The Scoop
European private-equity firm CVC has hired a top TPG executive to be its co-CEO, people familiar with the matter said.
Todd Sisitsky, who has been TPG’s president since 2021, will join CVC when his non-compete expires in a year or longer, the people said. At that time, he’ll split the role with CVC’s No. 2 executive, Peter Rutland, as CEO Rob Lucas steps down.
Representatives for TPG and CVC declined to comment.
This is a developing story.
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CVC, which went public in 2024 after two false starts, manages about $250 billion across buyouts, lending, and infrastructure. Like other private-equity firms, it has struggled to monetize its investments lately, undershooting its guidance to shareholders for deal profits for the past two years. It had been ramping up its succession planning starting last year, The Financial Times reported.