional tensions.
The company said it will propose an additional dividend of €0.235 per share, bringing the full-year payout to €0.47 per share, and plans to launch a €350m share buyback programme.
CVC shares were reportedly down about 6.9% in early trading.
