Marathon Merges 2 Funds Into $258M Global EM Fund

Feb 24 2014 | 2:00pm ET

New York-based Marathon Asset Management has launched a new fund which merges Steve Kim's Asia Marathon Fund with Gabriel Szpigiel's global emerging markets credit fund.

On and offshore versions of the Marathon Global Emerging Markets Fund were launched in early December 2013 with $258 million, according to regulatory filings.

The investment firm's intention to merge the funds was reported last November by Hedge Fund Intelligence which said Marathon aims to raise $1.5 billion for the new vehicle to be co-managed by Kim, a Marathon partner based in Singapore, and Szpigiel, a partner and senior portfolio manager.

The new fund, which carries a minimum investment of $1 million, will focus on global emerging markets, particularly credit and opportunistic equities.

Marathon Asset Management manages an estimated $11 billion in assets across global credit markets.   

A request to Marathon for further information about the new fund was not answered as of press time.

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