Marathon Asset Management has made its head of real estate, Jon Halpern, a partner along with four other senior professionals.
The New York alternative asset manager also said it promoted Andrew Rabinowitz, chief operating officer; Richard Ronzetti, global investment management and head of research; Steve Kim, chief investment officer of Asia; and Adam Phillips, chief investment officer of Europe, to partners.
Marathon was founded by Bruce Richards and Louis Hanover in January 1998 as an alternative asset manager focused on global credit investment opportunities and has been expanding its real estate platform.
Hanover said in a statement that the expansion of the partnership was the “next step” in Marathon's evolution. “We have strengthened our partnership with key representatives from our core strategies and geographies,” he added.
Last year, Halpern told PERE the firm had just opened an office in Mumbai where it had become equity partner to Indian development companies. The firm also added an office in Turkey.
Marathon has $10 billion of capital under management in areas such as bank debt, stressed debt, emerging market debt, special situations, structured finance, structured debt transactions, real estate opportunities and investments.