{"url":"https://nivawealth.com/firms/marathon-asset-management-124613","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/124613","regulatoryAum":30479473561,"crd":"124613","secFileNumber":"801-61792","legalName":"Marathon Asset Management, L.P.","displayName":"Marathon Asset Management","website":null,"founded":null,"organization":"Delaware limited partnership","fiscalYearEnd":"December","headquarters":{"street":"One Bryant Park, 38th Floor","city":"New York","state":"NY","stateName":"New York","country":"United States","postalCode":"10036"},"tradeNames":["CVC Marathon"],"registration":{"secApproved":"21 February 2003","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":193,"advisory":99,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"discretionary":29360006944,"discretionaryAccounts":132,"nonDiscretionary":1119466617,"nonDiscretionaryAccounts":9,"wrapProgram":null,"nonUsClientsPct":32,"nonAumClients":31},"clientTypes":[{"label":"Investment companies","clients":8,"regulatoryAum":1164060415},{"label":"Pooled investment vehicles","clients":111,"regulatoryAum":27039217760},{"label":"Pension and profit-sharing plans","clients":null,"regulatoryAum":70624341},{"label":"Charitable organizations","clients":null,"regulatoryAum":75730776},{"label":"State or municipal government entities","clients":6,"regulatoryAum":568792860},{"label":"Other investment advisers","clients":12,"regulatoryAum":1026903767},{"label":"Insurance companies","clients":null,"regulatoryAum":534143642}],"fees":[],"feeNotes":[],"custodians":[{"name":"BNY Mellon Custody Client Service","shortName":"BNY Mellon Custody Client Service","location":"Pittsburgh, PA","smaAssets":877558538},{"name":"BGL BNP Paribas","shortName":"BGL BNP Paribas","location":"Luxembourg","smaAssets":511698021},{"name":"State Street Bank and Trust Company","shortName":"State Street Bank and Trust","location":"Boston, MA","smaAssets":482901045},{"name":"The Northern Trust Company","shortName":"The Northern Trust","location":"Chicago, IL","smaAssets":501167549}],"custodyNote":"Marathon Asset Management has custody of $3.36B for 22 clients.","otherCustodians":[],"leadership":[{"name":"Bruce Richards","title":"Founder, Managing Partner, Chief Executive Officer","crd":"1268078"},{"name":"James Raboy","title":"Chief Operating Officer","crd":"2124306"},{"name":"Anne Campbell","title":"Chief Compliance Officer","crd":"6132885"},{"name":"Christine Chartouni","title":"Chief Legal Officer","crd":"5850707"},{"name":"Louis Hanover","title":"Founder, Managing Partner, Chief Investment Officer","crd":"1959888"}],"ownership":[{"label":"Principal Holdco LLC","detail":"Limited partner in the 75% or more ownership band and a control person, since July 2026."},{"label":"Principal Carry, L.P.","detail":"Limited partner in the 5% to 10% ownership band, since July 2026. Also a limited partner of Principal Subco LP in the 25% to 50% band and a control person, since July 2026."},{"label":"Bruce Richards","detail":"Indirect owner: a member of Principal Partner Holdings GP, LLC in the 50% to 75% band and a control person, since July 2026.","parent":"Principal Partner Holdings GP, LLC"},{"label":"Louis Hanover","detail":"Indirect owner: a member of Principal Partner Holdings GP, LLC in the 50% to 75% band and a control person, since July 2026.","parent":"Principal Partner Holdings GP, LLC"},{"label":"Principal Subco LP","detail":"Indirect owner: a member of Principal Holdco LLC in the 75% or more band and a control person, since January 2026.","parent":"Principal Holdco LLC"},{"label":"Principal Subco GP LLC","detail":"Indirect owner: general partner of Principal Subco LP and a control person, since January 2026.","parent":"Principal Subco LP"},{"label":"CVC Advisers (luxembourg) S.A.R.L.","detail":"Indirect owner: a limited partner of Principal Subco LP in the 50% to 75% band and a control person, since January 2026. Also a sole member of Principal Mam GP LLC in the 75% or more band and a control person, since February 2026. Also a sole member of Principal Subco GP LLC in the 75% or more band and a control person, since January 2026.","parent":"Principal Subco LP"},{"label":"CVC Capital Partners Advisory Holdings II Limited","detail":"Indirect owner: a sole shareholder of CVC Advisers (luxembourg) S.A.R.L. in the 75% or more band and a control person, since December 2015.","parent":"CVC Advisers (luxembourg) S.A.R.L."},{"label":"CVC Capital Partners Advisory Holdings Limited","detail":"Indirect owner: a sole shareholder of CVC Capital Partners Advisory Holdings II Limited in the 75% or more band and a control person, since January 2016.","parent":"CVC Capital Partners Advisory Holdings II Limited"},{"label":"CVC Capital Partners Advisory Group Holding Foundation","detail":"Indirect owner: a sole shareholder of CVC Capital Partners Advisory Holdings Limited in the 75% or more band and a control person, since January 2016.","parent":"CVC Capital Partners Advisory Holdings Limited"},{"label":"CVC Management Holdings II Limited","detail":"Indirect owner: a founder, guardian & council member of CVC Capital Partners Advisory Group Holding Foundation in the 75% or more band and a control person, since April 2024.","parent":"CVC Capital Partners Advisory Group Holding Foundation"},{"label":"CVC Capital Partners PLC","detail":"Indirect owner: a sole shareholder of CVC Management Holdings II Limited in the 75% or more band and a control person, since April 2024.","parent":"CVC Management Holdings II Limited"},{"label":"CVC Nominees Limited","detail":"Indirect owner: a shareholder of CVC Capital Partners PLC in the 25% to 50% band and a control person, since April 2024.","parent":"CVC Capital Partners PLC"},{"label":"Principal Partner Holdings GP, LLC","detail":"Indirect owner: general partner of Principal Carry, L.P. and a control person, since July 2026.","parent":"Principal Carry, L.P."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":2,"privateResidences":0},"listedOfficeAddresses":3,"officesByState":[{"state":"California","offices":1,"addresses":[{"street":"4640 Admiralty Way","city":"Marina Del Rey"}]},{"state":"Florida","offices":1,"addresses":[{"street":"80 SW 8th Street","city":"Miami"}]},{"state":"New York","offices":1,"addresses":[{"street":"One Bryant Park, 38th Floor","city":"New York","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"212-500-3000","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Performance-based fees"],"activities":["Portfolio management for investment companies","Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients"],"financialPlanningClients":null,"assetMix":[{"label":"Sovereign bonds","percent":36},{"label":"Non-investment grade corporate bonds","percent":38},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":11},{"label":"Other","percent":15,"detail":"Structured Products, Bank Debt, and Loans"}],"privateFunds":70},"sources":{"adv1FilingDate":"31 July 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/124613/PDF/124613.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Marathon Asset Management have?","answer":"Marathon Asset Management has 137 clients and manages $30.5 billion for them, as of July 2026. They include 111 pooled investment vehicles, 12 other investment advisers and 8 investment companies.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 31 July 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Marathon Asset Management offer?","answer":"Marathon Asset Management provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Marathon Asset Management use?","answer":"Marathon Asset Management’s separately managed account assets are held at BNY Mellon Custody Client Service (Pittsburgh, PA), with $877,558,538, BGL BNP Paribas (Luxembourg), with $511,698,021, The Northern Trust Company (Chicago, IL), with $501,167,549 and State Street Bank and Trust Company (Boston, MA), with $482,901,045. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 July 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Marathon Asset Management have?","answer":"Marathon Asset Management has 0 investment adviser representatives registered with state securities authorities, out of 193 employees, and 99 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Marathon Asset Management invest in?","answer":"At the end of its last fiscal year, Marathon Asset Management’s separately managed accounts held 38% high-yield corporate bonds, 36% sovereign bonds, 15% structured products, bank debt, and loans and 11% pooled vehicles (private funds and similar). It advises 70 private funds.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Marathon Asset Management?","answer":"Marathon Asset Management is owned through a chain of holding companies by Bruce Richards, Louis Hanover and CVC Nominees Limited. Its direct owners are Principal Holdco LLC (75% or more) and Principal Carry, L.P. (5% to 10%).","source":"Form ADV Part 1A, Schedules A and B, filed 31 July 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Marathon Asset Management get paid?","answer":"Marathon Asset Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":{"url":"https://nivawealth.com/firms/marathon-asset-management-124613/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-14","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/1279913/000149315226038368/0001493152-26-038368-index.html","totalValue":41536390,"positionCount":7,"top10Share":1,"top10":[{"issuer":"RACKSPACE TECHNOLOGY INC","titleOfClass":"COM","cusip":"750102105","value":23665027,"shares":3624047,"shareType":"SH"},{"issuer":"IHEARTMEDIA INC","titleOfClass":"COM CL A","cusip":"45174J509","value":6327750,"shares":1475000,"shareType":"SH"},{"issuer":"GRAFTECH INTL LTD SR NT","titleOfClass":"COM NEW","cusip":"384313607","value":5690313,"shares":962828,"shareType":"SH","priorValue":8214750,"priorShares":1211615},{"issuer":"JOHN HANCOCK EXCHANGE TRADED","titleOfClass":"HIGH YIELD ETF","cusip":"47804J719","value":2556300,"shares":100000,"shareType":"SH","priorValue":3168163,"priorShares":125000},{"issuer":"STATE STREET SPDR S&P 500 ETF TRUST","titleOfClass":"TR UNIT","cusip":"78462F103","value":1558500,"shares":3000,"shareType":"SH","putCall":"Put"},{"issuer":"ISHARES TR","titleOfClass":"20 YR TR BD ETF","cusip":"464287432","value":1273500,"shares":18000,"shareType":"SH","putCall":"Call","priorValue":630000,"priorShares":9000},{"issuer":"STATE STREET SPDR S&P 500 ETF TRUST","titleOfClass":"TR UNIT","cusip":"78462F103","value":465000,"shares":3000,"shareType":"SH","putCall":"Call"}],"positionsListed":7,"positions":[{"issuer":"RACKSPACE TECHNOLOGY INC","titleOfClass":"COM","cusip":"750102105","value":23665027,"shares":3624047,"shareType":"SH"},{"issuer":"IHEARTMEDIA INC","titleOfClass":"COM CL A","cusip":"45174J509","value":6327750,"shares":1475000,"shareType":"SH"},{"issuer":"GRAFTECH INTL LTD SR NT","titleOfClass":"COM NEW","cusip":"384313607","value":5690313,"shares":962828,"shareType":"SH","priorValue":8214750,"priorShares":1211615},{"issuer":"JOHN HANCOCK EXCHANGE TRADED","titleOfClass":"HIGH YIELD ETF","cusip":"47804J719","value":2556300,"shares":100000,"shareType":"SH","priorValue":3168163,"priorShares":125000},{"issuer":"STATE STREET SPDR S&P 500 ETF TRUST","titleOfClass":"TR UNIT","cusip":"78462F103","value":1558500,"shares":3000,"shareType":"SH","putCall":"Put"},{"issuer":"ISHARES TR","titleOfClass":"20 YR TR BD ETF","cusip":"464287432","value":1273500,"shares":18000,"shareType":"SH","putCall":"Call","priorValue":630000,"priorShares":9000},{"issuer":"STATE STREET SPDR S&P 500 ETF TRUST","titleOfClass":"TR UNIT","cusip":"78462F103","value":465000,"shares":3000,"shareType":"SH","putCall":"Call"}]},"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}