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Marathon Asset Management and Webster Bank Form Private Credit Joint Venture

Jul 01, 2024•almost 2 years ago

Contract Type

partnership

New YorkFinancial ServicesFinanceLending

Description

Marathon Asset Management, L.P. and Webster Financial Corporation have announced the formation of a private credit joint venture, aimed at delivering direct lending solutions to sponsor-backed middle market companies. This partnership combines each firm’s credit expertise, private equity sponsor relationships, and standing in the middle market.

Company Information

Company

Marathon Asset Management

Location

New York, New York, United States

About

Marathon Asset Management LP is a global credit manager with over $23 billion in assets under management. The firm was formed in 1998 by Chairman & CEO Bruce Richards and CIO Louis Hanover and has offices in New York City, London and Tokyo. Marathon's core competency is opportunistic investing in the global corporate, emerging market and structured credit markets. Its Capital Solutions platform specializes in designing bespoke private credit transactions to high-quality companies and seeks to invest $50 million to $500 million per transaction. Marathon provides partnership capital to sponsors and management teams primarily in the form of senior secured unitranche loans, junior lien debt, mezzanine debt, convertible bonds and preferred equity. For additional information, please visit www.marathonfund.com.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months