Hedge Fund News: Kyle Bass, Chris Hohn, Jeffrey Smith

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Marathon Asset Appoints Jamie Raboy as Partner (Reuters)

Investment advisor Marathon Asset Management L.P., said it has appointed Jamie Raboy, its global head of risk management, as partner. Raboy has been with New York-based Marathon since its inception in 1998 and serves on the executive board of the firm, which manages about $12.5 billion in assets.

Hedge Funds Resume Bullish Gold Bets as Greece Vote Looms (Bloomberg)

Hedge funds are stepping back onto the gold bandwagon as political turmoil in Greece and government actions in Asia helped send prices to their biggest monthly advance since June. Bullish wagers on the metal increased for the first time in three weeks and have more than doubled since mid-November, U.S. government data show. Short holdings dropped for the sixth week in seven. Bullion rose for a second straight month in December.

Turiya Hedge Fund Said to Return 17.5% of Capital to Investors (Bloomberg)

Davide Erro has decided the best way to keep clients happy is to give some of their money back. Turiya Advisors Asia, the Hong Kong hedge fund that’s grown to manage more than $3 billion since starting trading in 2010, is returning capital amounting to 17.5 percent of its assets at the end of last year, said two people with knowledge of the matter. The Asia-focused equity fund, led by Chief Investment Officer Erro, made the decision because the fund’s assets swelled too quickly, said the people, who asked not to be identified because the information is private. Adrian Gmuer, Turiya’s marketing director, declined to comment.

Debt Dispute Between Hedge Funds and Argentina at Impasse (The New York Times)

The hopes of easing a debt dispute between Argentina and a group of New York hedge funds seemed to be dashed on Monday after the country’s economy minister made an offer that appeared to fall well short of what the investors were seeking. Argentina made the informal offer after a potentially onerous legal clause in its bonds ceased to apply on Dec. 31. The hedge funds, known as holdouts, had sued Argentina in the United States to get full payments on bonds that the country defaulted on in 2001.

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