On June 22, 2016, Marathon Asset Management LP announced that Blackstone Alternative Asset Management LP had acquired a minority interest in its firm.
Specific terms of the agreement between Marathon Asset Management LP (“Marathon”) and Blackstone Strategic Capital Holdings Fund (“BSCH”), a vehicle managed by Blackstone Alternative Asset Management LP (“BAAM”), have not been disclosed.
BSCH is a $3 billion private equity fund that has recently acquired stakes in Magnetar Capital LLC, Senator Investment Group LP, and Solus Alternative Asset Management LP.
Marathon is a New York-based investment advisor with approximately $12.75 billion in assets under management. Marathon provides credit-based investments, including corporate credit, distressed credit, and structured credit. Marathon’s existing leadership, which includes the recent promotion of Partner and COO Andrew Rabinowitz to President and COO, will continue to control its daily operations, business management, and investment processes.
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