CVC Capital Partners has roped in TPG president Todd Sisitsky as co-chief executive officer alongside current president Peter Rutland, as part of a leadership transition that will see the duo take over from CEO Rob Lucas by the first quarter of 2028.
Sisitsky will also chair CVC’s partner board, the firm said in a statement Tuesday.
The succession plan underscores CVC’s effort to maintain continuity while expanding and diversifying its private-markets platform. Lucas has led the group since June 2021, including through its listing on Euronext Amsterdam in April 2024.
Lucas will remain involved with CVC following the transition, continuing on the investment committees for Europe/Americas, Strategic Opportunities and Catalyst. He will also remain a key man for Europe/Americas Fund X.
Sisitsky has spent more than two decades at TPG and has served as the firm’s president since 2021. He was also co-chair of TPG’s Management Committee and served on its board and executive committee.
His career has primarily focused on healthcare investing, including leadership of TPG Capital, the firm’s flagship private equity strategy. As president, his responsibilities expanded across several private equity strategies, as well as TPG’s organic and inorganic growth initiatives.
Rutland, meanwhile, has been with CVC for 19 years and is currently president and managing partner. He oversees the firm’s credit & insurance, secondaries and infrastructure strategies and has long led CVC’s global financial services sector team.
CVC said Rutland’s appointment as co-CEO reflects the strength of its internal leadership pipeline and provides continuity as the firm enters its next phase of growth.
Soren Vestergaard-Poulsen will remain chief investment officer for private equity and continue to chair CVC’s Europe/Americas, Strategic Opportunities and Catalyst investment committees.
The planned transition is part of CVC’s broader approach to multi-year succession planning at senior levels, with the firm saying the changes are intended to reinforce its focus on investment performance, growth and diversification.
