Private equity firm CVC Capital Partners is opening its first U.S. office in New York. Christopher Stadler, until recently the head of InvestCorp's private equity business in North America, has joined CVC as a managing partner to run the office.
Working with Stadler to set up the U.S. office will be Rolly van Rappard, a co-founder of CVC Capital Partners Group.
Based in London, CVC has 17 offices in Europe and Asia. Since 1996, the firm has raised and managed funds of approximately $24 billion. The New York office will enable CVC to "pursue companies with global operations while maintaining a local presence in the regions in which the firm invests," the firm said.
In 2006, CVC completed nine transactions, investing a total of $2.7 billion. Current funds total in excess of $15 billion, ranking CVC among the top five private equity firms worldwide. Investments include Flint Group, the largest privately owned ink manufacturer in the world, UK-based racing company Formula One Group, and Elster Group, a manufacturer of the utility meters.