What CVC Capital Partners plc does

CVC Capital Partners plc is a global private markets investment manager founded in 1981 and headquartered in Jersey (listed on Euronext Amsterdam, AEX:CVC following its April 2024 IPO). The firm manages €212bn of assets across seven complementary strategies: Europe/Americas private equity, Asia, Strategic Opportunities, Catalyst (mid-market PE), Secondaries, Credit (CLO liquid credit and private credit), and Infrastructure (CVC DIF), operating through a 30-office global network serving pension funds and other leading institutional investors, with over 150 portfolio companies under PE management.

CVC earns revenue primarily through recurring management fees on Fee-Paying AUM (€148bn FPAUM at end-2025) and performance-related earnings (carried interest) from funds that clear return hurdles; in FY2025 the firm reported €1.5bn of management fees (+9% YoY), €835m of management fee earnings at a 58% MFE margin, €254m of PRE (+39%), and €1.1bn of EBITDA. Distribution is institutional-led via 30 offices, supplemented by a Private Wealth division (CVC-PE, CVC-CRED, CVC-PESEC, CVC-INFRA) for eligible individuals and an Insurance channel institutionalized through the AIG strategic partnership (up to $3.5bn in SMAs and secondaries evergreen commitments).

The firm's recent strategic agenda centers on scaling the multi-strategy platform post-IPO: acquiring Marathon Asset Management (up to $1.2bn) to position CVC Credit at ~€61bn FPAUM, building infrastructure presence in DACH, Iberia, and Italy (EcoEridania, iPark, Celeste, firstcolo), and rotating capital through realizations such as D-Marin to InfraVia and Skroutz to Blackstone. Regulatory authorization spans FCA, SEC, CSSF, JFSC, and MiFIDPRU frameworks, with distribution augmented by CLO issuance series (Apidos in the US, Cordatus in Europe) and continuation vehicle secondaries capabilities.

Name

CVC Capital Partners plc

Legal name

CVC Capital Partners plc

Website

https://cvc.com

Company type

Public

Founded year

1981

Operating status

Operating

Short description

CVC Capital Partners plc is a global private markets investment manager managing approximately €212bn across private equity, credit, secondaries, and infrastructure strategies for pension funds and institutional investors via a 30-office network.

Ownership category

akta.pro rank

Headquarters

HQ city

Saint Helier

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Management Fees: CVC earns management fees based on assets under management. In FY2025, management fees reached €1.5bn, up 9% vs FY2024. Fees are calculated on FPAUM of €148bn as at December 2025. Management fee earnings (MFE) of €835m with an MFE margin of 58%.
2. Performance Related Earnings (PRE) / Carried Interest: CVC earns performance-related earnings from carried interest in funds that meet specified return thresholds. In FY2025, PRE reached €254m, up 39% vs FY2024. The company has approximately €5bn of future carry potential from current funds, with ~€1.8-2.2bn expected to materialize as aggregate PRE over the next four years.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

CVC Capital Partners plc is a global private markets investment manager that raises and manages investment funds across seven complementary strategies: Europe/Americas private equity, Asia private equity, Strategic Opportunities, Catalyst (mid-market private equity), Secondaries, Credit (CLOs and direct lending), and Infrastructure. The firm invests on behalf of pension funds and other institutional investors through committed fund vehicles, and through its Private Wealth division offers eligible individual investors access to CVC-PE, CVC-CRED, CVC-PESEC, and CVC-INFRA products. CVC also provides strategic co-investment, separately managed accounts (SMAs), and limited partner liquidity solutions.

Product overview

CVC Capital Partners plc is a leading global private markets investment manager offering a diversified platform across private equity, credit, infrastructure, and secondaries. The core platform comprises seven complementary strategies: Europe/Americas, Asia, Strategic Opportunities, Catalyst (mid-market PE), Secondaries, Credit (Liquid Credit via CLOs and Private Credit/Direct Lending), and Infrastructure (DIF). Supporting the institutional strategies, CVC Private Wealth extends access to individual investors through CVC-PE, CVC-CRED, CVC-PESEC, and CVC-INFRA products. The Credit platform operates branded CLO series including Apidos (US) and Cordatus (Europe), while CVC DIF manages core and value-add infrastructure funds. The recently announced acquisition of Marathon Asset Management will expand US credit capabilities under the CVC-Marathon brand.

Differentiator

Problem solved

Functional benefit

Brands

• CVC Capital Partners IX: Primary private equity fund for Europe/Americas with €26 billion
• CVC Catalyst
• CVC DIF
• CVC Credit Partners
• CVC Secondary Partners
• CVC Strategic Opportunities

Products and services

• CVC Private Equity (Europe/Americas, Asia, Strategic Opportunities) Flagship private equity fund management services for pension funds and institutional investors, deploying capital across Europe/Americas, Asia, and Strategic Opportunities, managing over 150 portfolio companies worldwide.
• CVC Catalyst Sector agnostic mid-market private equity strategy focused on high-quality European businesses with equity investments below €250m, leveraging CVC's pan-European network of 16 country offices.
• CVC Capital Partners Catalyst III Fund Europe-focused mid-market private equity fund (vintage of the CVC Catalyst strategy) that raised approximately €3.0bn at final close, nearly double its €1.75bn target.
• CVC Credit Partners Global credit management platform managing approximately €45-51bn in assets across liquid credit (CLOs) and private credit/direct lending strategies for institutional clients.
• Apidos CLO Series CVC Credit's US Collateralized Loan Obligation vehicle series, issuing $550m new-issue CLOs such as Apidos LVI, LVII, LVIII during 2025-2026.
• Cordatus CLO Series CVC Credit's European Collateralized Loan Obligation vehicle series, issuing €400m new-issue CLOs such as Cordatus XXXVI and XXXVII during 2025.
• CVC CLO Equity IV Fund Dedicated CLO equity vehicle making equity investments in CVC-managed CLOs; CLO Equity IV raised $1bn and is expected to support approximately $15bn of global CLO issuance.
• CVC Secondary Partners Private equity secondaries strategy providing liquidity solutions for limited partners and co-investment opportunities across fund restructurings, GP-led continuation vehicles, and portfolio transactions.
• CVC DIF (Infrastructure) Infrastructure investment strategy managing approximately €23bn across core and value-add infrastructure funds, investing in digital, energy transition, transport, and healthcare sectors.
• CVC Private Wealth Suite of products offering eligible individual investors access to CVC's private equity and credit strategies through CVC-PE, CVC-CRED, CVC-PESEC, and CVC-INFRA products via wealth advisors.
• CVC-Marathon (Marathon Asset Management) US credit manager to be rebranded CVC-Marathon post-acquisition, with market-leading positions in Asset-Based, Real Estate, Opportunistic, and Public Credit, expanding CVC Credit's FPAUM to approximately €61bn combined.

Quantifiable outcome

• €21.9bn record realisations at 3.2x MOIC and 23% IRR in 2025
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered minor and core.

• Northleaf Capital PartnersminorStrategic or Co-development Partner · 5 February 2026Joint venture partners (CVC DIF 49%, Northleaf 49%, Landmark 2%) in Vault Digital Infrastructure, a US data center portfolio sold to Igneo Infrastructure Partners. Demonstrates CVC DIF and Northleaf's ability to deliver value creation and timely exits.
• Marathon Asset ManagementcoreStrategic or Co-development Partner · 26 January 2026CVC agreed to acquire 100% of Marathon Asset Management in a cash and equity transaction valued at up to $1.2 billion. Marathon is a leading US credit manager with market-leading positions in Asset-Based, Real Estate, Opportunistic and Public Credit. Following completion, CVC-Marathon will increase CVC Credit's FPAUM to approximately €61 billion, creating a world-class multi-asset global credit manager. Bruce Richards and Lou Hanover will co-head Marathon credit strategies and Bruce Richards will join CVC's Partner Board.
• AIG (American International Group)coreStrategic or Co-development Partner · 19 January 2026Strategic partnership includes establishment of private equity secondaries evergreen platform with AIG as cornerstone investor contributing up to $1.5 billion. Also includes up to $2 billion in separately managed accounts (SMAs) across CVC credit strategies. The partnership supports AIG's long-term investment objectives and reflects shared ambition to build long-term relationship focused on scale, alignment and bespoke solutions for global Institutional and Private Wealth investors.

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Brookfield Asset Management: Brookfield is the world's largest infrastructure investor and broader alternatives manager with credit, PE and renewables platforms. The infrastructure franchise directly compares to CVC DIF, though Brookfield is significantly broader and larger across alternatives.

Direct peers

• TPG Inc. TPG is a publicly listed alternatives manager with PE, credit and impact strategies serving similar institutional and private wealth clients. TPG is a relevant direct peer for benchmarking CVC's public-market valuation and strategy mix.
• KKR & Co. Inc. KKR is a global alternatives manager offering private equity, credit, and infrastructure strategies via institutional and private wealth channels. KKR's multi-strategy platform, scale and mix of management and performance fees make it the closest direct peer to CVC Capital Partners.
• Ares Management Corporation: Ares is a credit-focused alternatives manager with a large US CLO and direct lending franchise plus growing infrastructure and insurance solutions. Ares is the closest direct peer to CVC Credit / CLO business and a comp for the post-Marathon combined credit platform.
• Apollo Global Management: Apollo is a global alternatives manager with a credit-heavy mix plus PE and real assets, listed publicly with similar mix of management and performance-linked earnings. Closely comparable to CVC's PE + Credit-led platform, especially ahead of the Marathon combination.
• Blackstone Inc. Blackstone is the world's largest alternatives manager with PE, credit, secondaries and infrastructure products serving institutional and private wealth clients. Its scale, strategy mix and distribution model are directly comparable to CVC's seven-strategy platform.
• Lexington Partners: Lexington is a leading dedicated private equity secondaries sponsor with multi-asset continuation vehicles and GP-led deals. CVC Secondary Partners is directly comparable in product mix and recent GP-led award wins, making Lexington a focused secondaries peer.
• EQT AB: EQT is a European-headquartered alternatives manager with PE, infrastructure and credit strategies serving similar institutional and private wealth channels. EQT is one of the closest listed comparables for CVC's Europe-led flagship and Catalyst strategies.
• Bain Capital: Bain Capital is a global alternatives manager offering PE, credit, infrastructure and secondaries strategies via institutional LPs. Bain's mid-market focus directly competes with CVC Catalyst and its scale competes with the flagship CVC platform.
• The Carlyle Group: Carlyle is a publicly listed global alternatives manager with PE, credit, infrastructure and secondaries comparable in scale and structure to CVC. Carlyle's listed equity valuation is one of the cleanest direct trading comps for CVC.

Market position

Strengths6 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubevimeo.com/cvc
• LinkedInlinkedin.com/company/9308253

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CVC Capital Partners plc