Steve Koltes is an American-born Swiss-based banker and entrepreneur who founded CVC Capital Partners, Europe’s largest private equity firm.
Wiki/Biography
Steve Frederick Koltes was born in March 1956 (age 67 years; in 2023) in the United States. Steve Koltes studied up to grade 10 at William Penn Charter School in Philadelphia, United States. In seventh grade, Steve Koltes chose to study German. In an interview, Steve said that he wanted to learn French; however, he was unable to do so as there were no vacancies as a result of which he chose German. While talking about it, he said,
I was in seventh grade, and we had to take language. So, I chose French. I don’t know why I chose French, but I took French. I was only twelve, and at that age you can’t expect great judgment calls on language. Then I was told that the French class was full. Just filled in, and you need to choose another language. So I took German. I don’t know why I chose Germany, but I chose Germany.”
After finishing high school in the United States, in 1974, he went to Germany, under a student exchange program, and he finished his schooling there. Later, he enrolled at Middlebury College in Vermont, US, where he earned a bachelor’s degree in art.
Physical appearance
Height (approx): 5′ 11″
Hair Color: White
Eye Color: Hazel Blue
Family
Parents & Siblings
His mother, Nancy Hare Koltes, died on September 6, 2013. His father, John Albert Koltes, was a doctor. He died in 2011. Steve Koltes had two sisters, Karen Hare Koltes and Nancy Gilbert Koltes, and one brother, John Albert Koltes.
Wife & Children
His wife’s name is Corinne. He married her in Switzerland in 1988. They have a son and a daughter. His son’s name is Troy. and his daughter’s name is Kalya.
Career
In 1980, Steve joined Citigroup, where he worked as an executive officer and oversaw corporate banking and corporate finance in Zurich, London, and New York. In 1982, he was appointed managing director of Citicorp Venture Capital London. In 1993, Steve Koltes along with Michael Smith, Hardy McLain, Donald Mackenzie, Iain Parham, and Rolly Van Rappard made an agreement with Citigroup to establish CVC Capital Partners.
From 27 January 2000 to 20 February 2002, Koltes worked as a director at Automotive Sealing Systems Limited. On 17 December 2003, he was appointed as a director of CVC Advisers Limited; he held that position until July 20, 2008. In October 2012, Koltes along with Donald Mackenzie and Rolly Van Rappard assumed the position of chairman of CVC Capital Partners, replacing Michael Smith. In 2015, CVC Capital Partners bought a UK-based gambling company called Sky Betting & Gaming. Under his leadership, CVC Capital Partners acquired beverage company Starbev, suitcase manufacturer Samsonite, and the printing systems division of Badische Anilin und Soda Fabrik (BASF). CVC Capitals buys Formula One; however, after incurring losses, Formula One was sold to John Carl Malone’s Liberty Media for $8 billion.
Photo of Steve Koltes taken during a press conference
Steve Koltes has worked as a board member at Evonik Industries and Elster Group. In 2021, CVC Capital Partners acquired Gujarat Titans, an IPL team, for Rs. 5,600 crore. In October 2022, Steve Koltes resigned as chairman of the company. While giving an interview, Donald Mackenzie, co-founder of CVC Capital Partners and a close friend of Steve Koltes, spoke about Steve’s resignation from the position and said,
Throughout his years with the firm, Steve has been a tower of wisdom and determination and will be missed by us all. He leaves CVC as a world-leading investment firm with a great team and many opportunities for further growth. Steve and I have been good friends, business partners and fellow deal makers since the beginning of CVC. I will greatly miss his balance and stewardship of the CVC culture, and I know that everyone at CVC feels the same.”
Facts/Trivia
- Steve Koltes, Donald Mackenzie, and Rolly Van Rappard are also known as the kings of European purchases.
- In 2014, Steve Koltes received the Alumni Merit Award at William Penn Charter School.
Categories: Biography
Source: SCHOOL TRANG DAI
