Capital Allocators – Inside the Institutional Investment Industry Marc Lasry – Avenues of Opportunity (Capital Allocators, EP.315)
May 15, 2023
In this conversation, Marc Lasry, Chairman and CEO of Avenue Capital Group and part-owner of the Milwaukee Bucks, shares his remarkable journey from Morocco to the world of distressed debt investing. He delves into pivotal moments in Avenue's history, including strategic decisions in tumultuous times. Lasry discusses the shifting landscape of private credit, geographical investment nuances, and the thrill of opportunities in sports and real estate. The talk wraps up with insights on political involvement and how chess and poker inform strategic thinking.
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Family Background
- Marc Lasry's family moved from Marrakech to Paris, then to Hartford, Connecticut.
- They lived modestly, emphasizing education and family closeness.
Path to Law School
- Lasry considered skipping law school for a UPS management career.
- His mother insisted he pursue law, shaping his future path.
Early Distressed Debt Experience
- Lasry's interest in distressed debt was sparked by observing claim purchases in the Lionel Trains bankruptcy.
- This led him to work at R.D. Smith, focusing on the investment side.