Middle market private credit special opportunities and corporate turnarounds

Founded in 2008, Marblegate Asset Management is an alternative investment firm specializing in middle market private credit and special opportunities. We invest in troubled middle market assets, utilizing our extensive in-house financial and operational restructuring experience to engineer successful turnarounds. Our hands-on approach begins through direct sourcing of opportunities from the original providers of credit to middle market companies. Applying the tools and techniques of distressed investing, we use the rights and remedies in credit agreements to actively create value by exerting the control available to creditors who can provide transformative capital to stressed and distressed assets. Our in-house Value Creation Team of operational professionals then provide hands-on business transformation bridging strategy and execution to mitigate risk and drive realizations of investments. We transform complexity to create value.

Direct Sourcing of Troubled Assets Drives Deployment

Leadership in Financial & Operational Restructuring Underpins Results

Win By Not Losing With Intense Focus on Downside Protection

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1.  AUM is calculated as of 12/31/2023 using the NAV or NAV plus uncalled capital where applicable.
2. Capital Invested and Realizations are as of 12/31/2023. Capital Invested represents total purchases / expenditures (including deal-related expenses) for investments in the Firm. These purchases may have been funded with capital calls or recycled cash on hand (i.e., paydowns, interest payments and / or profits generated from investments in the Firm). Realizations are total gross proceeds since inception. Capital Invested and Realizations are excluding hedges. Key Statistics are including all funds excluding hedges.
3.  Reflects average invested capital and cumulative realizations since 2018, the inception of our close-end structures, excluding hedges.
4.  Based on number of actual current Investments in Marblegate’s Portfolio as of 12/31/2023, where Marblegate has led a restructuring, reorganization, or recapitalization.
5.  Gross Investment level IRRs are shown before fund management fees, fund performance fees and fund expenses. Net Investment Level IRRs are shown after applying a 1.5% management fee on invested capital and a 20.0% incentive fee subject to an 8% preferred return for both Partners Fund I and Partners Fund II. Fully realized investments are investments that have been completely exited by the respective fund. Investment level metrics will differ from fund return metrics based on the timing and frequency of cashflows in and out of the respective funds.
6.  Approximate number of distinct investments since inception excluding hedges.
7.  Reflects losses by distinct investments over the life of the Firm, and all 3 of these investments have been fully exited.
8. Average Purchase Price Since Inception is estimated from the aggregation of purchases by Marblegate Partners Fund I, Marblegate Partners Fund II, and Marblegate Special Opportunities Fund, in each case, since such fund’s inception. The population of purchases includes only secondary market purchases of corporate debt (bonds and bank debt) and does not include trade claims, equity fundings, direct lending transactions, restructurings, or additional new money fundings for existing corporate positions. The estimated average purchase price set forth herein is for illustrative and information purposes only, and is provided to you on the understanding that, as a sophisticated investor, you understand and accept the inherent limitations of such illustrations, and you will not rely on it in making any investment decision.