Wharton Hedge Fund Network: Avenue Capital, Marc Lasry

Marc Lasry
Founder and Managing Partner
Avenue Capital Group

Mr. Lasry is a Founder and Managing Partner of Avenue Capital Group (http://www.avenuecapital.com/), and is also a founder of Amroc Investments, LLC ("Amroc") and Amroc Investments Asia, Ltd. ("Amroc Asia")*. Distressed investing has been the focus of his professional career for over 22 years.

Prior to operating Amroc as an independent entity, Mr. Lasry managed capital for Amroc Investments, L.P. Mr. Lasry and Amroc Investments, L.P. were affiliated with Acadia Partners L.P., an investment partnership whose general partners include Keystone, Inc. (an investment partnership firm that was associated with the Robert M. Bass Group, Inc.), American Express Company and the Equitable Life Assurance Society of America. Prior to that, Mr. Lasry was Co-Director of the Bankruptcy and Corporate Reorganization Department at Cowen & Company. Prior to that time, he served as Director of the Private Debt Department at Smith Vasiliou Management Company. Mr. Lasry also clerked for the Honorable Edward Ryan, former Chief Bankruptcy Judge of the Southern District of New York. Mr. Lasry graduated with a B.A. in History from Clark University (1981) and received a J.D. from New York Law School (1984).

Formed in 1995, Avenue Capital Group primarily focuses on distressed and undervalued credit-related securities (both public and private), bank loans, trade claims and private investments (debt and equities). Headquartered in New York, with offices in London, Luxembourg, and eight offices throughout Asia, the firm manages assets valued at approximately $13.3 billion as of February 28, 2007. Avenue draws on the skills and experience of more than 265 employees and its Partners, Marc Lasry and Sonia E. Gardner, who have spent virtually their entire careers in the field of distressed investments.

*In 2003, the entire ownership of Amroc Investments Asia, Ltd. was transferred to the Amroc Asia management team which is based in Asia and has offices in Hong Kong. Mr. Lasry and Ms. Gardner do not have any interest in Amroc Investments Asia, Ltd.

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