Avenue Capital Group

Avenue Capital Group is an American investment firm focusing on distressed securities^[2] and private equity with regional teams focusing on opportunities in the United States, Europe and Asia. The firm operates as both a private equity firm and as a hedge fund. Avenue’s core strategy is focused on distressed debt and equity securities although the firm also manages investment funds that focus on long-short opportunities, real estate, and collateralized debt obligations. The firm manages assets valued at approximately $20 billion^[1]. The firm was founded by former professionals of Amroc Investments, an affiliate of the Robert M. Bass Group.

The firm is headquartered in New York City, with offices in London, Luxembourg, Munich, and in cities throughout Asia. Avenue has approximately 350 employees across its 13 offices worldwide.

In the fall of 2006, Chelsea Clinton, daughter of former president Bill Clinton, joined the firm shortly after leaving McKinsey & Company, a management consultancy. However, she has since left the firm and returned to graduate school.

Bloomberg reported that as of Feb. 28, 2010, Avenue Capital Group is the 13th largest hedge fund in the world. ^[3]

History

Avenue Capital Group was founded in 1995 by Marc Lasry and Sonia Gardner. The two founders had previously founded Amroc Investments in 1989 as a $100 million distressed debt investment fund organized in association with the Robert M. Bass Group.

Since its inception in 1995, Avenue has raised 11 private equity style investment funds across its three principal regions (US, Europe and Asia) to invest in distressed securities and real estate:

References

External links

• Avenue Capital Group (company website)