CVC to Buy US Credit Manager Marathon in $1.2 Billion Deal (2)

CVC Capital Partners Plc agreed to buy Marathon Asset Management as part of efforts to widen its footprint in US credit markets, the latest example of consolidation among alternative investment firms.

Amsterdam-listed CVC will buy Marathon in a cash and equity transaction with a base consideration valued at as much as $1.2 billion, comprising $400 million in cash and as much as $800 million in CVC equity, according to a statement Monday. The deal also includes earnout consideration linked to Marathon’s future financial performance over 2027 to 2029, of up to $200 million in cash and $200 million in CVC ...