Marc Lasry
| Marc Lasry | |
|---|---|
| Born | 1960/1961 (age 50–51)[1] Morocco (raised in West Hartford, Connecticut) |
| Residence | New York, New York |
| Nationality | American |
| Education | Clark University New York Law School |
| Occupation | Private equity investor, Hedge fund manager |
| Known for | Founder of Avenue Capital Group |
| Net worth |  US $ 1.4 billion (est.)(February 2010)[1] |
| Spouse | Married, Cathy Lasry, 5 children |
Marc Lasry is an American billionaire[1] hedge fund manager and co-founder and chief executive officer of hedge fund Avenue Capital Group.
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[edit] Career
Lasry began his career investing in distressed securities in the late 1980s. Prior to that, Mr. Lasry was Co-Director of the Bankruptcy and Corporate Reorganization Department at Cowen and Company. Prior to that time, he served as Director of the Private Debt Department at Smith Vasiliou Management Company.
Lasry was approached by Robert M. Bass, to manage a pool of capital focused on distressed investments. With sister Sonia Gardner, Lasry founded distressed debt brokerage Amroc Investments in 1989.
In 1995, Lasry and Gardner struck out on their own with $7 million of capital to found Avenue Capital Group. The siblings would build the hedge fund to well over $20 billion in assets.
Lasry clerked for the Honorable Edward Ryan, former Chief Bankruptcy Judge of the Southern District of New York.
[edit] Other affiliations
Lasry has served as a director of the 92nd Street Y and the Big Apple Circus and as a trustee of the Mount Sinai Medical Center. Lasry is a prominent donor to Democratic Party causes.[2]
[edit] Early background
Lasry, who was born in Morocco, grew up in West Hartford, Connecticut with his other sister, Ruth and his parents, Moise and Elise Lasry. He received a B.A. in history from Clark University in 1981 and a J.D. from New York Law School in 1984.
[edit] Notes
- ^ a b c "The World's Billionaires: #721 Marc Lasry". Forbes. March 3, 2010. http://www.forbes.com/lists/2010/10/billionaires-2010_Marc-Lasry_QF8E.html.
- ^ Spector, Mike (MARCH 27, 2010). "Avenue Capital's Investor in Chief". The Wall Street Journal. http://online.wsj.com/article/SB10001424052748703416204575145924237322674.html?mod=WSJ_Markets_section_Deals. Retrieved 28 March 2010.
[edit] References
- A World Where Down Means Up. New York Times, August 19, 2005
- Bank Buys Into Fund. Reuters, October 31, 2006
- Avenue Capital’s Marc Lasry Is In Therapy Over Depressed Asset Prices. The Deal Sleuth
- Avenue Capital's Marc Lasry: Hedge Fund Shakeout Will Continue. Seeking Alpha, February 22, 2009
- Lasry Thinking Big For New Avenue Fund. HedgeFund.net, February 12, 2010
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