Marc Lasry (30 September 1959) is a billionaire American hedge fund manager born in Morocco. He is co-founder and chief executive officer (CEO) of Avenue Capital Group and co-owner of the NBA Milwaukee Bucks.
Video Marc Lasry
Early life and education
Lasry was born in Marrakech to a Moroccan Jewish family. When he was seven years old, he and his family immigrated to the US. His father, Moise, was a computer programmer and his mother, Elise, was a school teacher. Lasry grew up in West Hartford, Connecticut and received a B.A. in the history of Clark University in 1981 and J.D. from New York Law School in 1984. While in law school, he worked as a clerk for Chief Justice of the Southern District Bankruptcy of New York, Edward Ryan.
Maps Marc Lasry
Careers
After graduating from law school, Lasry took a position at the bankruptcy branch of Angel & amp; Frankel. Together with his sister Sonia Gardner, they founded Amroc Investments in 1989 and Avenue Capital Group in 1995. One year later Lasry became director of the private debt department at investment firm R. D. Smith, now Smith Vasillou Management. This is where Lasry was first involved in a trade claim. He then took a position as Co-Director of the Department of Bankruptcy and Reorganization of the Company in Cowen & Company. There Lasry recruited his sister Sonia Gardner, also a lawyer, to assist in the company's trade claims department. Lasry leaves Cowen & amp; Company and joined the Robert M. Bass Group, focusing on depressed security investments.
In 1989, Lasry and his sister founded the Amroc Investments company with $ 100 million of seed money from various investors. Amroc buys both trade claims and bank debt held by the vendor of a bankrupt and/or depressed company. In 1995, Lasry and Gardner invested $ 7 million of their own capital and established Avenue Capital Group, which initially focused on depressed debt and special situations especially in the United States. The partners have successfully expanded the company's investment focus to Europe and Asia. The two continue to build up their hedge funds, which have as much as $ 11 billion in managed assets.
In 2013, Lasry is considered for the position of US ambassador to France, but refuses consideration for business reasons. In 2014 Forbes enrolled Lasry as one of the 25 highest-earning hedge fund managers in 2013, with total revenues of $ 280 million.
In April 2014, Lasry became co-owner of the NBA Milwaukee Bucks after purchasing a team from Herb Kohl for $ 550 million. After the 2016 US election, Lasry and the Milwaukee Bucks became one of three NBA teams to publicly state that they will not stay at a Trump-branded hotel when on the road.
Lasry is a member of Kappa Beta Phi.
Lasry is a big Democratic donor.
Philanthropy
In 2004, Lasry and his wife provided support to the University of Pennsylvania and led the Chairman of the Penn Parents Leadership Committee. In 2005, they donated $ 5 million to Clark University for the construction of "Cathy '83 and Marc '81 Lasry Center for Bioscience".
Lasry serves as director of 92 Y Street and Big Apple Circus and is the guardian of Mount Sinai Hospital (Manhattan). He is a leading donor to the cause of the Democratic Party.
In January 2016, Lasry participated in "Portfolios with Purpose," an annual stock selection contest in which participants choose a portfolio on behalf of their favorite charity.
Personal life
Lasry is married to Cathy Cohen and they have five children. Their son, Alexander, works for White House senior adviser Valerie Jarrett. Their daughter, Samantha, is a staff member for the congressman Rahm Emanuel.
Lasry hobbies include basketball, tennis and comics.
References
Source of the article : Wikipedia
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