In February 2019, CVC Capital Partners, the global private equity giant, made a low-key announcement that it was offloading a Japanese care provider called Hitowa Holdings to Polaris Capital. Given the scale of the CVC balance sheet, the $500 million sale of Hitowa, which provides housekeeping and nursing services to rehab centres, was relatively modest. After all, from its base in Luxembourg, CVC has $79.6 billion of assets under management and $135.8 billion of funds committed. The deal barely made a ripple in Ireland. Why would it have? Yes, CVC Capital is well known primarily in Ireland for its sizable…

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