Marathon Asset Management, L.P. has completed an initial closing of a Public-Private Investment Fund (PPIF) established under the Legacy Securities Public-Private Investment Program (PPIP), the U.S. Department of Treasury announced Monday.
On this PPIF, Marathon is partnering with Blaylock Robert Van, LLC, a full-service, minority owned investment banking firm.

PPIFs have completed initial and subsequent closings on approximately $5.07 billion of private sector equity capital, to date. This has been matched 100 percent by Treasury, resulting in $10.13 billion of total equity capital.

Additionally, Treasury has supplied $10.13 billion of debt capital, representing $20.26 billion of total purchasing power.
With one PPIF remaining, Treasury expects an initial closing to be announced soon. To receive matching Treasury equity and debt financing, each PPIF has the opportunity to conduct additional closings during the six months following an initial closing. The total Treasury equity and debt investment in all PPIFs is equal to $30 billion. Including private investor capital, Treaury’s equity and debt investment is $40 billion.