Every private equity titan is looking for that game-changing acquisition — the steal of a deal that brings a big impact and high returns to its clients for a relatively small price.
CVC Capital Partners may have similar hopes for its latest deal. But this is not one for its investment portfolio, but for the firm itself. On Monday, the European buyout powerhouse said it would purchase Marathon Asset Management for $1.2bn, plus $400mn in future performance-dependent payments to employees.
This is part of a strategy not just to grow assets, as all private equity firms hope to do, but to build a bigger debt business. CVC made a name for itself as a pioneer in European corporate buyouts. But after going public in 2024, it needs growth to lure mutual fund investors into its stock.