CVC Credit Partners European Opps - Restructurings starting to bear fruit
CVC Credit Partners European Opportunities (CCPEOL) achieved an NAV return of 3.1% in sterling and 1.6% in euro terms in FY19. The investment vehicle through which CCPEOL invests achieved a gross return of 2.9% (in euro terms), behind its target of 8–10% per year. This was largely due to several restructuring processes within the credit opportunities pool taking longer than expected. However, these have shown good progress recently and, together with prospective new credit investment opportunities, now offer further upside potential for 2020. Meanwhile, the performing credit holdings delivered solid returns as the investment manager was able to profit from the recent ‘flight to quality’ in credit markets.CVC Credit Partners European Opportunities is a closed-ended investment company limited by shares. Co. invests predominantly in companies domiciled, or with material operations, in Western Europe across various industries. Co.'s investments are focused on senior secured obligations of such companies but investments are also made across the capital structure of such borrowers.
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