CVC Capital Partners are taking a new approach to their investments in 2014, and have decided to target the ever lucrative technology industry, reports Financial News. It is well known within the private equity marketplace that CVC raised a total of $10.5billion in 2013, and there has been little activity from CVC to date so far this year.
While it is unknown how much of this large fund is being put over to the technology industry, the hire of John Clark to oversee future deals in this sector indicates that it is a clear focus area moving forward. Clark is a vastly experienced investor who has previously spent 25 years with Welsh, Carson, Anderson & Stowe. Clark’s new position will see him based in New York.
The most notable thing about investments in the technology sector is that they are available all around the world, more so in comparison to other investment areas. CVC are likely to exploit opportunities in the United States, as well as those in Europe, Israel, and the Far East. Although there are currently no concrete leads related to investments CVC are planning to make, they have made it known they are looking at building their mid-market presence.
Lorne Somerville, a CVC Partner, told Financial News, “Our recent investments in AVAST and Cerved in Europe and SPi Global in Asia highlight our strong interest in the software and tech-enabled business services sectors. We are very fortunate to be able to attract an investor of John’s calibre and I look forward to working with him to expand our presence in these sectors especially in the middle market.”
Whether this will influence CVC’s investment decisions over the next 9 months remains to be seen, but it is likely that the headline deals done by this firm are all going to be in the technology industry.