CVC Capital lines up veteran Lucas to spearhead $15bn stock market float

The buyout giant CVC Capital Partners has picked a veteran partner to spearhead a $15bn (£11bn) stock market listing that will underline the resurgent trend of private equity firms selling shares to public investors.

Sky News has learnt that Rob Lucas, who has worked at Luxembourg-headquartered CVC since 1996, is to become chief executive of the listed company that plans to float on the London stock market later this year.

If it proceeds, it will be among the most prominent listings undertaken by global private equity investors.

Image: CVC’s investments include Formula One and the roadside recovery service RAC

CVC’s investments have included Formula One motor racing, the Six Nations rugby tournament, the RAC breakdown recovery service and Debenhams, the department store chain.

Last week, Sky News revealed that the firm had teamed up with Bain Capital to bid for Boots, Britain’s biggest chain of high street chemists.


Mr Lucas, who is a former chairman of the private equity industry’s main UK trade body, serves as the co-chairman of CVC’s private equity board for Europe, the Middle East and Americas.

He also chairs the investment committee for the firm’s Europe/Americas and strategic opportunities activities.

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The choice of Mr Lucas for the chief executive’s role is significant because he will be occupy a frontline role in terms of future public scrutiny of CVC’s operations.

Listen to “Employment figures, Christmas trading and driverless cars”.

CVC manages roughly $125bn in assets and would join the likes of Blackstone and KKR – both of which are listed in New York – as publicly traded private equity firms.

Last week, TPG was valued at more than $10bn after floating in the US, while other listed buyout firms include Bridgepoint, which launched a successful listing last year.

Sources close to CVC, which declined to comment, insist it has yet to make a formal decision to list.