CVC Seeks to Raise €2.75 Billion Against Its GSG Sport Franchise

CVC Capital Partners is looking to raise €2.75 billion ($3.2 billion) of debt against its sports franchise, whose investments range from Spanish football’s top division and English professional rugby to volleyball and women’s tennis.

The alternative investment manager’s Global Sports Group is in talks with institutional investors on the private debt, which is structured to be repaid in five, 10 and 25 years, people with knowledge of the matter said. The debt will be ranked at investment grade, the people said, which is unusual for private equity firms, who typically raise more-expensive sub-investment grade debt on their assets.