{"url_path":"/sec/cik-0002096330/10-q/2026/item-1a","section_key":"item-1a","section_title":"Item 1A Risk Factors","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/2096330/0001193125-26-223103-index.html","accession_number":"0001193125-26-223103","cik":"0002096330","ticker":null,"issuer_name":"CVC-PE Global Private Equity Fund, LP","edgar_url":"https://www.sec.gov/Archives/edgar/data/2096330/0001193125-26-223103-index.html","primary_entity_key":"0002096330","primary_entity_name":"CVC-PE Global Private Equity Fund, LP"},"word_count":1405,"has_tables":true,"body_markdown":"Item 1A. Risk Factors\n\nIn addition to the other information set forth within this Quarterly Report on Form 10-Q, consideration should be given to the information disclosed in “Item 1A. Risk Factors” in the Form 10 filed with the SEC on February 18, 2026. Unitholders should specifically consider the following material risks, which update certain information contained in the Form 10. The occurrence of any of the following risks might have a material adverse effect on our business and financial condition. The risks and uncertainties discussed below are not the only ones we face but do represent updates to certain risks and uncertainties that we believe are most significant to our business, operating results, financial condition, prospects and forward-looking statements. In any such case, the NAV of our Units could decline and Unitholders may lose all or part of their investment. While we attempt to mitigate known risks to the extent we believe to be practicable and reasonable, we can provide no assurance, and we make no representation, that our mitigation efforts will be successful.\n\nGeopolitical Conflicts and Risk\n\nGeopolitical events, including, without limitation, national referenda, political elections, international violent and non-violent conflicts, political movements and reactions to national and international emergencies, can affect monetary policy, fiscal policy, international relations, currency valuations, legal systems and regulatory regimes, among numerous other things, in ways that could impact CVC-PEF and/or its ability to operate and/or pursue its investment strategy. As economies and financial markets worldwide become increasingly interconnected, the likelihood increases that geopolitical conflicts in one country or region will adversely impact markets or issuers in other countries or regions, including in ways that are difficult to predict or foresee. The impacts of these conflicts or events can be exacerbated by failures of governments and societies to respond adequately to a geopolitical conflict and subsequent emerging events or threats.\n\nFor example, local or regional armed conflicts have led to significant sanctions by the U.S., EU, and other countries against certain countries and persons and companies connected with certain countries, including ongoing armed conflict in Ukraine and Iran and escalating conflicts in other parts of the Middle East. Such armed conflicts and sanctions and other local or regional developments can exacerbate global supply and pricing issues, particularly those related to oil and gas, and result in other adverse developments and circumstances, as well as increased general uncertainty, for markets, economies, issuers, businesses, and societies both globally and in specific jurisdictions. Although these types of conflicts have occurred and could also occur in the future, it is difficult to predict when similar conflicts affecting the U.S. or global financial markets and economies will occur, the effects of such events or conditions, potential retaliations in response to sanctions or similar actions, and the duration or ultimate impact of those conflicts. Any such conflicts could have a significant adverse impact on the operations, risk profile, and value of CVC-PEF and its portfolio companies, with or without direct exposure to the specific geographies, markets, countries or persons involved in an armed conflict or subject to sanctions. Ongoing conflicts and the measures taken in response have had and could be expected to continue to have a negative impact on the economy and business activity globally (including in the countries in which CVC-PEF invests), and therefore could adversely affect the performance of CVC-PEF’s investments. The severity and duration of the conflict and its future impact on global economic and market conditions (including, for example, oil prices) are impossible to predict, and as a result, present material uncertainty and risk with respect to CVC-PEF, the performance of CVC-PEF’s investments, portfolio company operations, and the ability of CVC-PEF to achieve its investment objectives. Similar risks exist to the extent that any portfolio companies, service providers and vendors of CVC, CVC-PEF and any portfolio companies, or certain other parties have material operations or assets in the countries where such conflicts are taking place or in the immediate surrounding areas. Other geopolitical conflicts could arise in the future and such conflicts could have material adverse consequences on CVC, CVC-PEF and its portfolio companies.\n\n16\n\n[Table of Contents](#toc_page)\n\n \n\nFurthermore, if after subscribing to CVC-PEF, any investor or any beneficial owner thereof is included on a list of prohibited entities and individuals maintained by a relevant regulatory and/or government entity, including the U.S. Department of the Treasury’s Office of Foreign Assets Control, or under similar E.U., U.K. or Cayman Islands regulations or under other applicable law, or are operationally based or domiciled in a country or territory in relation to which current sanctions have been issued by the U.S., United Nations, E.U., U.K., Luxembourg, the Cayman Islands and/or other applicable jurisdictions, CVC-PEF would likely be required to cease any further dealings with such investor or freeze any dealings with the interests or accounts of the investor (e.g., by prohibiting payments by or to the investor or restricting or suspending dealings with the interests or accounts) or freeze the assets of CVC-PEF until such sanctions are lifted or a license is sought under applicable law to continue dealings. CVC-PEF could further have to report to the relevant competent authorities the implementation of any restrictive measures carried out pursuant to international financial sanctions. For the avoidance of doubt, CVC has the sole discretion to determine the remedy if an investor is included on a sanctions list and is under no obligation to seek a license or any other relief to continue dealing with such investor. Although CVC expends significant effort and resources to comply with the sanctions regimes in the countries where it operates, one of these rules could be violated by CVC’s or CVC-PEF’s activities or investors, which would adversely affect CVC-PEF.\n\nThere can be no assurances that political and regulatory conditions will not worsen and/or adversely affect CVC-PEF, its investments, or their respective financial performance.\n\nTrade Policy Uncertainty\n\nIn recent years, political leaders in the U.S. and certain European nations have been elected on protectionist platforms, fueling doubts about the future of global free trade. For example, the U.S. government has indicated its intent to alter its approach to international trade policy and in some cases to renegotiate, or potentially terminate, certain existing bilateral or multi-lateral trade agreements and treaties with non-U.S. countries. For example, the U.S. government previously imposed, and it is possible in the future will further increase, tariffs on certain non-U.S. goods, including steel and aluminum, and has indicated a willingness to impose tariffs on imports of other products. Some non-U.S. governments, including China, have instituted retaliatory tariffs on certain U.S. goods and have indicated a willingness to impose additional tariffs on U.S. products. Governments of other countries have introduced, or may in the future introduce, protectionist and other similar trade policies that could adversely affect free trade.\n\nIn addition, a continued trade dispute between the U.S. and China would be an ongoing source of instability, potentially resulting in significant currency fluctuations and/or have other adverse effects on international markets, international trade agreements and/or other existing cross-border cooperation arrangements (whether economic, tax, fiscal, legal, regulatory or otherwise), which could present similar and/or additional potential risks and consequences for CVC-PEF and its Investments. While this dispute has already had negative economic consequences on the U.S. markets, if trade related issues persist, including as a result of geopolitical tensions, there could be additional significant impacts on the industries in which CVC-PEF participates, the jurisdiction of CVC-PEF’s portfolio companies and/or other adverse impacts on CVC-PEF and its Investments. In addition, trade disputes may develop between other countries, which may have similar or more pronounced risks and consequences for CVC-PEF or its Investments.\n\nThere is uncertainty as to the actions that will be taken under the Trump administration with respect to U.S. trade policy, and while the Investment Adviser and CVC-PEF intend to comply with applicable laws, rapid changes in laws and/or uncertain interpretation and implementation thereof, could affect CVC-PEF’s capacity to comply. New trade policy could also create a legal burden for and negatively impact CVC-PEF and its Investments, including by increasing costs and requiring CVC-PEF to exit certain investments. Further governmental actions related to the imposition of tariffs or other trade barriers or changes to international trade agreements or policies could further increase costs, decrease margins, reduce the value of CVC-PEF’s investments and adversely affect the income of properties that rely on the business of importing of goods into, and the exporting of goods out of, the United States."}