Marc Lasry

Marc Lasry received a JD from New York Law School and worked at law firms including Cowen & Company before co-founding Avenue Capital Group in 1995 with his sister Sonia Gardner. Avenue Capital specialises in purchasing the distressed debt of companies that are in or approaching bankruptcy — buying bonds, loans, and other claims at significant discounts to face value, with the strategy of profiting as the company restructures and the debt trades up, or by converting debt to equity through the restructuring process. The fund has been particularly successful in both US and European distressed debt markets and has expanded into emerging market credit. Avenue Capital has managed over $10 billion in assets and has built a reputation for rigorous legal and financial analysis of complex bankruptcy situations. Lasry is known for building a team of lawyers, bankers, and analysts with complementary skills in navigating the complex legal framework of US and European insolvency processes. He is also known as a co-owner of the Milwaukee Bucks NBA franchise, which he purchased in 2014. The Bucks won the NBA Championship in 2021, making Lasry one of the relatively few hedge fund managers to experience championship success in a major professional sports ownership.