CVC, a prominent global private equity manager, is set to acquire a majority stake in DIF Capital Partners, a leading infrastructure manager.
This strategic acquisition aligns with CVC’s broader private equity, secondary, and credit strategies, creating a comprehensive private markets management platform.
DIF will maintain its operational independence and decision-making authority while operating under the DIF brand. CVC’s commitment also includes gradually acquiring the remaining shares of DIF over time.
CVC strategy behind DIF’s Acquisition
CVC’s strategic acquisition of DIF Capital Partners presents a significant opportunity for both firms. This move allows CVC to enhance its infrastructure offerings, aligning seamlessly with its existing private equity, secondary, and credit strategies.
DIF, headquartered in Amsterdam with €16 billion in assets under management, operates with over 225 professionals across 11 offices. It pursues two distinct investment strategies, the Core/Build-to-Core funds and the Core-plus funds, and has established itself as a leader in mid-market infrastructure investments, particularly in Europe, North America, and Australia.
Some of DIF recent deals includes:
- DIF invests £200m in battery developer and operator in the UK
- DIF Capital Partners Leads €250 Million Funding Round Expand Optical Fibre Rollout in Finland
This collaboration with CVC positions DIF for accelerated growth, enabling the expansion of its investment capabilities, geographical footprint, and global investor base.
Importantly, DIF will maintain its autonomy and operate under its existing brand, with its current CEO and Partners continuing to lead the way.
DIF's acquisition by CVC - Leadership Comments
The leadership teams at CVC and DIF are enthusiastic about their strategic partnership and the potential it holds for both organizations.
Rolly van Rappard, CVC’s Chair and Co-Founder, emphasized the logical progression of expanding into infrastructure, citing the sector’s long-term growth prospects and alignment with CVC’s existing strategies. He also praised DIF as a top-tier global infrastructure manager with an impressive track record.
Rob Lucas, Managing Partner at CVC, echoed this sentiment, highlighting the cultural alignment and complementarity between CVC’s model and DIF’s business. He emphasized the potential synergy between their new infrastructure platform and CVC’s existing private equity, secondary, and credit strategies.
Wim Blaasse, CEO and Managing Partner at DIF, expressed excitement about the partnership and the growth opportunities it unlocks. He highlighted the alignment of values and the potential for DIF to leverage CVC’s global platform, scale, and investor relationships.
DIF's acquisition by CVC - Deal Next Steps
The completion of this transaction is subject to obtaining regulatory and other required approvals, and it is anticipated to finalize either in the fourth quarter of 2023 or the first quarter of 2024.
As part of this process, the Dutch Works Council of DIF has been informed about the transaction and has provided a positive recommendation.
The key transaction advisors are listed below.
Key Transaction Advisors | |
CVC Capital | DIF |
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