Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Summary of the Valuation of Investments

The following table summarizes the valuation of CVC-PEF's investments held at fair value by the fair value hierarchy levels as of June 30, 2026:


	June 30, 2026
	Level I				Level II				Level III				NAV				Total
Assets
Cash and Cash Equivalents
Money Market Funds	$	5,928			$	—			$	—			$	—			$	5,928
Total Cash and Cash Equivalents(1)		5,928				—				—				—				5,928
Investments
Direct Investments		—				—				104,819				—				104,819
Secondary Investments		—				—				29,135				57,545				86,680
Liquid Investments		—				—				—				2,825				2,825
Total Investments		—				—				133,954				60,370				194,324
Derivative Assets
Foreign Currency Forward Contracts		—				1,266				—				—				1,266
Total Derivative Assets		—				1,266				—				—				1,266
Total Assets	$	5,928			$	1,266			$	133,954			$	60,370			$	201,518
Liabilities
Derivative Liabilities
Foreign Currency Forward Contracts	$	—			$	52			$	—			$	—			$	52

(1)

Cash held at banks of $5.0 million is carried at cost, which approximates fair value, and is therefore not included in the fair value hierarchy.

Summary of Quantitative Inputs and Assumptions Used for Valuation of Investment Categorized in Level 3 of the Fair Value Hierarchy

The following table summarizes the quantitative inputs and assumptions used for valuation of investment categorized in Level III of the fair value hierarchy as of June 30, 2026:

           
          Fair Value

          Valuation Techniques

          Unobservable Inputs

          Ranges

          Weighted-Average

          Impact to Valuation from an Increase in Input

          Investments

Direct Investments

$

104,819

Market Approach

EBITDA Multiple

10.2x - 21.4x

15.6x

Higher

Secondary Investments

26,293

Market Approach

EBITDA Multiple

10.3x - 21.9x

16.7x

Higher

2,842

Discounted Cash Flows

Discount Rate

12.8%

12.8%

Lower

Total Investments

$

133,954

Schedule of Changes in the Fair Value of Investments for which Level III Inputs Were Used

The following tables presents changes in the fair value of investments for which Level III inputs were used to determine the fair value:


	Level III Financial Assets at Fair Value
	Three Months Ended June 30, 2026
	Direct Investments				Secondary Investments				Total
Balance, Beginning of Period	$	—			$	—			$	—
Purchases		87,025				25,883				112,908
Net Change in Unrealized Appreciation (Depreciation)		17,794				3,252				21,046
Balance, End of Period	$	104,819			$	29,135			$	133,954
Net Change in Unrealized Appreciation (Depreciation) Included in Earnings Related to Financial Assets Still Held at the Reporting Date(1)	$	17,794			$	3,252			$	21,046

(1)

Included in Net Change in Unrealized Appreciation (Depreciation) on Investments in the Consolidated Statements of Operations.

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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