Big 12 exploring $1 billion private equity investment, per report

, conferences have been looking for a way to raise more money, and using private equity investment has been one possible course of action.

CVC Capital Partners, an investment fund based in Luxembourg, is the firm that would take part in the reported deal. The fund manages $200 billion in investments across the world, its website states. It is unknown exactly how far along such discussions are, but the talks are "pretty serious," according to the report, which adds that other decision-makers in the Big 12 need "further convincing."

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