Global fund CVC eyes potential new acquisitions in Cyprus

CVC Capital Partners, a leading global alternative investment manager focused on private equity, secondaries and credit, plans to expand even further in Cyprus following a series of high-profile investments.

Citing inside sources, InBusinessNews has reported that the fund has been feeling out a number of large companies, organisations and chains on the island, to see if there are ground for potential acquisitions.

The same sources said that CVC’s “targets” are not just limited to the health sector but extend into other business industries, such as catering.

Having acquired, through Hellenic Healthcare Group (HHG), first the Apollonion Private Hospital and then the Aretaeio Hospital, CVC already occupies a leading position in Cyprus’ healthcare sector, most recently acquiring Gialletto Ltd, a company which is active in the provision of radiological and related services.

CVC has a global network of 29 local offices and €177b of assets under management.

It is noted that during his visit to New York last September, President Nikos Christodoulides met with a CVC Partner and discussed the fund’s experience with doing business in Cyprus in the vital health sector, as well as the potential for more investments in other sectors.

Meanwhile, well-placed sources from within the company, again speaking to InBusinessNews, have refuted Greek press reports that CVC is considering selling its group of hospitals and diagnostic centres in Greece and Cyprus.

The sources clarified that this was simply not the case and that to the contrary, the fund continues with its investment strategy in the two countries, with the health sector remaining a basic pillar of its investment priorities.