CVC Capital Partners Ltd., through CVC Capital Partners VII LP or CVC Fund VII, agreed to buy a 50% stake in Multiversity.

Multiversity is the owner of Italian online university Universitá Telematica Pegaso and Mercatorum University.

Founder Danilo Iervolino will continue to hold the remaining 50% interest and will remain chairman and CEO. The deal should help Multiversity execute on its growth strategy in Italy and across the globe, the executive said.

CVC was assisted by Legance, Bain & Co., PwC Advisory and Facchini Rossi e Michelutti. Multiversity was supported by Studio Bifolco & Associati, EY Advisory – M&A and Gianni Origoni Grippo Cappelli & Partners.