Marathon Asset Management, L.P. (New York)

Name: Marathon Asset Management, L.P.
Address: One Bryant Park, New York, NY, 10036
Telephone: 212-500-3000

Marathon Asset Management, L.P. is a large advisory firm based in New York. It manages $19.13 billion of regulatory assets for 105 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdiction of New York.

Marathon Asset Management provides portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Marathon Asset Management: assets under management

The assets under management (AUM) of Marathon Asset Management, L.P. is $19.13 billion. The firm's AUM has grown by 82% since the beginning of its operation, and $13.29 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $18.69 billion in discretionary accounts and $441.1 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $185.03 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $110.27 million.

Marathon Asset Management has custody of $6.57 billion in cash and securities for 45 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 38% of the total AUM. The second-largest asset type is non-investment grade corporate bonds, which make up 35% of the firm’s portfolio. Investments in pooled investment vehicles form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Marathon Asset Management, L.P. for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Marathon Asset Management serves?

The firm provides services to insurance companies, investment companies, other investment advisers, pooled investment vehicles, and state or municipal government entities. The largest group of clients of Marathon Asset Management is pooled investment vehicles with 92 clients and $16.51 billion of assets under management. Among the 11 most similar advisory firms, Marathon Asset Management has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $19.13 billion for 105 clients. 58% of the firm’s clients are foreign persons or businesses.

Marathon Asset Management also advises several private funds. Namely, forty five hedge funds, one real estate fund, one other private fund, and sixteen securitized asset funds. The minimum investment commitment required of non-related persons ranges from $0 to $400,000,000.

Careers at Marathon Asset Management, L.P.

The company employs 153 people that are either part- or full-time employees. 55 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Louis Todd Hanover has served as the Chief Investment Officer since 1 Jan 1998. Bruce Jeffrey Richards joined the executive team most recently as the Managing Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Bruce Jeffrey Richards	President, ceo	1 Jan 1998	25% - 50%	1268078
Louis Todd Hanover	Chief investment officer	1 Jan 1998	25% - 50%	1959888
Andrew Rabinowitz	Partner, chief operating officer	1 Jan 2002	Other	4628476
Gregory Lee Florio	Chief compliance officer	1 Aug 2006	Other	4126029
L.L.C. Marathon Asset Management Gp	General partner	1 Aug 2008	Other	26-3355961
Richard Keith Ronzetti	Partner, global head of research	1 Jan 2009	Other	1543483
Jon Halpern	Partner, global head of real estate	1 Jan 2009	Other	5656833
James Michael Leahy	Chief financial officer	1 Feb 2009	Other	5647281
Christine Chartouni	Chief compliance officer	1 Sep 2010	Other	5850707
Scot Matthew Pasquale	Chief financial officer	1 May 2013	Other	6212480
Bsch Master I Sub (Mar Mgr) L.P.	Limited partner	1 Jun 2016	Other	46-4629101

Indirect Owners

The SEC currently registers 10 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Alaska Permanent Fund Corporation	Limited partner	1 Dec 2013	25% - 50%	92-6001185
Bsch A Intermediate L.P.	Limited partner	1 Jan 2014	50% - 75%	46-4620182
Blackstone Strategic Capital Holdings L.P.	Limited partner	1 Jan 2014	25% - 50%	80-0956089
Blackstone Strategic Capital Associates L.L.C.	General partner	1 Mar 2015	Other	90-1022649
Bsch Master I L.P.	Limited partner	1 Mar 2015	75% - 100%	46-4629101
Bsch A (Mar Mgr) L.L.C.	Limited partner	1 Mar 2015	75% - 100%	47-2592516
Blackstone Strategic Capital Holdings (Cayman) L.P.	Sole member	1 Mar 2015	75% - 100%	98-1135363
Bruce Jeffrey Richards	Managing member	1 Jan 2017	50% - 75%	1268078
Louis Todd Hanover	Managing member	1 Jan 2017	50% - 75%	1959888
Marathon Corporate Credit Partners I (Cayman) Gp Llc	Class a member	1 Jan 2017	75% - 100%	82-4418977

Based in New York

The principal office where Marathon Asset Management, L.P. performs its advisory services is located at One Bryant Park, New York, NY 10036, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-500-3000 or by fax 212-205-8800. The normal business hours are 8 a.m. to 6 p.m. on Monday - Friday. You can find more information about the New York firm at marathonfund.com/.