Marathon Asset Management
TypePrivate
IndustryHedge fund, distressed securities, investment management
Founded1998
FounderBruce Richards
Louis Hanover
HeadquartersBank of America Tower
New York City, United States
Key people
Bruce Richards (CEO)
Louis Hanover (CIO)
Total assets$100 billion[1]
Number of employees
150
Websitewww.marathonfund.com

Marathon Asset Management, LP is an investment manager focused on opportunistic investing in credit and fixed income markets globally. Marathon manages a family of investment programs principally focused on credit strategies including hedge funds, managed accounts, single-client funds and collateralized loan, and debt obligation vehicles.

Organisation

The firm is headquartered in New York City with investment offices in London and Singapore.[2] Marathon is one of eight firms selected by the U.S. Department of the Treasury to manage the Legacy Securities Public Private Investment Program ("PPIP") Fund.[3]

Founded in 1998, Marathon manages approximately $100 billion of capital and has approximately 150 employees.[1] The firm is registered with the U.S. Securities and Exchange Commission (SEC) as an investment adviser under the Investment Advisers Act of 1940. In addition, Marathon is a member of the National Futures Association ("NFA") and is registered with the Commodity Futures Trading Commission ("CFTC") in the U.S., the Financial Services Authority ("FSA") in the UK, and is notice filed as an exempted fund manager with Monetary Authority of Singapore ("MAS") in Singapore.

History

Marathon was formed in January 1998, as Marathon Asset Management, LLC, by managing members Bruce Richards and Louis Hanover who have over 25 years of investment experience in distressed and situational investing. In 2008, Marathon was reorganized as a Delaware limited partnership.

In August 2008, the firm relocated its headquarters to One Bryant Park, the world's most environmentally responsible high-rise office building and the first building of its size to achieve a top ranked Platinum Leadership in Energy and Environmental Design (LEED) certification from U.S. Green Building Council (USGBC).[4][5]

On July 8, 2009, Marathon was selected by the U.S. Department of the Treasury to serve as one of eight firms to manage the Legacy Securities Public Private Investment Program (PPIP) Fund.[6]

Marathon Asset Management was one of the companies accused of threatening to block the European attempt to save Greece from defaulting unless they are guaranteed a significant payout.[7]

In June 2016, Blackstone Strategic Capital Holdings, part of The Blackstone Group, acquired a minority interest in Marathon Asset Management, LP.[8]

References

  1. 1 2 Approximate figure and can include commitments.
  2. ↑ Marathon Asset Management Optimistic on Distressed Commercial Real Estate Credit Opportunities. BusinessWire, June 28, 2010
  3. ↑ U.S. Department of the Treasury Archived 2011-01-05 at the Wayback Machine July 8, 2009
  4. ↑ Bryant Park Tower Gets LEED Platinum Certification. Inhabitant, August 19, 2010
  5. ↑ Marathon Asset Management Takes Corporate Social Responsibility Green. August 26, 2008
  6. ↑ Khan, Shehab (August 29, 2016). "Brexit: Major US hedge fund bets on banking jobs going to Europe". The Independent. Retrieved 18 February 2018.
  7. ↑ Chu, Ben. "Greek rescue blocked by hedge fund greed", The Independent, London, 18 January 2012.
  8. ↑ Dieterich, Chris (June 22, 2016). "Blackstone Takes Minority Stake In Distressed-Debt Specialist Marathon Asset Management". Barrons. Retrieved 18 February 2018.
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