PPIP mandate gives Marathon stamp of approval

Fri Jul 10, 2009




Marathon Asset Management, which had a run-in with some of its investors after deciding to restrict redemptions at the end of 2008, has won one of nine fund manager spots on the U.S. Treasury's legacy securities investment plan.

Under the Public-Private Investment Program (PPIP), the government provides loan and leverage assistance for the purchase of assets (primarily mortgage-backed securities) that are still clogging bank balance sheets. It is a potentially lucrative arrangement for participating firms.


The bonus for Marathon is that its selection came after a thorough vetting by Treasury that could serve as a stamp of approval for the...

ISSN: 2151-1845 / CDC10004H

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