Marathon Asset Management Closes $400 Million New Issue Collateralized Loan Obligation

Bryant Park Funding 2023-19 Ltd. is the first new CLO executed by Marathon’s Performing Credit platform in 2023 and the first CLO under the firm’s Bryant Park Funding shelf

NEW YORK--(BUSINESS WIRE)--Marathon Asset Management LP (“Marathon”) is pleased to announce the closing of Bryant Park Funding 2023-19 Ltd., a $400mm new issue Collateralized Loan Obligation (“CLO”). This is the first new CLO executed by Marathon’s global Performing Credit platform in 2023, as well as the first under the firm’s Bryant Park Funding shelf. Marathon’s Bryant Park Funding CLO program focuses on high-quality, liquid, broadly syndicated senior secured loans with an emphasis on capital preservation, lower volatility, and structural durability.

Karen Lau, Managing Director and Senior Portfolio Manager for Marathon’s CLO Strategy on Bryant Park 2023-19, said, “I am thrilled to have closed our first Bryant Park Funding transaction. This is a conservatively positioned portfolio, resulting from Marathon’s time-tested fundamental credit research process and disciplined portfolio construction guidelines to identify strong credits within the senior secured loan universe.”

“We are excited to have priced Bryant Park Funding 2023-19 at very attractive levels and with broad interest from the CLO investor community,” added Jonathon Siatkowski, Managing Director and Head of CLO Capital Markets. “We welcome the newest investors to our CLO Strategy, including large, well-respected pension funds, sophisticated asset managers, and strongly capitalized banking institutions. We also thank long-standing partners within Marathon’s global network for their continued support. Marathon continues to view the new issue CLO market as offering strong value to investors across the capital structure.”

About Marathon Asset Management:

Marathon Asset Management, L.P. is a New York-based global investment advisor with over $20 billion of capital under management as of June 30, 2022. The firm was founded in 1998 by Bruce Richards and Louis Hanover and employs more than 170 professionals globally. The firm seeks attractive absolute returns through investments in the global capital markets and the private credit markets where it is known for its ability to provide capital solutions to companies across industries. Marathon has significant experience investing in companies through multiple cycles. Marathon possesses a unique, broad-based skill set and proprietary platform to research, analyze, and act on complex capital structures and situations. Marathon's corporate headquarters are in New York City, with offices in London, Tokyo, Luxembourg, Miami and Los Angeles. Marathon is a Registered Investment Adviser with the Securities and Exchange Commission.

Please visit the company's website at marathonfund.com.