Belron explores one of Europe’s biggest IPOs in years as backers seek to cash in. Lawyers for LIV Golf told a US bankruptcy judge the league races to sign players for LIV 2.0 ahead of a 2027 season. Over the past couple of years, leadership of Europe’s largest private capital firms has turned over.

CVC Capital Partners hired Todd Sisitsky from rival TPG to become co-chief executive, joining in Q1 2028 alongside Peter Rutland to succeed Rob Lucas, who led CVC since its 2024 IPO. CVC joins European peers like Partners Group (replacing David Layton with co-CEOs Roberto Cagnati and Juri Jenkner), EQT, Cinven, and Permira (which named co-CEOs after Kurt Björklund). US giants show entrenched leadership: Blackstone’s Stephen Schwarzman and Jonathan Gray, Apollo’s Marc Rowan, KKR’s Scott Nuttall and Joseph Bae, Carlyle’s Harvey Schwartz, and TPG’s Jon Winkelried.

Sisitsky was second to Winkelried at TPG, where he joined in 2003 and became a prominent healthcare investor. CVC, seen as a high-return earner unlike “beta” peers, acquired Marathon Asset Management this year but struggles post-2024 IPO with flat share price. Sisitsky and Rutland may pursue a US dual listing if heavily incentivised in stock.

JPMorgan Chase’s annual 5K race is a Wall Street rite of passage. LVMH-backed L Catterton announced a majority investment in Hyrox, the German fitness race flooding Instagram and TikTok with sweaty runners and tattooed athletes grimacing through 100 wall balls.