CVC Capital Partners has appointed Todd Sisitsky, currently president and head of global private equity at TPG, as co-chief executive as the European private markets group prepares for the eventual departure of current CEO Rob Lucas, according to Private Equity Wire. Sisitsky will join CVC in the first quarter of 2028 and will share the CEO role with Peter Rutland, the firm’s president and head of financial services investments, according to Private Equity Wire. Sisitsky will also become chair as part of the group’s long-term succession plan, according to Private Equity Wire.
Timeline and succession at CVC
Rob Lucas has led CVC since 2021 and will remain with the firm after stepping down as CEO, according to Private Equity Wire. Lucas is expected to continue serving as a key person on a number of CVC’s private equity funds, according to Private Equity Wire. Sisitsky will share the CEO role with Peter Rutland, who is CVC’s president and head of financial services investments, according to Private Equity Wire.
Sisitsky’s role at TPG and departure
The appointment brings an external executive into CVC’s senior leadership, with Sisitsky moving across from TPG after more than two decades at the US private equity firm, according to Private Equity Wire. Sisitsky joined TPG in 2003 and became one of its leading healthcare investors, helping oversee investments including Par Pharmaceutical, Allogene and IQVIA, according to Private Equity Wire. Sisitsky subsequently rose to lead TPG’s healthcare investing, before becoming president and head of global private equity and ultimately the firm’s second-ranking executive behind CEO Jon Winkelried, according to Private Equity Wire.
TPG said Sisitsky had stepped down from his roles as president and a board member with immediate effect and would leave the firm, according to Private Equity Wire. Private Equity Wire reports that CVC’s appointment of Sisitsky was described as being “according to a report by the Financial Times.”
CVC platform expansion and Rutland continuity
At CVC, Sisitsky will take on a senior role as the firm continues to broaden its investment platform beyond its traditional private equity base, according to Private Equity Wire. The group has expanded into private credit, infrastructure and secondaries through acquisitions including Marathon Asset Management, DIF and Glendower Capital, according to Private Equity Wire.
Rutland, who has spent almost two decades at CVC, will provide continuity within the firm’s leadership team, according to Private Equity Wire. Rutland has overseen several major transactions, including CVC’s investment in Pension Insurance Corporation, which was subsequently sold to Apollo-backed Athora in a multibillion-dollar transaction, according to Private Equity Wire.
Widely known context
Private equity firms commonly use multi-year succession plans to manage leadership transitions. It is also widely known that acquisitions are a typical route for private markets groups to add strategies such as credit, infrastructure, and secondaries.
