(Bloomberg) Banks including Morgan Stanley and Goldman Sachs Group Inc. are lining up nearly €1 billion ($1.1 billion) of debt financing that will allow buyout shop CVC Capital Partners to hold on to Multiversity, one of its university investments, according to people familiar with the matter.Most Read from BloombergJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldUS Economy Slows and Inflation Jumps, Damping Soft-Landing HopesHuawei’s New Phone Runs Latest Version of Made-in-China
CVC Capital Partners founders Mackenzie, Koltes, van Rappard are top beneficiaries of the recent IPO, valuing the firm at $4.4 billion. Van Rappard continues as chairman, while CEO Lucas and managing partner de Jaime Guijarro hold significant stakes. Beyond allowing the founding partners to cash out part of their wealth in the closely held business, CVC s listing is also fueling hopes of a rebound in Europe s IPO market, even though a full-blown recovery in listings isn t fully expected until next year.
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