CVC Capital Partners has signed a distribution agreement with UBS for its new semi-liquid private credit fund in Europe as the firm enters the competition for private wealth.
CVC, a private equity firm that listed in Amsterdam in April, currently has just 4% of its assets under management in the retail or wealth segment, according to a report from BofA Securities.
However, the firm expects this to rise to 5-10% in the next five years and is moving into the segment with new products.