Steve Koltes is an American-born banker and entrepreneur who now lives in Switzerland. He is the co-founder of CVC Capital Partners, Europe’s largest private equity firm.
Wiki/Biography
Steve Frederick Koltes was born in March 1956 in the United States (age 67 as of 2023). Steve Koltes attended William Penn Charter School in Philadelphia, USA, through 10th grade. In seventh grade, Steve Cortes chose to study German. Steve stated in an interview that he wanted to study French; however, he was unable to do so as there were no vacancies, so he chose German. Talking about this, he said:
I was in seventh grade and we had to learn a language. So, I chose French. I don’t know why I chose French, but I chose French. I was only twelve, and at that age you can’t expect to have great judgment about language. Then I was told that the French class was full. Just fills in and you have to choose another language. So I chose German. I don’t know why I chose German, but I chose German. “
In 1974, after graduating from high school in the United States, he went to Germany through a student exchange program and completed his studies there. He later attended Middlebury College in Vermont, USA, where he received a bachelor’s degree in art.
appearance
Height (approximately): 5′11″
Hair color: white
Eye color: hazel
family
Parents and siblings
His mother, Nancy Hare Koltes, died on September 6, 2013. His father, John Albert Koltes, was a doctor. He died in 2011. Steve Cortez has two sisters, Karen Hal Cortez and Nancy Gilbert Cortez, and a brother, John Albert Cortez .
wife and children
His wife’s name is Corinne. In 1988, he married her in Switzerland and they had a son and a daughter. His son’s name is Troy. His daughter’s name is Kalia.
Profession
In 1980, Steve joined Citigroup as an executive responsible for corporate banking and corporate finance operations in Zurich, London and New York. In 1982, he was appointed managing director of Citi Ventures in London. In 1993, Steve Koltes, Michael Smith, Hardy McLain, Donald Mackenzie, Iain Parham and Rolly Van Rappard reached an agreement with Citigroup to form CVC Capital Partners.
From January 27, 2000 to February 20, 2002, Koltes served as a director of Automotive Sealing Systems Limited. On December 17, 2003, he was appointed as a director of CVC Advisers Limited; his appointment continued until July 20, 2008. In October 2012, Cortes became chairman of CVC Capital Partners, joining Donald Mackenzie and Rolly Van Rappard, replacing Michael Smith . In 2015, CVC Capital Partners acquired British gambling company Sky Betting & Gaming. Under his leadership, CVC Capital Partners acquired a beverage manufacturing company called Starbev, luggage maker Samsonite and the printing systems division of Badische Anilin und Soda Fabrik (BASF). CVC Capitals acquires Formula 1; however, after suffering losses, Formula 1 is sold to John Karl Malone’s Liberty Media for $8 billion.
Photo taken by Steve Cortez at press conference
Steve Koltes has served on the boards of Evonik Industries and Elster Group. In 2021, CVC Capital Partners acquired IPL team Gujarat Titans for Rs. 56 billion rupees. In October 2022, Steve Cortes resigned as chairman of the company. Donald Mackenzie, co-founder of CVC Capital Partners and close friend of Steve Koltes, discussed Steve’s resignation in an interview, saying:
Steve was a symbol of intelligence and determination throughout his years with the company and will be missed by all of us. When he leaves, CVC is a world-leading investment firm with a talented team and ample opportunities for further development. Steve and I have been good friends, business partners, and dealmakers from the earliest days of CVC. I will greatly miss his balance and stewardship of CVC’s culture, and I know everyone at CVC feels the same way. “
Facts/Trivia
- Steve Koltes, Donald Mackenzie and Rolly Van Rappard are also known as the European takeover kings.
- In 2014, Steve Koltes received the William Penn Charter School Alumni Merit Award.
Categories: Biography
Source: HIS Education