Amid a negative performance and a shift to funds with longer-term investor commitments, the distressed-investing firm Avenue Capital Group is closing its original hedge fund, Avenue Investments, and returning money to the fund's investors. The shutdown, which a person familiar with the matter said will involve selling off Avenue Investments' positions as soon as market conditions make it practical, is already underway. "Avenue has determined to wind down its U.S. hedge fund," said a spokesman for the company in an emailed statement. He noted that the vast majority of Avenue's capital in the...