Marathon Asset to Pay $1.5 Million Over Internal Policy Lapse

Marathon Asset Management LP will pay a $1.5 million penalty for failing to establish policies to prevent the misuse of confidential information it learned regarding distressed companies, according to the US Securities and Exchange Commission.

The New York-based firm didn’t admit or deny the SEC’s allegations, which centered on information Marathon learned as it worked with various companies’ advisers and creditors, the SEC said Monday.

Marathon manages assets across several strategies, including private credit, leveraged loans, and real estate, and has significant holdings in distressed companies. It regularly joins up with other investors and advisers to figure out debt-restructuring opportunities ...