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Marathon closes $1.7bn asset-based lending fund

Global credit investment manager Marathon Asset Management has held the final close of the Marathon Secured Private Strategies Fund III, the third vintage of its closed-end asset-based lending strategy, at $1.7bn.

Global credit investment manager Marathon Asset Management (Marathon) has held the final close of the Marathon Secured Private Strategies Fund III, the third vintage of its closed-end asset-based lending (ABL) strategy, at $1.7bn.

The fund attracted capital commitments from a global base of institutional and high net worth investors.

As traditional lenders have downsized their lending programmes, Marathon says its ABL strategy is designed to create a diversified portfolio through sourcing, underwriting, and structuring private investments that exhibit principal protection, robust asset coverage and predictable cashflows. 

In addition to originating loans, Marathon intends to capitalise on the increase of secondary loan market opportunities, as select undercapitalised financial institutions seek to improve their financial condition through asset sales.
 

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