CVC Capital’s Mazza Sees Private Equity Exits Under Pressure
- Sees managers sitting on assets, not wanting to ‘face reality’
- Calls net asset value financing a ‘controversial’ practice
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Private equity firms are finding new ways to monetize investments and return cash to their investors amid a sluggish market for exits, according to a top CVC Capital Partners executive.
“Exits and pressure to return liquidity is sort of the new big topic of the last 12-24 months,” Giampiero Mazza, a managing partner at CVC, said during the Bloomberg Future of Finance event in Milan on Thursday. “A lot of managers sitting on assets bought at high multiples don’t really want to face reality.”