Marathon Opens European Distressed Debt Fund

Aug 17 2011 | 9:55am ET

Marathon Asset Management has launched a new European distressed credit fund with $100 million in assets—and the expectation that it will be 10 times as large by the end of the year.

The Marathon European Credit Opportunity Fund debuted on Aug. 2, HFMWeek reports. New York-based Marathon is targeting a first close on Sept. 30, and already has commitments to raise the fund's assets to $500 million by that date. The firm will hold a second close on Nov. 30.

Marathon's decision to launch a dedicated European fund came after investors in its flagship fund—notably several large U.S. and Canadian public pension funds—called for such an option.

"Given the headlines that have been going on surrounding Europe, it's no surprise that there's been interest in this," a source told HFMWeek.

The new fund is Marathon's seventh. All told, the firm manages more than $10 billion.


In Depth

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note