Private equity firm CVC settles sexism lawsuit

(Reuters) — CVC Capital Partners Ltd. has settled a lawsuit by a former managing director who said the big private equity firm unfairly favored male employees, and fired her after she objected to "systemic" gender bias there.

According to CVC's website, terms of the settlement with the plaintiff Lisa Lee are confidential, but included no admission of wrongdoing.

In a joint statement, both sides said CVC will consult with Lee on diversity matters, including improving opportunities for women.

"Both parties believe that the private equity industry benefits from the diversity of its talent and that continuing to recruit and develop a diverse pool is an important goal," the statement said.

Ms. Lee, who worked for CVC in New York, said she had been the only woman among 37 managing directors and senior managing directors in CVC's private equity divisions before her firing in February 2015, after nearly 5-1/2 years at the firm.

The Harvard Business School graduate said CVC tried to give male colleagues her accounts when she took maternity leave, and denied her promotions available to men.

She also claimed to have faced unwanted physical contact and denigrating comments from male supervisors.

Ms. Lee is now a managing director at Providence Equity Partners, also in New York.

A lawyer for CVC confirmed that the case has been dismissed.

CVC said it has received more than $85 billion of capital commitments, and controls or invests in dozens of entities including BJ's Wholesale Club and Formula One.