Luxembourg-based private equity giant CVC Capital Partners has announced the opening of its new office in Edinburgh, expanding the firm’s presence in the UK “and establishing a permanent base in one of Europe’s historic financial centres.”

The new office in South Gyle will shortly be home to 20 people as the firm builds its presence in the city and “draws on Scotland’s deep pool of financial and professional talent.”

CVC is a global private markets manager focused on private equity, secondaries, credit and infrastructure with a global network of 31 local offices and about €240 billion of assets under management.

Ken Young, Managing Partner and Chief Operating Officer, said:  “There is a fantastic pool of talent in Edinburgh, thanks to the city’s history as one of the world’s first global financial centres and as a birthplace of the modern asset management industry.

“There has always been a strong Scottish cohort within CVC’s leadership, so we are particularly proud to be putting down roots here.

“Edinburgh combines a remarkable financial heritage with a thriving, modern professional community. We’re starting with a small team, but we see real potential to grow our presence here.”