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CVC Capital Partners agreed to buy Glendower Capital, a London-based private equity secondaries firm that manages around €8 billion in capital commitments.

Why it matters: This highlights a major consolidation push in the private equity secondaries market, with at least five announced deals so far in 2021.

Details: Glendower spun out of Deutsche Asset Management in 2017, and has been raising $3.5 billion for its fifth fund. It invests both in LP fund portfolios and GP-led transactions, and will continue to operate independently under the Glendower name.

The bottom line: CVC adds AUM and diversification that could be helpful were it to eventually follow the IPO path of British buyout peers Bridgepoint and EQT.

CVC buys private equity firm Glendower Capital

The acquisition highlights a major consolidation push in the private equity secondaries market.

Private equity

CVC Capital Partners agreed to buy Glendower Capital, a London-based private equity secondaries firm that manages around €8 billion in capital commitments.Why it matters: This highlights a major consolidation push in the private equity secondaries market, with at least five announced deals so far in 2021.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

CVC buys private equity firm Glendower Capital

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