At some point in the future, the threat of COVID-19 will begin to fade. When that will be is still anybody’s guess. But whenever that wonderful day arrives, it seems safe to assume that post-pandemic life is going to look a little different.
An example: For many, the idea of crowding into a tightly packed gym to lift weights, do yoga or take a spin class with a bunch of other sweaty, panting people might not hold the same appeal it used to.
It’s only a hypothesis. But if a $500 million deal lined up this week is any indication, it’s one that an athletic apparel icon is taking very seriously.
Since March 11, nearly 45,000 employees have been laid off across more than 370 venture-backed companies. That’s just one of many startling statistics from the past several months. But it may be the starkest indication of the widespread changes the pandemic has wrought across the startup scene.
CVC Capital co-founder and co-chair Donald Mackenzie
(Bryn Lennon/Getty Images)
CVC Capital Partners has reportedly closed its eighth flagship buyout fund on around €21.3 billion (about $24.1 billion), making it Europe’s largest buyout fund to date.
The vehicle, which tore through its initial €17.5 billion target, is the first European mega-fund—vehicles with more than $5 billion in commitments—to reach a close since the COVID-19 crisis began.
The close could mark a rebound for European PE fundraising activity, which saw a significant drop in Q1 with just €10.9 billion raised across 20 vehicles, according to PitchBook’s Q1 European breakdown report.