Early Life and Education
Born in Marrakesh, Morocco, Marc Lasry immigrated to the United States at age seven with his family. He grew up in West Hartford, Connecticut. Lasry received a B.A. in History from Clark University in 1981 and a J.D. from New York Law School in 1984. During law school, he clerked for the Chief Bankruptcy Judge of the Southern District of New York, an experience that influenced his future career path.
Rise to Success
After graduating from law school, Lasry started his career in bankruptcy law. He gained experience in corporate restructuring before transitioning to investing in distressed debt. In 1989, Lasry co-founded Amroc Investments with his sister, Sonia Gardner, focusing on distressed debt. In 1995, they founded Avenue Capital Group, which specialized in distressed securities in the United States and later expanded its investments to Europe and Asia. Lasry's expertise in this field has made him a successful hedge fund manager.
Key Business Strategies
Avenue Capital Group's core strategy focuses on distressed debt and equity opportunities. The firm identifies undervalued companies with strong recovery potential. This approach, along with his deep understanding of financial restructuring and bankruptcy, has been key to Lasry's success. Over the years, Avenue Capital Group has managed up to $13 billion in assets.
Philanthropy
Lasry has also been involved in philanthropy. In 2005, he and his wife contributed to Clark University, establishing the Cathy '83 and Marc '81 Lasry Center for Bioscience. He has served on the boards of various organizations, including the 92nd Street Y and Mount Sinai Hospital. Lasry also participated in the Portfolios with Purpose contest to select stock portfolios on behalf of charities.