CVC extends its partnership with Multiversity

CVC is pleased to announce it has extended its partnership with Multiversity, a leading Italian online higher education provider, through a transfer of the business from CVC Capital Partners VII ("Fund VII") to a CVC managed continuation fund. CVC Capital Partners VIII ("Fund VIII") is also expected to be an investor in Multiversity.

Multiversity has demonstrated impressive performance since CVC Fund VII's initial investment in 2019, underpinned by its ability to unlock an under served and largely under penetrated Italian undergraduate market. The business has also made significant investments in academic quality, student journey, and managerial talent, transitioning from a family owned company to a professionalised corporate operator.

Extending the partnership with Multiversity, will enable CVC to continue to support the business's growth ambitions, while providing continuity and stability.

Lazard and Morgan Stanley acted as financial advisor to CVC. The debt financing is arranged by Morgan Stanley, Goldman Sachs and a group of additional underwriters.

The closing of the transaction is subject to obtaining the customary investor approvals.