CVC first acquired Teneo in 2019 at a valuation of more than $700m, buying out BC Partners' interest in the process. While CVC retains majority ownership, members of Teneo's management team will also continue to hold equity in the firm. LGT's stake is understood to be in the double-digit range, and follows a consistent strategy by the firm to take minority positions in growing private companies. The Liechtenstein-based asset manager now oversees more than $100bn in assets. Headquartered in New York, Teneo has grown into one of the world's largest CEO advisory platforms, providing public relations, financial communications, restructuring, and strategic counsel to major corporations such as Chevron, Unilever, and Tesco. Founded in 2011, Teneo has pursued aggressive inorganic growth, acquiring a string of UK-based PR boutiques including Tulchan, Blue Rubicon, and Stockwell, along with Deloitte's British restructuring business in 2021. That unit has reportedly outperformed many of...
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