CVC Capital Partners is closing in on two deals which, if successful, could allow the private equity firm to pass an important milestone that would allow it to begin deploying capital from its new €10 billion-plus mega fund.

The London-based firm said in a statement today that it has agreed to buy UK home appliance insurer Domestic & General Group, alongside the company's management, from global buyout peer Advent International, which took the company private from the London Stock Exchange in 2007.