CVC Capital Partners is bringing in a senior executive from rival TPG as part of a planned leadership transition at the private equity firm.

Todd Sisitsky, currently TPG’s president and head of global private equity, will join CVC in the first quarter of 2028 and become co-CEO alongside Peter Rutland, the firm’s president and head of financial services investments, The Financial Times reported. 

Sisitsky and Rutland are expected to succeed Rob Lucas, who has led CVC since its 2024 initial public offering.

Sisitsky will also chair CVC’s partner board, giving him a central role in the firm’s next phase. His appointment marks a relatively unusual move for CVC, which has historically promoted leaders from within its own ranks.

Sisitsky spent more than two decades at TPG and has built a reputation as a prominent health care investor, helping oversee investments including Par Pharmaceuticals, Allogene and Iqvia.

The leadership change comes as CVC expands beyond traditional buyouts into credit, infrastructure and secondaries. The firm manages more than $200 billion in assets across those strategies.

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