Marathon Asset Management

US-based alternative asset manager with active CRE debt platform in both North America and Europe. Products span senior whole loans and opportunistic credit. Strong hospitality and multifamily sector focus. European office active in London. Margin typically 300–400 bps depending on structure.

European credit platform formed from CVC acquisition of Marathon Asset Management ($1.2bn, Jan 2026). €61bn fee-earning AUM combined. 190-person global team including 95 investment professionals. European real estate debt business in active expansion: loan origination, loan portfolio acquisition, new-issue and secondary CMBS. Senior European CRE debt team is BREDS alumni: Laurent Tarneaud (MD Real Estate Debt, ex-BREDS principal) and Alex Howell (Head European Alternative Credit, ex-Blackstone UK private credit & opportunistic credit). New European CRE debt strategies expected post-CVC ownership. Bruce Richards and Lou Hanover continue to co-head credit strategies.