Marathon extends lockup for Special Ops

Fri Dec 1, 2006

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...


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