Marathon Asset Management LLC opened its first office in Turkey.
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The Istanbul office, which opened Monday, expanded Marathon's emerging-markets operations.
Marathon hired Mehmet I. Budak to run the new office as a director in the emerging markets group. Mr. Budak worked for Carlyle Group, where he focused on private-equity investments in the financial services industry and developing countries.
Marathon's emerging markets practice focuses on investing and trading across both debt and equity in public and private markets.
Marathon has $20 billion of assets under management. Founded in 1998, it has offices in London, Singapore, Hong Kong, Mumbai, Sao Paulo, Washington, and Los Angeles.
