Marathon Hedge Fund’s Richards Says Greece Will Make Deal

Bruce Richards, co-founder of hedge fund firm Marathon Asset Management, said Greece and its creditors will work out a deal over the nation’s bailout program after talks remained at a deadlock this week.

“I don’t think they default to them because the last thing Germany and the EU wants is for Greece to default,” Richards said in an interview on the television program “Wall Street Week” that will be aired on Sunday, referring to the European Union. “The last thing they want is to take a $300 billion hit to their balance sheet. And the last thing they want is risk off for the market place.”

Greece’s prospects for reaching a deal with creditors are better than 50 percent and the final outcome won’t become clear until Saturday, a European Union official said. The nation has no mandate to sign a new austerity-attached bailout agreement, a government official said in e-mail to reporters.

Marathon, based in New York, oversaw $12.5 billion as of March 31.

“Wall Street Week” is produced by SkyBridge Media, an affiliate of SkyBridge Capital, the fund-of-funds business founded by Anthony Scaramucci. SkyBridge, which sometimes has other business relationships with the shows participants, advertisers and sponsors, pays Fox stations in key markets to broadcast the show and also streams it online every Sunday at 11 a.m. in New York.

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