Marathon Asset Management, a global credit investment manager, has announced the final closing of its third Marathon Secured Private Strategies Fund III.
The New York-based investment firm, which manages over $20bn of capital, raised $1.7bn from a worldwide pool of institutional and wealthy private investors, with the fund surpassing its initial target.
As traditional financial institutions scale back their lending operations, Marathon has strategically positioned its asset-based lending (ABL) approach to generate promising returns for its clients. The firm’s method focuses on establishing a diversified portfolio of attractive private investments that provide solid asset protection, reliable cash flow, and principal protection.
Marathon chairman and CEO Bruce Richards said: “ABL has become a core component within private credit portfolios, and our Marathon Secured Private Strategies program provides a differentiated strategy that we believe will continue to deliver attractive absolute returns throughout credit cycles.
“It’s the Golden Era of Credit, and the talented men and women who represent our extraordinary team are energised to think creatively, work diligently, and invest wisely on behalf of our limited partners.”
Beyond just loan origination, Marathon plans to leverage the rising number of secondary loan market opportunities. This is in response to some financially strained financial institutions looking to enhance their financial health via asset sales.
The investment firm is adept at identifying these opportunities due to its team of integrated investment professionals with diverse sector expertise and the experience of managing funds through various credit cycles.
The team’s expertise spans several sectors, including residential whole loans, commercial real estate lending, aviation leasing, maritime finance, intramodal transportation assets, healthcare and royalty finance, auto and consumer finance, equipment finance, and corporate ABL.
Marathon partner and ABL programme co-portfolio manager Ed Cong said: “It’s an exciting time for asset-based lending as investments can be sourced in a variety of forms, including primary origination, capital relief transactions and discounted asset sales.
“Our team is laser-focused on delivering for clients and serving as a collaborative partner to borrowers, while maintaining appropriate covenants and advance rates, full transparency and best reporting practices.”
