Government-backed funds in Kuwait and Singapore have acquired a stake in CVC Capital Partners, the buyout firm which counts Formula One (F1) motor racing and the owner of Madame Tussauds among its investments.
I have learnt that entities connected to the Kuwait Investment Authority (KIA) and the Government Investment Corporation of Singapore (GIC) and an unidentified Asian fund have bought 10% of CVC's management company in a deal which reinforces its status as one of the most influential private investors in the world.
The transaction was struck in June and was outlined to investors in CVC's funds (without identifying the new shareholders) at the time. It was also discussed at the firm's annual conference in London last week.
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