CVC Capital Partners reported a modest increase in fee-paying assets under management in the first quarter, supported by steady fundraising and investment activity across its diversified alternatives platform, according to a report by the Wall Street Journal.
The Amsterdam-listed firm ended the quarter with €150.7bn in fee-paying AUM (approximately $176.5bn), up from €148.3bn in the prior period. Growth was driven by €4.2bn in gross inflows, partially offset by €2.4bn in investor exits over the quarter.
The update highlights the firm’s ongoing shift toward a broader alternatives platform, with non-private equity strategies—including credit, secondaries and infrastructure—now accounting for slightly more than half of total client assets.
CVC Capital Partners has previously guided for fee-paying AUM to expand at more than 10% annually, targeting approximately €200bn by 2028. This outlook excludes the planned acquisition of Marathon Asset Management, a New York-based private credit specialist, which remains on track to close in the third quarter.
During the quarter, the firm deployed €3.5bn across its strategies, with roughly half allocated to credit investments. Realisations totalled €5bn, predominantly from private equity exits, reflecting continued portfolio monetisation alongside ongoing capital deployment.
The results underscore the increasing importance of credit and other non-buyout strategies in CVC’s business mix, as large alternative asset managers continue to expand beyond traditional private equity into more stable, fee-generating asset classes.
