Marathon Asset Management closed its latest collateralized loan obligation (CLO) at $400 million — the first new CLO executed on Marathon’s global performing credit platform this year.
The Bryant Park Funding 2023-19 Ltd. is the first CLO under the $20 billion-plus investment firm’s Bryant Park Funding shelf, which is focused on high-quality, liquid, broadly syndicated senior secured loans with an emphasis on capital preservation, lower volatility and structural durability.
Managing Director and Senior Portfolio Manager of the CLO Strategy Karen Lau said that the portfolio remains conservatively positioned and relying on Marathon’s “time-tested fundamental credit research process and disciplined portfolio construction guidelines to identify strong credits within the senior secured loan universe.”
Lau joined from Onex last year as Marathon’s CLO strategy surpassed $5 billion in assets.
“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 at New York-based Marathon. “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.”