Marathon Asset Management has held a final close for Marathon Secured Private Strategies Fund III, the third vintage of its closed-end asset-based lending (ABL) fund.
The fund, which was oversubscribed, accepted $1.7 billion of capital commitments from a global base of institutional and high-net-worth investors.
As traditional lenders have downsized their lending programs, Marathon’s ABL strategy is designed to pursue compelling returns for clients by creating a diversified portfolio through sourcing, underwriting and structuring attractive private investments that exhibit principal protection, robust asset coverage and predictable cash flows. In addition to originating loans, Marathon intends to capitalize on the increase of secondary loan market opportunities, as select undercapitalized financial institutions seek to improve their financial condition through asset sales.
“ABL has become a core component within private credit portfolios, and our Marathon Se
