Marathon Asset Management is extending the lockup for its
high-performing Marathon Special Opportunities Fund, which
manages an estimated $2.47 billion. The firm is also tightening
the fund's gate to 20% from 30% of assets.
As of yearend, investors who hold nonexit limited shares
will see 75% of those shares converted into a new subclass of
shares with a two-year lock. Redemptions after that period are
subject to 180 days notice. The New York...