CVC Capital Partners announced Monday that it has hired Todd Sisitsky, formerly the second-in-command at rival private equity firm TPG, to become its co-chief executive. The appointment marks a significant personnel move for one of the world’s largest asset managers.
Sisitsky joins CVC with a reputation for overseeing substantial dealmaking and portfolio management operations. His recruitment from TPG highlights the ongoing competition among top-tier private equity houses for experienced leadership talent.
The firm intends to officially name him co-CEO as part of a planned leadership transition. No further details regarding the timeline or specific operational responsibilities were disclosed in the initial announcement.
Co-CEO model? That’s interesting. Hopefully it brings stability rather than bureaucratic gridlock at the helm.
Big move by CVC. Taking a #2 from TPG shows they’re serious about scaling up amid fierce competition.