January 27th, 2026
CVC Capital Partners took a decisive step to scale its credit platform with a $1.2B cash-and-equity agreement to acquire Marathon Asset Management, a move that further sharpens the firm’s push into global credit fundraising. The deal will combine Marathon’s US-based private and public credit capabilities with CVC Credit, lifting the platform’s fee-paying AUM to roughly €61B and supporting CVC’s longer-term goal of reaching €200B in FPAUM by 2028. The deal underscores GPs’ continued emphasis on platform breadth and credit capabilities as fundraising differentiators.
That platform expansion played out alongside steady LP activity across private markets. Sacramento County Employees’ Retirement System weighed whether to formalize affordable housing exposure within its real estate allocation, stopping short of any immediate target changes but highlighting ongoing allocator scrutiny of risk, leverage, and investable universe considerations. Elsewhere, Louisiana State Employees’ Retirement System approved a $100M commitment to Warburg Pincus Global Growth 15, while Boston Retirement completed $50M in value-add real estate commitments across TA Realty and Artemis.
Search and mandate activity also remained active. Indiana Public Retirement System issued an RFP for a $2.1B stable value mandate within its defined contribution plan, while Chicago’s LABF approved $20M in follow-on commitments to Brightwood Capital and HarbourVest.
On the GP fundraising front, Leonard Green & Partners closed its inaugural GP-led continuation fund with more than $3.6B in commitments, well above target, while Kotak Investment Advisors is tracking toward a $2B close for its latest strategic situations vehicle. In private credit, Franklin Templeton continued integrating Alcentra into its Benefit Street platform as it explores expansion in Asia and the Middle East.
Read on for all the day’s fundraising news headlines.
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