CVC Capital Partners (CVC) Q1 2026 TU earnings summary

Executive summary

• Fee-paying AUM reached €151bn, up €2.4bn quarter-over-quarter (+2%) and €8.9bn year-over-year (+6%), with non-PE strategies now 52% of total FPAUM and growing 14% YoY.

• Fundraising momentum was broad-based across institutional, private wealth, and insurance channels, with notable oversubscription in key funds.

• Realisations remained high at €5.0bn in Q1 and €21.5bn LTM, a 48% YoY increase, supporting future fundraising confidence.

• Value creation was strong, with LTM value creation of 11% ex. FX across Private Equity and Infrastructure, and Q1 value creation of 3.5% for Europe/Americas funds.

Financial highlights

• Private Equity realisations reached €4.1bn in Q1 and €18.6bn LTM, up 49% YoY, with realised returns of 2.9x gross MOIC and 22% IRR.

• LTM deployment totaled €24.7bn, in line with prior year, with €9.3bn in Private Equity and €15.4bn combined across Credit, Secondaries, and Infrastructure (up 22% YoY).

• Private Wealth aggregate value rose to €5.2bn, up €1.6bn (>40%) QoQ.

Outlook and guidance

• Fundraising pipeline remains robust, with final closes for several funds expected in Q3 2026.

• Value creation and realisation momentum underpin confidence in continued fundraising and deployment.