Marathon Asset Management closed its Marathon distressed credit fund, which was oversubscribed with approximately $2.5 billion in commitments. The fund will pursue opportunities such as restructurings, debtor-in-possession financings and exit financings.
Marathon Asset Management provided a three-year $35 million facility to tech company Workhorse Group. The financing consisted of a $10 million lump sum and a $25 million revolving credit facility.
ADMA Biologics entered into a credit agreement for up to $40 million with affiliated entities of Marathon Asset Management. The proceeds were used to refinance an outstanding secured loan with Oxford Finance.
Bloomberg reported Marathon Asset Management is seeking to raise a $500 million fund to capitalize on a lending void left by primarily-U.S. banks, according to a person with knowledge of the matter.