Marc Lasry

Marc Lasry
Marc Lasry (bloomberg.com)

Marc Lasry is the Co-Founder and CEO of Avenue Capital Group. Lasry was born in Marrakech, Morocco but when he turned seven he and his family moved to West Hartford, Connecticut. Marc attended Clark University in Worcester, Massachusetts and received his Bachelor of Arts in History. Lasry then enrolled at New York Law School and received his Juris Doctor in 1984.

His first job following law school was in the bankruptcy branch of the law firm Angel & Frankel. Lasry first got involved with trade claims when he was named director of of the private debt department at R.D. Smith, an investment firm that now goes by Smith Vasillou Management. Following his time with R.D. Smith, Lasry then became Co-Director of the Bankruptcy and Corporate Reorganization Department at Cowen & Company. Marc brought his sister Sonia Gardner onboard to help in the trade claims department. Marc shifted focus to distressed security investments when he joined Robert M. Bass Group.

Shortly after, Marc and Sonia founded Amroc Investments with $100 million in seed money from different investors. Amroc purchased bank debt and trade claims held by vendors of bankrupt and/or distressed companies. In 1995, Avenue Capital Group was founded by Marc and his sister with a $7 million investment from themselves. The group initially focused on distressed debt and special circumstances within the United States but the group soon expanded its reach to Europe and Asia. The group has managed as high as $11 billion in assets.

For his work during 2013, Forbes listed Marc as one of the top 25 earning hedge fund managers in 2014. Marc’s success has allowed him to invest in the NBA, specifically the Milwaukee Bucks. Lasry became a co-owner of the team in 2014 when he and Wes Edens purchased the team from Herb Kohl for $550 million.

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