Different sources have announced that global private equity firm CVC Capital Partners has decided to wind down its infrastructure team following a strategic review of the business.

The mentioned sources said that Stephen Vineburg, the team's chief executive, has recently left the firm.

Vineburg was hired by CVC in 2007 from Australian wealth manager Colonial First State to lead a new team to invest in core infrastructure such as transport, utilities, and telecoms assets.

The team dropped its plans to raise a €2 billion infrastructure fund due to a lack of investor demand. The fund had been launched a €2 billion in 2008. CVC chose to finance infrastructure acquisitions on a deal-by-deal-basis, but it did not make any investments under the new strategy.

James Harraway, who joined CVC in 2008 and was Investment Director, also left the firm in March 2014 to join Infracapital (M&G Investments). Former infrastructure managing director Alfredo Zamarriego left CVC in December 2013 and he is now working for Brookfield Asset Management. 

CVC holds a 25.8% stake in Abertis, the leading international toll road and telecommunications infrastructure operator. The firm agreed to invest jointly with ACS (60%/40%) in the firm in August 2010.