CVC Co-Founder Donald MacKenzie to Step Back From Active Role

CVC Capital Partners Co-Chair Donald Mackenzie is stepping down from an active role at the private equity firm he helped to set up in the early 1990s.

MacKenzie will become honorary co-chair with Steve Koltes, who announced similar plans to step back in 2022, according to an emailed statement Tuesday. MacKenzie will remain on the board of the asset manager as a non-executive.

CVC was spun out of Citigroup Inc. in 1993 and has about €188 billion ($202 billion) under management, according to its website.

The firm is one of Europe’s biggest PE firms. In November, it postponed its ...