European private equity firm CVC is set to buy a majority stake in Dutch infrastructure investor DIF Capital Partners in a deal worth around €1bn in cash and shares, according to four people with direct knowledge of the matter.
The transaction, which will be announced as soon as Tuesday, is intended as a means to help CVC expand its range of investment strategies ahead of an expected initial public offering.
The decision to acquire DIF comes as the largest private equity houses are pushing into other asset classes, including private credit and infrastructure. Founded in 2005, DIF manages €16bn in assets and employs more than 200 professionals across 11 offices, according to its website. The infrastructure firm invests across Europe, North America and Australia.
Read the full story on the Financial Times here.