CVC Seeks $2 Billion

CVC Capital Partners plans to begin raising a $2 billion infrastructure fund early next year, with a non-exclusive focus on opportunities in Europe. It will be run by Stephen Vineburg, who previously was global head for global infrastructure investment at Colonial First State Global Asset Management, a unit of Commonwealth Bank of Australia


CVC Capital Partners (“CVC”), a leading international private equity firm in Europe and Asia, announces the appointment of Stephen Vineburg as Chief Executive of a newly established infrastructure investment business. This new business will combine investment and industrial expertise to apply a value added approach to infrastructure asset investing.

A new $2 billion fund will be launched early in 2008, which will seek to make investments in infrastructure assets primarily in Europe but will also, where appropriate, invest in Asia and the US, reflecting CVC's international network and investment platform that has been built up over the last twenty years.

Prior to taking up this appointment Stephen Vineburg was Global Head of Infrastructure Investment at Colonial First State Global Asset Management, the investment management arm of Commonwealth Bank of Australia. He has been a pioneer of infrastructure investment managing portfolios of investments in toll roads, railways, airports and water, gas and electricity businesses for institutional clients since 1994. He has been responsible for a global portfolio which in Europe includes investments in the Inexus Group, Anglian Water Group and the recently announced acquisition of the Norweb electricity distribution business.

Stephen Vineburg comments, “I am looking forward to combining my sector expertise with CVC's existing international investment platform. The proposed fund will build on CVC's unrivalled access to investment opportunities and the skills, experience and investment track record of the team.”

Michael Smith comments, “CVC is committed to broaden its range of Alternative Asset classes, and CVC already has a record of successful infrastructure investment, a sector that has potential to see substantial growth. The sector is very complementary to CVC's private equity activities, and the business will benefit from CVC's network, and connections. We are delighted to welcome Stephen Vineburg as the Chief Executive of this new venture.”