Marathon Asset Management
Marathon Asset Management, LP is an investment manager that specializes in the public and private credit markets. Within private credit, Marathon focuses on Asset-Based Lending, Opportunistic Credit, and Direct Lending. Within public credit, Marathon invests in High Yield Bonds, Leveraged Loans, Collateralized Loan Obligations, Emerging Market Debt, and Structured Credit.
| Company type | Private |
|---|---|
| Industry | Hedge fund, distressed securities, investment management |
| Founded | 1998 |
| Founder | Bruce Richards Louis Hanover |
| Headquarters | Bank of America Tower New York City, United States |
Key people | Bruce Richards (CEO) Louis Hanover (CIO) |
| Total assets | $23 billion[1] |
Number of employees | 190+ |
| Website | www.marathonfund.com |
Organization
The firm is headquartered in New York City with investment offices in London, Miami, Los Angeles, and Luxembourg.
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.[2]
Founded in 1998, Marathon manages over $23 billion of capital and has approximately 190 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 founded in January 1998, as Marathon Asset Management, LLC, by managing members Bruce Richards (CEO) and Louis Hanover (CIO). Richards held senior positions at Donaldson Lufkin & Jenrette and Smith Barney. Hanover previously held senior positions at Smith Barney and Merrill Lynch & Co. 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.
As of 2024, the firm has 8 Partners and 190 employees. Within Marathon’s Asset-Based Lending platform, the firm's capabilities include Aviation Finance, Maritime Finance, Equipment Finance, Residential and Commercial Real Estate Lending, Healthcare Lending, and Specialty Finance. As part of the firm’s Opportunistic Credit platform, Marathon originates Capital Solutions and invests in both dislocated or distressed corporate credit.
References
- Approximate figure and can include commitments.
- U.S. Department of the Treasury Archived 2011-01-05 at the Wayback Machine July 8, 2009