Avenue Capital's Lasry will not be ambassador to France -source

NEW YORK, April 23 Tue Apr 23, 2013 3:40pm EDT

NEW YORK, April 23 (Reuters) - 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.

Lasry had been seen as likely to be nominated by President Barack Obama for position.

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