Private equity firm CVC is adding horseback riding to its sports empire. The private markets manager has agreed to acquire a controlling stake in Equine Network, a for-profit equestrian sports league operating in the United States, from Growth Catalyst Partners.
This deal represents the first new league investment for CVC's Global Sports Group, which already manages stakes in eight leagues and competitions across the firm's portfolio. The transaction is expected to close in the second quarter of 2026, pending regulatory approvals.
Lazard advised CVC on the deal, while William Blair represented Growth Catalyst Partners and Equine Network.
New Leadership Taking the Reins
Once the sale wraps up, Michelle Wilson and George Barrios—who serve as GSG directors and co-presidents of WWE—will step into co-chair roles at Equine Network alongside Tom Winsor and the existing management team.
"CVC's track record in building and scaling global sports platforms, combined with the expertise of the GSG team, makes them ideal partners as we look to expand our leagues, enhance fan engagement and data capabilities, as well as unlock new commercial opportunities for the benefit of our members and stakeholders," Winsor said.
Wilson and Barrios noted that "Equine Network has an attractive position in a large, participation-led equine sports market and is well positioned to benefit from GSG's value creation capabilities."
CVC established its Global Sports Group in 2025 as a platform for managing sports league investments held across its funds. The portfolio includes some heavy hitters: La Liga, Ligue 1, the Women's Tennis Association, Volleyball World, and three rugby competitions—Six Nations Rugby, Premiership Rugby, and United Rugby Championship.
