CVC Capital Partners, a leading global private equity and investment firm, has announced a significant strategic move involving one of its portfolio companies. In a definitive agreement, CVC has decided to sell a majority stake of 67% in the Gujarat Titans, a highly successful Indian Premier League (IPL) franchise, to Torrent Group. This decision marks a noteworthy development in CVC’s sports investment portfolio and its broader strategy regarding its diverse range of companies.
Siddharth Patel, Managing Partner at CVC Capital Partners, highlighted the successful journey with Gujarat Titans, stating, “Our participation in Indian Cricket started strongly, securing the Gujarat franchise, winning the IPL title in our first season and emerging as runners up in our second season.” This reflects the value creation CVC aims for within its portfolio companies, showcasing their ability to identify and nurture high-growth opportunities. Amit Soni, Partner at CVC, further emphasized the strategic rationale by welcoming the partnership with Torrent Group, anticipating “new avenues for growth and development for Gujarat Titans and for the IPL in the years to come.”
This sale aligns with CVC Capital Partners’ history of strategic investments in the sports sector, including notable ventures in Moto GP and Formula One, as Nick Clarry, Managing Partner at CVC, pointed out. The Gujarat Titans investment exemplifies CVC’s approach to building leading franchises, both on and off the field. The transaction is now subject to customary closing conditions and approvals, including from the BCCI, paving the way for a new chapter for Gujarat Titans under the Torrent Group’s ownership, while CVC Capital Partners continues to refine its portfolio of companies and strategic investments globally.
