Equity firm takes floor in Paramount's 712 Fifth Ave.London-based CVC Capital Partners CVC Capital Partners is a European private equity firm. CVC was founded in 1981 as the European private equity arm of Citigroup, but after a buyout in 1993 it is owned by its management. In 1999, CVC established CVC Asia Pacific, which is a joint venture with Citigroup. , which operates the most extensive and longest-established team of any private equity group in Europe, has opened a Stateside state·side adj. 1. Of or in the continental United States. 2. Alaska Of or in the 48 contiguous states of the United States. adv. Informal 1. office in Manhattan. David Dusek, senior managing director of Studley, represented CVC See CSC. in its 9,727 s/f lease for the entire 43rd floor at 712 Fifth Avenue owned by The Paramount Group, Inc. "The trend for British and European private equity firms to secure footholds in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of is definitely on the rise," said Mr. Dusek, who added that two other private equity firms, 3i Group and BC Partners, both London-based, recently opened offices at 375 Park Avenue and 667 Madison Avenue respectively. "As a leading global buyout shop, targeting US based companies, it is crucial for CVC be operational in the United States, in order to be competitive with such giants as Blackstone, KKR KKR Korringa-Kohn-Rostoker (method) KKR Kohlberg, Kravis & Roberts & Co. KKR Kalkara (postal locality, Malta) KKR Kramers-Kronig Relations KKR Komarappa Gounder Ramalingam (hospital in India) and TPG TPG Texas Pacific Group TPG Tapping TPG Transports Publics Genevois (Geneva, Switzerland public transportation) TPG Test Pattern Generator TPG TNT Post Group TPG Trésorier Payeur Général , among other private equity firms. 712 Fifth Avenue, situated squarely in the Plaza District, is exactly where CVC wanted to be located, in high-end offices with stunning panoramic Central Park views, in close proximity to its client base." The 52-story 550,000 s/f 712 Fifth Avenue, which houses Henri Bendels flagship, is also home to an eclectic tenant roster, which includes Christian Dior, Canali, USA, Sonnenblick-Goldman, Elliott Associates, and NCH NCH National Coalition for the Homeless NCH National Coalition for History NCH National Council for Hypnotherapy (UK) NCH National Center for Homeopathy NCH Notched NCH National Claims History NCH Nielsen Clearing House Capital. Arthur Bocchi of Paramount acted in-house on behalf of the landlord in the transaction. Jennifer Morgan Esq. at Kirkland & Ellis represented CVC, while Bernie Marasco Esq. Paramount's in-house counsel, represented the landlord. Founded in 1981, CVC Capital Partners currently has $18 billion under management. The company has raised and managed over $24 billion in Europe and Asia, has acquired over 220 companies in Europe and operates an integrated European network of 12 offices. CVC Asia was formed in 1999 and operates a network of offices in Hong Kong, Seoul, Sydney and Tokyo. |
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