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March 17, 2025
PI Global Investments
Private Equity

Donald Mackenzie, the billionaire Scottish tycoon you’ve never heard of


A publicity-averse Scottish accountant with a long private equity career and renowned deal-making prowess has been revealed to be a paper billionaire.

Donald Mackenzie, who studied law at the University of Dundee, will be little known to many in his homeland.

However, CVC, the private equity firm he co-founded more than 30 years ago, has been behind many blockbuster transactions, buying into sports such as Formula One, cricket, rugby and Spanish football.

Its portfolio has included names as diverse as RAC, PG Tips, Breitling, the AA, Halfords, Debenhams and Saga.

Mackenzie, 67, started his corporate career at 3i, the stock market-listed private equity group, then left to join Citicorp in 1988. Supposedly he had become frustrated when colleagues at 3i would not back his investment



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