CVC to Acquire Marathon Asset Management for up to $1.2B

CVC has agreed to acquire 100% of Marathon Asset Management in a cash and equity transaction with base consideration valued at up to $1.2 billion. The deal expands CVC’s access to the US credit market through Marathon’s positions across Asset-Based, Real Estate, Opportunistic and Public Credit.

CVC says Marathon’s capabilities are complementary to its Liquid Credit platform, where it is the #1 European CLO manager, and its European Direct Lending platform. After completion, CVC Credit and Marathon are expected to increase CVC Credit’s fee-paying assets under management to approximately €61 billion, creating a multi-asset global credit manager spanning private and public credit.