Sidley Advises Marathon Asset Management on its up to US$1.6 Billion Sale to CVC

Sidley represented Marathon Asset Management, a leading global credit manager, in its up to US$1.6 billion (US$1.2 billion in upfront consideration and up to US$400 million in contingent deferred consideration) sale to CVC, one of the world’s leading private markets investment firms. Upon completion, Marathon will combine with CVC Credit, significantly expanding CVC’s presence in the U.S. credit market in particular in asset-based, real estate, opportunistic, and public credit.

This transaction highlights Sidley’s global footprint and multi-disciplinary strength as the transaction involved close collaboration among multiple offices including New York and London, and showcased our depth of experience in M&A, GP Stakes, Investment Funds, Tax, Litigation, Regulatory, Finance, and Employee Benefits and Executive Compensation.

The Sidley team was led by Andrew Colosimo, Patrick Greeley, and Ryan McNagny (M&A and Private Equity); David Form (Investment Funds); and Christian Brause (Tax), and included John K. Neal Jr., Angela Chow, and Margalit Y. Zimand (M&A and Private Equity); Nathan J. Greene, Bernie Zamichow, and Delia Wu (Investment Funds); Ivy H. Jones, Robert M. Kreitman, Jason Menzies, Avi Kaye, Andy J. Lau, Alvin Wang, and Iris Wang (Tax); Laura Collins, Patrick J. Harrison, Miriam Carroll Silvestri, and Anna Kubinska (Antitrust and Competition); Leonard Ng and Arash Dashtgard (Banking, Payments and Fintech); Eric S. Wolf and Amanda M. Casanueva (Employee Benefits and Executive Compensation); Sven De Knop and Maryanne W. Kamau (Global Arbitration, Trade and Advocacy); Ash Nagdev and Ben Cross (Privacy and Cybersecurity); Rebecca Stuart (Labor, Employment and Immigration); Nicholas P. Crowell (Securities and Shareholder Litigation); James R. Horner (Commercial Litigation and Disputes); and Mordy Neuman (Global Finance).