CVC Nears Takeover of $5.8 Billion Asset Manager Glendower (2)

CVC Capital Partners is nearing a purchase of secondary buyout specialist Glendower Capital, according to people familiar with the matter, in a deal that will provide the private equity firm with a new strategy to lure investors.

The two investment firms are in advanced discussions and a partnership could be announced in the coming weeks, the people said, asking not to be identified discussing confidential information. Glendower management is expected to remain with the firm following any deal, the people said.

U.K.-based Glendower manages $5.8 billion and uses this money to buy existing portfolios of private equity fund holdings. ...