(Bloomberg) -- CVC Capital Partners has talked to banks as it explores options including a sale of Universidad Alfonso X El Sabio, a Spanish private university, according to people familiar with the matter.

The private equity firm could seek a valuation of as much as €2 billion ($2.2 billion) for the school if it goes ahead with a sale, the people said, asking not to be identified discussing confidential information. The discussions were at an early stage and there’s no assurance CVC will pursue a transaction, they said. 

A spokesperson for CVC declined to comment. 

CVC invested in UAX, as the university is known, in 2019 to fund the school’s expansion in Spain and internationally, both on campus and online. The university is known for its health training encompassing three health-care centers, a veterinary hospital and a virtual simulation hospital.

UAX offers a variety of degree, postgraduate and master programs, with a focus on educating corporate professionals.

Private equity firms are looking to cash out of more assets this year after a prolonged period of inactivity. Besides the typical listing and sale routes, buyout shops are also increasingly exploring exits via continuation funds — which allow them to transfer assets to a new vehicle.

CVC is seeking a continuation fund for another of its university investments. It’s working on a single-asset vehicle for university group Multiversity, the people said. CVC initially invested in the Italian business in 2019 before acquiring all of it two years later. 

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