By Elena Vardon

CVC Capital Partners reported first-half results that broadly met analysts' estimates and said it is confident in its outlook as it is seeing momentum across fundraising, deployment and realizations.

The global buyout firm on Thursday reported 397 million euros ($463 million) in management fee earnings--one of its key performance indicators--for the six months ended June 30, up from 317 million euros a year prior and a touch below a 401 million-euro estimate taken from a company-compiled consensus. MFE margins rose two percentage point to 56%, in line with expectations, it said.

Management fees--the bulk of the group's revenue--was one-fifth higher and amounted to 705 million euros, though consensus had expected a 707 million-euro result. Performance-related earnings came in 16% lower at 96 million euros, it said, adding that this was in line with its expectations and that its result for the year should grow materially compared with what it reported for 2024.

Chief Executive Rob Lucas said operating performance for the first six months of the year was resilient.

"Clients are allocating ever more capital to scaled multi-asset managers such as CVC and we're seeing a further boost from increased interest in Europe," he said in a call with journalists, noting that a rebalancing away from the U.S. is taking place as people realize what the continent has to offer in terms of private equity.

CVC's fee-paying assets under management stood at around 140 billion euros at the end of the period, up 10% compared to a year prior. Almost half of these comprise credit, secondaries and infrastructure, it said.

In terms of investment activity, the group raised 6.3 billion euros in capital in the first half. Total deployments--or money invested--in the past twelve months rose to 24.9 billion euros from 20.4 billion euros a year prior, and most of this went to private equity and debt financing, it said.

Private-equity realizations--the money made from investment sales--increased to 13.2 billion euros as of the end of June from 11 billion euros a year earlier as exit activity rebounds following a period of downturn. Realizations this year are targeted to match or slightly exceed 2024 levels, it said.

The group is expanding its institutional client base and growing strongly in private wealth and insurance, Lucas added, noting that CVC is looking ahead with confidence despite navigating a complex market environment.

"We have exciting plans to launch new wealth vehicles in 2026, expanding into infrastructure and secondaries, and to take our [private equity] wealth offering into the U.S.," Lucas said.

CVC reported first-half earnings before interest, taxes, depreciation and amortization that were 14% higher than the year prior at 493 million euros, and net profit of 396 million euros, up 8% on year. Both metrics were roughly in line with expectations. It also declared an interim dividend of 0.235 euros a share.

Shares fell around 4.5% in European morning trading and are down 24% since the start of the year. CVC floated on Amsterdam's bourse in April last year.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

September 04, 2025 04:32 ET (08:32 GMT)

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