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Marathon expands partnership by five executives


Marathon Asset Management, the New York hedge fund shop founded by Bruce Richards and Louis Hanover, has expanded the size of its partnership by five senior executives. The firm, in a statement, described this expansion as a way to align its executives’ incentives with the firm’s long-term performance.

The firm’s recent performance has been less than stellar. According to an investor estimate, Marathon Global Equity Fund dropped more than 28% in 2008 through December 12, while Marathon Special Opportunities Fund and Marathon Overseas Fund declined more than 28% and 31%, respectively, through December 19.

The firm’s new partners are: