The Luxembourg-based family office of CVC Capital Partners co-founder Rolly van Rappard has sharply increased in value, the Luxembourg Times reported.

According to accounts filed in Luxembourg, the book value of Steflot S.à r.l., the family’s main wealth vehicle, rose sixfold in 2024 to €1.37bn. The entity held assets worth nearly €2.2bn at the end of the year and generated profits of €202m.

The surge followed the sale of some shares in a CVC buyout fund to public investors, coinciding with the IPO of a Jersey-based CVC entity in Amsterdam. Van Rappard did not sell any of his personal 6.7% stake in CVC, which was valued at about $1.2bn based on the IPO price.

Founded in 2003, Steflot operates as a Luxembourg SPF structure, a regime designed to attract family offices through tax exemptions on income, capital gains, and dividends. Luxembourg has increasingly positioned itself as a hub for private equity-linked family wealth, benefiting from the growth and liquidity events of Europe’s largest buyout firms.

CVC remains Europe’s second-largest private equity group by assets, behind EQT, with investments spanning consumer brands, sports rights, and infrastructure.

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