Marathon Structured Finance Fund has opened its doors to an additional $50 million of new capital, effective July 1.
The fund, advised by Louis Hanover's Marathon Asset Management in New York, focuses on complex situations and often takes concentrated, illiquid positions. Terms for the fresh capital were strict: Investors accepted a three-year soft lockup with a 2% early redemption penalty for the first two 18-month liquidity periods. Following that, investors may redeem on 18-month rolling liquidity with 180 days notice.
The fund has accumulated more than $1 billion in assets and has generated 20.61% annualized net returns since its