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Marathon Asset Management has announced the opening of a new office in Istanbul, expanding the New York-based firm's existing emerging markets capabilities and providing it with a strong presence for originating and executing future investment activities in the region.

Marathon's Istanbul office will be headed by Mehmet I. Budak, a director in the firm's emerging markets group who previously focused on private equity investments in the financial services industry and developing countries at the Carlyle Group.

Earlier Budak was part of the financial institutions group at Goldman Sachs and has been adjunct professor at Johns Hopkins School of Advanced International Studies, where he taught private equity investing in developing countries.

'I am excited to welcome Mehmet to the Marathon team,' says head of emerging markets Scott Gordon. 'The Istanbul location adds a strong regional presence to partner with our offices in New York and London.

'Adding this office will enable Marathon to originate and execute private equity, real estate, principal finance and public equity deals throughout Turkey, South-East Europe, the Middle East and North Africa.'

Marathon's emerging markets practice focuses on opportunistically investing and trading across both debt and equity in public and private markets. Marathon has made investments in every emerging market region around the globe with a special focus in Latin America, Eastern Europe and Asia. The group includes a dedicated portfolio management and research team to identify opportunities and implement a highly disciplined investment approach.

Founded in 1998, Marathon has USD11bn in capital under management and USD20bn in assets. The firm has 165 professionals specialising in debt, equity and real estate at its headquarters in New York and offices in London, Singapore, Hong Kong, Istanbul, Mumbai, Sao Paulo, Washington, DC and Los Angeles.


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