Private markets firm CVC will acquire a majority stake in infrastructure firm DIF Capital Partners, creating a €177 billion ($193.7 billion) money manager.
DIF is headquartered in Amsterdam and has €16 billion in assets under management across two investment strategies, focusing on core/build-to-core and core-plus infrastructure, primarily in Europe, North America and Australia. The firm was founded in 2005 and has a team of more than 225 across 11 offices.
CVC's investment will help accelerate DIF's growth, which will retain its brand and independence over operations and investment decisions, a Tuesday news release said.
The deal is expected to close in the fourth quarter or first quarter of 2024, subject to regulatory and other consents.
CVC runs strategies across private equity, secondaries and credit and has about €161 billion in assets under management.