CVC Capital Partners is seeking co-investors to support a proposed $12.7bn takeover of Italian drugmaker Recordati, according to Bloomberg.

The private equity firm has initiated discussions with institutional investors including Groupe Bruxelles Lambert, Abu Dhabi Investment Authority, GIC, and CDPQ to assemble the equity required for the transaction.

In addition, CVC is expected to structure the deal through a more recent fund, with equity requirements estimated between $6.4bn and $7.0bn, underscoring the scale of capital needed to execute the acquisition.

The move follows CVC’s €52 per share offer for Recordati and reflects a broader strategy to consolidate its position in the pharmaceutical sector. The firm is also evaluating potential strategic options for the business, including a divestment of its rare diseases unit.

If completed, the transaction would rank among the largest buyouts in Europe, highlighting private equity’s continued ability to mobilise significant capital for large-scale deals.

Discussions remain ongoing and there is no certainty that a transaction will be finalised.

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