CVC Secondary Partners (formerly Glendower Capital)

HeadquartersLondon, UK

FoundedGlendower era pre-2021 (rebranded 2024)

OwnershipPart of CVC Capital Partners

StrategyLP-led fund stakes, GP-led secondaries and continuation vehicles

Scale~$8B+ in aggregate capital commitments at the time of the CVC deal

Glendower Capital built a specialist secondaries business in London focused on fund portfolio secondaries and GP-led transactions — including continuation funds, asset sales, and fund recapitalizations — closing over 130 transactions across more than 900 underlying fund interests before its ownership changed hands.

CVC Capital Partners agreed to acquire Glendower starting in 2021, initially forming a strategic partnership before completing its purchase of the remaining stake in 2024, at which point the business was rebranded CVC Secondary Partners as a fully integrated part of CVC's platform.

The deal gave CVC — historically known as a large-cap buyout firm — a dedicated secondaries capability, mirroring how several of the largest buyout and credit managers have added secondaries through acquisition rather than building the capability from scratch.

Worth knowing

CVC took a staged approach — a strategic partnership first, then full ownership three years later — rather than a single acquisition.

See the full buyer directory, or read the glossaryfor the terms (LP-led, GP-led, continuation fund) that describe how firms like this actually transact.