Marathon Asset Management

Monarch Alternative Capital Strengthens Team to Strategically Expand Capital Solutions and Real Estate Platforms

Retrieved on: 
Monday, March 18, 2024
Marathon Asset Management, Monarch, Citigroup, Partner, Ares Management, Silver Point Capital, Credit Suisse, Commercial

These additions to the team augment Monarch's long-standing capabilities across corporate lending and real estate structured credit, respectively, and strengthen the firm's ability to capitalize on the growing opportunities for capital deployment in these areas.

Key Points: 
  • These additions to the team augment Monarch's long-standing capabilities across corporate lending and real estate structured credit, respectively, and strengthen the firm's ability to capitalize on the growing opportunities for capital deployment in these areas.
  • Casey Callan joined Monarch as a Principal specializing in capital solutions.
  • Mr. Malhotra will play a central role in positioning Monarch to capitalize on the growing opportunity set in structured credit and real estate over the coming years.
  • "Monarch has an established track record of providing flexible lending solutions within corporate situations and investing in structured credit and real estate since its inception," said Michael Weinstock, Chief Executive Officer for Monarch.

John Hancock Investment Management Files Initial Registration Statement for New High Yield ETF Subadvised by Marathon Asset Management

Retrieved on: 
Thursday, February 1, 2024
Partnership, Security (finance), NOT, BANK, Research, FDIC, Moody's Investors Service, NRSRO, Exercise, Marathon Asset Management, Prospectus, Dimensional Fund Advisors, Investment, S&P, ETF, NAV, Communication, Risk, Sale, Lovell Minnick Partners

The new ETF will be subadvised by Marathon Asset Management LP and is subject to all applicable regulatory approvals.

Key Points: 
  • The new ETF will be subadvised by Marathon Asset Management LP and is subject to all applicable regulatory approvals.
  • The ETF will be managed by Louis Hanover, Chief Investment Officer, and Michael Schlembach, Managing Director and Senior Portfolio Manager, Marathon Asset Management.
  • "We are excited to expand Marathon's partnership with John Hancock Investment Management by bringing our US high yield strategy to a broad range of investors with JHHY," said Bruce Richards, CEO and Chairman of Marathon Asset Management.
  • Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management.

Marathon Asset Management Provides Creative Capital Solution to Support Bridger Aerospace’s Growth

Retrieved on: 
Wednesday, November 22, 2023
Banking, Asset Management, Professional Services, Finance, Aircraft, International joint venture, Acquisition, Government of Spain, Wildfire, DNA, Joint venture, Joint, Investment, European, Marathon Asset Management, Canadair, Transport, Partnership, Aviation, Corporate credit union, Airline

Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, announced it has entered into a joint venture partnership with Marathon Asset Management L.P. and Avenue Capital’s Sustainable Solutions Fund.

Key Points: 
  • Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, announced it has entered into a joint venture partnership with Marathon Asset Management L.P. and Avenue Capital’s Sustainable Solutions Fund.
  • “Marathon is excited to support Bridger Aerospace’s expansion to the European Union with our transformative transaction.
  • We have continued to strengthen our relationship with Bridger’s management team, and we are excited to have designed a creative capital solution that enabled Bridger to complete the Spanish Scooper transaction.
  • This result demonstrates Marathon’s ability to move quickly and deploy our flexible capital across the broader landscape of corporate credit.

Marathon Asset Management Appoints Alex Howell to Lead Marathon’s European Alternative Credit Business

Retrieved on: 
Friday, November 17, 2023
Asset Management, Professional Services, Finance, Senior, Entrepreneurship, Blackstone Credit, Investment, Lehman Brothers, Marathon Asset Management, Nomura

Marathon Asset Management, L.P. (“Marathon”), a leading global credit investment manager, today announced that Alex Howell has joined the firm as a Senior Managing Director and Head of European Alternative Credit, responsible for leading public investments, corporate capital solutions, special situations and direct lending in Europe.

Key Points: 
  • Marathon Asset Management, L.P. (“Marathon”), a leading global credit investment manager, today announced that Alex Howell has joined the firm as a Senior Managing Director and Head of European Alternative Credit, responsible for leading public investments, corporate capital solutions, special situations and direct lending in Europe.
  • Mr. Howell joins Marathon after almost 11 years at Blackstone Credit and GSO Capital, where he made numerous investments across the capital structure in its public and private credit strategies.
  • In that time, Mr. Howell’s roles included leading the UK geography for Blackstone's private credit strategies across direct lending, capital opportunities and capital solutions.
  • Alex's hiring further demonstrates our commitment to that focus.”
    "I’m excited to join Marathon to help grow the firm’s European business and reinforce its position as a leading global credit manager,” said Mr. Howell.

Theratechnologies Announces Pricing of US$25 Million Public Offering of Common Shares and Concurrent Private Placement

Retrieved on: 
Thursday, October 26, 2023
Capital market, Sale, Register, The Women on the 6th Floor, Toronto Stock Exchange, EDGAR, Registration statement, Form, News, Option, Private, Attention, Investissement Québec, Indian stock exchange, Public, Marathon Asset Management, TSX, Security (finance)

MONTREAL, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (Nasdaq: THTX; TSX: TH), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has priced its previously announced public offering (the “Public Offering”) of 12,500,000 common shares of the Company (the “Common Shares”) at a public offering price of US$1.00 per Common Share (the “Offering Price”). The gross proceeds of the Public Offering are expected to be approximately US$12,500,000, before deducting the underwriting discounts and commissions and other estimated offering expenses. The Company has also granted the underwriter a 30-day option (the “Option”) to purchase up to 1,875,000 Common Shares at the Offering Price, less underwriting discounts and commissions.

Key Points: 
  • MONTREAL, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (Nasdaq: THTX; TSX: TH), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has priced its previously announced public offering (the “Public Offering”) of 12,500,000 common shares of the Company (the “Common Shares”) at a public offering price of US$1.00 per Common Share (the “Offering Price”).
  • The gross proceeds of the Public Offering are expected to be approximately US$12,500,000, before deducting the underwriting discounts and commissions and other estimated offering expenses.
  • In connection with the Public Offering, the Company entered into a subscription agreement with Investissement Québec for a concurrent private placement (the “Concurrent Private Placement”) of 9,118,184 Common Shares and 3,381,816 fully-funded, non-voting subscription receipts, exchangeable into Common Shares on a one-for-one basis (the “Exchangeable Subscription Receipts”) in lieu of Common Shares, in each case, at the Offering Price, for US$12,500,000 aggregate gross proceeds, less a capital commitment fee of 1.5% payable to Investissement Québec.
  • The closing of the Public Offering and the Concurrent Private Placement are conditional upon each other.

Saifr® to Sponsor The Summit for Asset Management (TSAM) New York 2023

Retrieved on: 
Wednesday, October 18, 2023
Professional Services, Finance, Nuveen, Regulatory technology, SS, SS&C Technologies, The Summit, Marketing, ML, Marathon Asset Management, AI, Risk management

Saifr® , a regulatory technology (RegTech) business that helps financial services professionals mitigate brand, regulatory, and reputational risk in public communications, will be an exhibitor, sponsor, and speaker at The Summit for Asset Management (TSAM) New York on October 31, 2023.

Key Points: 
  • Saifr® , a regulatory technology (RegTech) business that helps financial services professionals mitigate brand, regulatory, and reputational risk in public communications, will be an exhibitor, sponsor, and speaker at The Summit for Asset Management (TSAM) New York on October 31, 2023.
  • The Saifr team will have a booth showcasing how its solutions help marketing and compliance teams reduce risk exposure, streamline collaboration, and create more compliant content up to 10x faster.
  • SaifrReview® is an innovative enterprise workflow software that simplifies the development and approval of public communications by centralizing content review and fostering cross-team collaboration.
  • TSAM New York gathers financial services professionals including asset managers, advisors, and more to tackle the industry’s latest challenges and opportunities, including evolving regulations and technology.

Theratechnologies Announces Finalization of Amendments to Some of the Terms and Conditions of its Credit Agreement with Marathon

Retrieved on: 
Monday, October 16, 2023
Annual report, TSX, Credit, Rolling Stone's 500 Greatest Albums of All Time, Warrant, Maxima and minima, EBITDA, Marathon Asset Management, Documentation, Exercise, Marathon, Credit agreements in South Africa, News, Security (finance)

MONTREAL, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has finalized all documentation giving effect to the amendments to certain of the terms and conditions of its credit agreement dated July 20, 2022, as amended from time to time (the “Credit Agreement”), with certain funds and accounts for which Marathon Asset Management, L.P. acts as investment manager (collectively, “Marathon”).

Key Points: 
  • - Revised the Minimum Liquidity Covenant for All Times Following October 31, 2023 to be Between US$15 Million and US$20 Million
    This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated December 16, 2021 to its short form base shelf prospectus dated December 14, 2021.
  • MONTREAL, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has finalized all documentation giving effect to the amendments to certain of the terms and conditions of its credit agreement dated July 20, 2022, as amended from time to time (the “Credit Agreement”), with certain funds and accounts for which Marathon Asset Management, L.P. acts as investment manager (collectively, “Marathon”).
  • Following the share consolidation completed on July 31, 2023, the exercise of four Warrants and the payment of US$2.30 are required to subscribe to one common share of Theratechnologies, for up to a maximum issuance of 1,250,000 common shares.
  • The Warrants can be exercised until February 27, 2030.

Theratechnologies Reports Financial Results for the Third Quarter and Nine Months of Fiscal 2023 and Provides Business Updates

Retrieved on: 
Tuesday, September 26, 2023
Term Asset-Backed Securities Loan Facility, Exercise, Uncertainty, Interim, International, Marathon, Classification, Bank statement, Samsung Galaxy Note 7, Credit agreements in South Africa, Policy, Conversation, Financial statement, EDGAR, Element, Government, EBITDA, Corporation, Loan, Patient, Investment, MD, International Financial Reporting Standards, Marathon Asset Management, Consolidation, Condition subsequent, TSX, Growth, Depreciation, R, Adjustment, FDA, Letter, Ovarian cancer, Annual report, Pharmaceutical industry, Security (finance), Fine chemical, Cryptocurrency, Video game, Bank, Bookkeeping, Risk management

The MD&A and the unaudited consolidated financial statements can be found at www.sedarplus.ca , on EDGAR at www.sec.gov and at www.theratech.com .

Key Points: 
  • The MD&A and the unaudited consolidated financial statements can be found at www.sedarplus.ca , on EDGAR at www.sec.gov and at www.theratech.com .
  • Trogarzo® net sales in the third quarter of fiscal 2023 amounted to $7,672,000 compared to $7,935,000 for the same quarter of 2022, representing a decrease of 3.3% year-over-year.
  • As the other asset was fully amortized during fiscal 2022, amortization of the other asset in fiscal 2023 is nil.
  • There were no other significant financing activities or investing activities in the three and nine months ended August 31, 2023, and 2022.

Theratechnologies Announces Agreement in Principle with Marathon to Amend Some of the Terms and Conditions of its Loan Facility

Retrieved on: 
Monday, September 25, 2023
Exercise, Marathon, Toronto Stock Exchange, EBITDA, Term Asset-Backed Securities Loan Facility, Marathon Asset Management, Warrant, TSX, Loan, FDA, Annual report, News, Maxima and minima, Pharmaceutical industry, Security (finance)

MONTREAL, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has reached an agreement in principle to amend some of the terms and conditions of its credit agreement dated July 20, 2022, as amended from time to time (the “Loan Facility”), with certain funds and accounts for which Marathon Asset Management, L.P. acts as investment manager (collectively, “Marathon”).

Key Points: 
  • MONTREAL, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has reached an agreement in principle to amend some of the terms and conditions of its credit agreement dated July 20, 2022, as amended from time to time (the “Loan Facility”), with certain funds and accounts for which Marathon Asset Management, L.P. acts as investment manager (collectively, “Marathon”).
  • Following the share consolidation completed on July 31, 2023, the exercise of four Warrants is required to purchase 1 common share of Theratechnologies, resulting in a maximum issuance of 1,250,000 common shares.
  • The Warrants can be exercised until February 27, 2030.
  • The amendments to the Loan Facility are expected to be executed on or about October 10, 2023.

26North Announces Addition of Seven Partners, Launches Direct Lending Team

Retrieved on: 
Wednesday, September 6, 2023
American Energy Partners, LP, Mace Head Atmospheric Research Station, Insurance, Executive, ABC Supply, JPMorgan Chase, Private equity, Goldman Sachs, Partner, Laureate Education, Goodman Global, Jacuzzi, GE Capital, Jordan, Connections Academy, McKinsey & Company, Marathon Asset Management, Berlitz Corporation, Hospital, McGraw Hill Education, Partnership, Apollo Education Group, Apollo Global Management, Cryptocurrency, Bank, EBITDA

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- Today, 26North Partners LP (26North), a next-generation alternatives platform founded by Josh Harris, announced that seven new partners with deep experience across every aspect of the asset management industry have joined the firm: Larry Berg, Jon Garcia, Andrew Rabinowitz, David Yu, Michael Mastropaolo, Jordan Walter and Jorge Beruff. As 26North marks its first year, the company reported an increase in total assets under management to $12.7 billion.

Key Points: 
  • The seven new partners will deepen 26North's private equity, operations, direct lending and insurance capabilities.
  • "I'm thrilled to welcome these exceptional business builders and leaders who share my values and vision for 26North.
  • Larry Berg joins 26North as a Partner in private equity, working closely with Mark Weinberg, 26North's Head of Private Equity.
  • Three additional partners join 26North to support the launch of its new Direct Lending business under the leadership of Brendan McGovern.