Hours after CVC Capital Partners had disclosed the enormous riches on offer to private equity tycoons, the Bank of England was warning about potential risks that the £6.4 trillion global buyout industry posed to everyone else.
On Monday, CVC, one of Europe’s biggest buyout firms, published the prospectus for an initial public offering in Amsterdam, a document that ran to more than 500 pages and shed light on the normally opaque world of private equity.
In it, CVC revealed that its three co-founders were expected to be left with big stakes valued at a combined €2.3 billion, based on the €14-a-share listing price. They include Donald Mackenzie, 67, a Scot who started his career as an accountant, who will hold a stake worth €817 million