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Alternative Market Briefing

Marathon Asset Management raises $360m for new aviation fund

Monday, June 03, 2019

Laxman Pai, Opalesque Asia:

New York-based credit investment manager Marathon Asset Management has announced the closure of its first fund -Marathon Aviation Fund - amounting to $360m, solely dedicated to aviation leasing.

The new strategy, which was oversubscribed, will focus on leasing the most in-demand early- to mid-life aircraft, and providing investors with returns that have low correlation to other asset classes, said Marathon Asset Management, the investment advisor with approximately $16.5bn of capital under management, in a press release.

"Continuous rapid growth in global passenger air travel that is outpacing airlines' order capabilities, along with the aging of global fleets and airlines' increasing preference for leasing new, fuel-efficient planes, is creating a compelling opportunity in the aircraft leasing sector," said Andrew Springer, Partner and Head of Structured Credit at Marathon Asset Management.

"We believe our strategy of buying commercial aircraft with triple-net leases and financing from leading partners will provide a highly attractive alternative to traditional fixed income investments," Springer added.

Andrew Rabinowitz, President, Chief Operating Officer and President of Marathon Asset Management said: "Since 2005, we have had a solid track record of delivering strong returns in aircraft leasing and given this experience and Marathon's sourcing capabilities and active pipeline we were well positioned to successful......................

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