Billionaire Marc Lasry told investors in his Avenue Capital that he will remain at the hedge fund and not become the next U.S. ambassador to France, according to a person familiar with the situation.
Lasry told clients he would remain at the New York-based fund in a note to investors on Tuesday, according to a person with knowledge of the note.
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Lasry had been seen as likely to be nominated by President Barack Obama for position.
(Reporting By Katya Wachtel)