Alpha Through Rigorous Credit Selection & Optimal Allocation

Marathon utilizes bottom-up fundamental credit research, understanding of capital flows and technical conditions, including index arbitrage, and relative value analysis, to optimally identify attractively priced credits that offer the attractive risk-reward as we endeavor to deliver portfolio optimization and performance. Credit markets offer a wide array of opportunities to capture both current cash-flow and capital appreciation through when selected discounted bonds pulling to par.

Marathon's Leveraged Loan & CLO program employs a fundamental bottoms-up credit selection process across the broadly syndicated loan universe. Our highly experienced team actively manages and carefully constructs portfolios focused on credit quality and diversification within the Leveraged Loan and CLO market. Marathon's credit research, proprietary risk models, in conjunction with our robust structural CLO analysis allows for active liability management to enhance our results. Our long-term track record, proven over two decades of market cycles, is supported by a robust infrastructure team, including risk management, asset management, financial controls, and legal expertise. Our team examines the broadly syndicated loan market and the CLO Market to find attractive opportunities to invest in loans, CLO debt tranches and CLO equity. Marathon manages CLOs through our CLO Equity Fund, a Loan Fund, and customized solutions.

Marathon's Emerging Markets Program takes a rigorous and nuanced approach to investing within the EM hard currency fixed income universe. Marathon's dedicated EM team targets an optimal risk-return profile, with investments in sovereign, quasi-sovereign, and corporate opportunities. Our portfolios are carefully constructed within our dynamic framework, capitalizing on the team's deep expertise in portfolio management and index architecture. Marathon offers actively managed Long Only Funds and customizable solutions to meet our clients' investment objectives.

Marathon's Structured Credit Program is driven by our tactical approach to fundamental credit selection with a strategic asset allocation process that is highly developed. Cycle tested, post-GFC Marathon was selected by the U.S. Treasury to manage capital in the Public-Private Investment Program (“PPIP”) and was the #1 performing manager. Our integrated Structured Credit team has dedicated investment professionals specializing across RMBS, CMBS, CLOs and ABS. Our analytical approach is informed by comprehensive analysis derived from our proprietary machine learning technology (“m2PT”), generating alpha through rigorous collateral underwriting, loan performance and optimal positioning within the capital structure. Utilizing active asset management, our team carefully constructs portfolios with a focus on downside protection that seeks to maximize Sharpe ratio and portfolio diversification, while decreasing market correlation. Marathon offers a diverse range of investment strategies, including a High Yield Structured Credit Fund and customizable solutions.