Marathon Asset Management has rolled out a new European distressed credit fund with $100 million in assets, HFMWeek reports. The Marathon European Credit Opportunity Fund is likely to reach $1 billion in asset under management by the end of 2011.
The New York-based company is targeting the first close of the fund on September 30 and the second on November 30. The firm is seeking to raise the fund’s assets to $500 million by the end of the first close.
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