CVC Capital Partners, the Jersey headquartered private equity firm with €186bn in assets under management, reported a stronger-than-expected annual profit for 2024, bolstered by a significant increase in management fees.
Following its successful €2.3bn IPO last year — one of Europe’s largest debuts — CVC saw its adjusted after-tax profit rise by 36% to €830m ($903.79m), surpassing the average analyst estimate of €748m.
The firm attributed much of this growth to a 23% increase in management fees, which reached €1.33bn for the year. Looking ahead, CVC expects strong growth in management fee earnings throughout 2025.
In a statement, CEO Robert Lucas said: “While the economic and geopolitical environment remains uncertain, our experience shows that these conditions can provide some of our most attractive investment opportunities.”
The firm’s adjusted EBITDA came in at €966m, ahead of the €874m anticipated by analysts.
In addition to the profit report, CVC announced a dividend of €0.21 per share for the second half of the year, resulting in a total of €225m to be distributed to shareholders.
