(Bloomberg) Archview Investment Group LP became the latest distressed-debt hedge fund to close its doors, according to people with knowledge of the matter.The firm founded by former heads of Citigroup Inc.’s distressed-debt team will start returning money to investors after the end of the year, the people said, asking not to be identified because the information isn’t public. Archview, which counts Blackstone Group LP among its bigger investors, posted gains of 5.3 percent this year with assets of about $650 million, one of the people said. Jeff Jacob, one of Archview’s founders, will be joining Marathon Asset Management LP, where he’ll co-head the $14 billion hedge-fund firm’s opportunistic credit strategies, the people said.Jacob declined to comment on the fund’s closure. Representatives for Marathon and Blackstone also declined to comment.

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