March 11 (Reuters) - Private equity firm CVC Capital Partners reported on Wednesday an annual profit slightly above expectations. One of the world's largest private equity managers delivered an
CVC earnings guidance disappoints, shares fall
CVC Capital Partners Reports Lower Than Expected Earnings Outlook
By Jakob Van Calster and Olivier Cherfan
March 11 (Reuters) - Private equity firm CVC Capital Partners announced on Wednesday a lower near-term performance-related earnings (PRE) outlook than expected, sending its shares down.
Asset Management and Earnings Forecast
One of the world's largest private equity managers said it sees fee-paying assets under management (FPAUM) of around 200 billion euros ($231.92 billion) by the end of 2028.
It forecasts performance related earnings (PRE) of 600 to 700 million euros between 2026 and 2027, stepping up to 1.2 to 1.5 billion euros by 2028 to 2029.
Analyst Expectations and Market Reaction
The company's earnings 2026-2027 outlook came in below analyst expectations of around 1.1 billion euros, J.P. Morgan analysts said in a research note.
Realisations - the cash generated and distributed from successful disposals - came in at 21.9 billion euros, climbing 67% on the year as 2025 proved a turning point after global economic uncertainty and high interest rates weighed on dealmaking in previous years.
CEO Comments and Regional Exposure
CEO Rob Lucas told reporters he hoped to see the same momentum in 2026, but added "realisations are always a bit lumpy and slightly unpredictable".
The company noted its limited presence in the Middle East as renewed American and Israeli bombing in Iran fuelled market volatility.
Its shares were down 6.9% at 0922 GMT.
Financial Results and Shareholder Returns
The company delivered an adjusted after-tax profit of 873 million euros in 2025, beating the 867 million euros expected in its company-compiled analyst consensus.
CVC will propose an additional dividend of around 0.235 euro per share, bringing the full year total to 0.47 euro per share. It also said it would launch a share buyback programme of 350 million euros to commence immediately.
Currency Conversion and Reporting Notes
($1 = 0.8597 euros)
(Reporting by Olivier Cherfan and Jakob Van Calster in Gdansk; Editing by Matt Scuffham)
