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Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms.
The IPO, which had been delayed twice due to Russia’s invasion of Ukraine and the outbreak of Israel/Hamas war, is expected to raise more than $1.3B.
Rob Lucas, CVC CEO, said the IPO “provides an enduring long-term institutional structure to further future growth.”
Neither Lucas nor any active partners are selling shares as part of the transaction.
CVC shares will trade on the Euronext Amsterdam market.
The Luxembourg-based company has nearly $200B in assets under management and 29 offices in five continents.
Teneo senior managing director Tom Murray represents CVC.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
