Sources said Blackburn launched a mini charm offensive, wanting it known that the private equity firm had the capital and ambition to re-enter Australia’s MA market in a big way, and compete with the likes of KKR, Blackstone and The Carlyle Group for Australian assets.
Sources reckon Blackburn, who’s renowned as being close to CVC’s top dogs in London, made it clear he would have access to the group’s CVC Capital Partners Asia Pacific Fund V, a $US4.5 billion vehicle that was raised in 2020, and head office types who controlled where capital could be spent. The other part of his pitch was said to be CVC’s stack of dry powder in its global funds, which could be used to bankroll big Australian-based deals, similar to the way the firm went after Brambles earlier this year.CVC is one of the big PE players globally, with €133 billion in assets under management across its private equity, secondaries and credit strategies.
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