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Marathon Asset Management Closes $400MM New Issue Collateralized Loan Obligation

March 09, 2023, 07:04 AM
Filed Under: Industry News

Marathon Asset Management announced the closing of Bryant Park Funding 2023-19 Ltd., a $400 million new issue Collateralized Loan Obligation (“CLO”). This is the first new CLO executed by Marathon’s global Performing Credit platform in 2023, as well as the first under the firm’s Bryant Park Funding shelf. Marathon’s Bryant Park Funding CLO program focuses on high-quality, liquid, broadly syndicated senior secured loans with an emphasis on capital preservation, lower volatility, and structural durability.

Karen Lau, Managing Director and Senior Portfolio Manager for Marathon’s CLO Strategy on Bryant Park 2023-19, said, “I am thrilled to have closed our first Bryant Park Funding transaction. This is a conservatively positioned portfolio, resulting from Marathon’s time-tested fundamental credit research process and disciplined portfolio construction guidelines to identify strong credits within the senior secured loan universe.”

“We are excited to have priced Bryant Park Funding 2023-19 at very attractive levels and with broad interest from the CLO investor community,” added Jonathon Siatkowski, Managing Director and Head of CLO Capital Markets. “We welcome the newest investors to our CLO Strategy, including large, well-respected pension funds, sophisticated asset managers, and strongly capitalized banking institutions. We also thank long-standing partners within Marathon’s global network for their continued support. Marathon continues to view the new issue CLO market as offering strong value to investors across the capital structure.”

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