Phoenix and CVC will not tie the knot

The protracted courtship of closed life fund consolidator Phoenix Group by private equity firm CVC Capital Partners has ended with both parties agreeing it is best to go their separate ways.

The protracted courtship of closed life fund consolidator Phoenix Group by private equity firm CVC Capital Partners has ended with both parties agreeing it is best to go their separate ways.

CVC and Phoenix have been discussing a possible bid by the former for the latter since late November 2011 after Phoenix rebuffed a bid approach from sector peer Resolution, but the parties have been unable to agree on a price that pleases both parties.

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