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CVC Capital Partners Said to Plan Move in Health Care

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Nov. 14 (Bloomberg) -- CVC Capital Partners Ltd., the private-equity owner of Formula One motor racing, is preparing to start a dedicated team targeting the health-care industry, said three people with knowledge of the matter.

The leveraged-buyout firm has spent two months searching for a global head of health-care to be based in London, said the people, who asked not to be identified because the talks are private. The deal maker would probably join as a partner and build up a team of about four, said two of the people.

The specialist group would be the firm’s latest after those targeting financial institutions, technology companies and those in central and eastern Europe. The firm is investing a 10.5 billion-euro ($14 billion) pool it raised in July, the largest private-equity fund raised by a European firm since the financial crisis, according to Preqin Ltd., a London-based research firm.

Health-care companies in CVC’s portfolio include China-based Asia Health Century International and Spanish private hospital chain Idcsalud, according to its website.

Officials at London-based CVC declined to comment.

To contact the reporter on this story: Kiel Porter in London at kporter17@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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