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Marathon Asset Management

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Marathon Asset Management

Marathon Asset Management
Type Private
Industry Hedge fund, distressed securities, investment management
Founded 1998
Headquarters Bank of America Tower
New York City, United States
Key people Bruce Richards, Louis Hanover, Andrew Rabinowitz
Total assets $10.5 billion[1]
Employees 125
Website www.marathonfund.com

Marathon Asset Management is an investment manager focused on opportunistic investing in credit and fixed income markets globally. Marathon manages a family of investment programs principally focused on credit strategies including hedge funds, managed accounts, single-client funds and collateralized loan, and debt obligation vehicles.

The firm's core competency is distressed and situational investing in the global credit and fixed income markets. Marathon utilizes a research-intensive approach, risk management discipline, and an integrated platform. In addition, the firm has the flexibility to invest across the capital structure, including securities, loans, and structured products.

The firm is headquartered in New York City with investment offices in London and Singapore.[2] 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.[3]

Founded in 1998, Marathon manages over $10 billion of capital.[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 formed in January 1998, as Marathon Asset Management LLC, by managing members Bruce Richards and Louis Hanover who have over 25 years of investment experience in distressed and situational investing. In 2008, Marathon was reorganized as a Delaware limited partnership.

On 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.

Management

The firm is led by Bruce Richards, Louis Hanover, and Andrew Rabinowitz.

Bruce Richards is a Co-Managing Partner and the Chief Executive Officer of Marathon, and is responsible for general oversight of the firm's capital across its funds and managed accounts as well as the firm's operational initiatives and its strategic direction. He has 28 years of experience in principal investing and alternative asset management leadership.

Louis Hanover is a Co-Managing Partner and the Chief Investment Officer of the firm, overseeing Marathon's portfolio managers and their investment activities. He has extensive trading experience and expertise as an asset manager, arbitrageur, and risk manager in both the equity and fixed income markets on a global basis.

Andrew Rabinowitz is a Partner and the Chief Operating Officer. He manages Marathon's day-to-day activities including oversight of the firm's global infrastructure such as operations, treasury, legal, compliance and technology, and assisting on business development. He is a CPA in the State of New York and is currently a member of the Bar in New York and Washington, D.C. He also co-founded the R Baby Foundation which is the first and only not-for-profit foundation focused on saving babies lives through improving pediatric emergency care.[6]

Criticisms

Marathon Asset Management is one of the companies accused of threatening to block the European attempt to save Greece from defaulting unless they are guaranteed a significant payout.[7]

Offices

According to Marathon's website, the firm has three office locations:

References

  1. ^ a b Approximate figure and can include commitments.
  2. ^ Marathon Asset Management Optimistic on Distressed Commercial Real Estate Credit Opportunities. BusinessWire, June 28, 2010
  3. ^ U.S. Department of the Treasury July 8, 2009
  4. ^ Bryant Park Tower Gets LEED Platinum Certification. Inhabitant, August 19, 2010
  5. ^ Marathon Asset Management Takes Corporate Social Responsibility Green. August 26, 2008
  6. ^ R Baby Foundation
  7. ^ Chu, Ben. "Greek rescue blocked by hedge fund greed", The Independent, London, 18 January 2012.

External links

  • Marathon Asset Management
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