£193.9m market cap
94.2p last close
CVC Credit Partners European Opportunities is a closed-end investment company, domiciled in Jersey and listed in London. It invests through a Luxembourg vehicle, CVC European Credit Opportunities, aiming to provide investors with regular income and capital appreciation from a diversified portfolio of predominantly sub-investment grade debt instruments. The portfolio is split into two pools, performing credit and credit opportunities.
CVC Credit Partners European Opportunities (CCPEOL) has achieved a total NAV return loss of 4% (it targets an 8% return) in the last 12 months, affected by market turbulence. CCPEOL has a significant weighting to stressed assets in its portfolio. Although credit markets have rebounded from the March lows, the performing credit segment is still trading at historically low valuations. The manager sees the greatest opportunity in the upper CCC and lower B segments and in structured finance. As such, although the manager expects the markets to remain volatile, it has positioned its portfolio towards the more opportunistic spectrum of the credit market.