Marathon Asset Management, a $23 billion asset manager, is expanding its private credit team as it looks to position itself for upcoming market turmoil.
The firm is eyeing a $2 trillion opportunity in private lending by offering direct lending to firms backed by private equity. Marathon’s move comes as it joins the rush into private credit ahead of the “refinancing wall.
According to Bloomberg News, Marathon’s expansion into private lending is part of the firm’s strategy to closely partner with sponsors and provide reliable and flexible direct lending solutions to companies.
The firm is excited to amplify its direct lending capabilities and expand its presence in the private credit market.
With the “refinancing wall” looming, more private equity firms are turning to private credit as a way to finance their portfolio companies.
Marathon’s expansion into private lending allows it to offer a competitive alternative to traditional bank financing and position itself as a leader in the private credit market.
Marathon Asset Management Overview
Foundation and Growth
Marathon Asset Management is a New York-based firm that specializes in credit and fixed income investments.
The firm was founded in 1998 by Bruce Richards and Louis Hanover, two former executives from Citibank.
Since its inception, Marathon has grown to become a leading alternative investment manager with over $23 billion in assets under management.
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The firm’s investment strategies focus on distressed and event-driven credit, as well as value-oriented fixed income investments.
Marathon’s approach to investing is based on a disciplined and research-driven process that seeks to identify opportunities in credit markets that are mispriced or misunderstood by other market participants.
Headquarters and Key Personnel
Marathon Asset Management is headquartered in New York City, with additional offices in London and Singapore.
The firm’s key personnel include Bruce Richards, who serves as the firm’s Chief Executive Officer, and Louis Hanover, who serves as the firm’s Chief Investment Officer.
Under Bruce Richards’ leadership, Marathon has expanded its investment offerings to include private credit investments.
The firm’s private credit team provides loans ranging from $25 million to $150 million to primarily private equity-backed companies. Marathon is expanding this team to position itself for upcoming market turmoil and to take advantage of the $2 trillion private credit opportunity.
