Early Life and Education
Born in Marrakesh, Morocco, in 1959, Marc Lasry immigrated to the United States at a young age. He grew up in West Hartford, Connecticut, and pursued higher education, earning a Bachelor of Arts degree in history from Clark University in 1981. Lasry furthered his education at New York Law School, where he obtained his Juris Doctor degree in 1984. During law school, he gained valuable experience as a clerk for the Chief Bankruptcy Judge of the Southern District of New York, Edward Ryan, which would later influence his career path.
Rise to Success
After graduating from law school, Lasry embarked on his career in finance. He honed his skills in bankruptcy law before venturing into the world of distressed investing. In 1989, alongside his sister Sonia Gardner, Lasry founded Amroc Investments. Later, in 1995, they co-founded Avenue Capital Group with a focus on distressed debt and special situations. Under Lasry's leadership, Avenue Capital Group became a prominent player in global markets. The firm has been known for its focus on identifying struggling companies with potential for recovery, making Avenue Capital a leader in distressed investing.
Key Business Strategies
Lasry's investment approach centers around identifying struggling companies with strong recovery potential. Avenue Capital Group's strategy involves rigorous analysis of both the industry and the individual company. They employ a top-down/bottom-up approach to find undervalued opportunities, focusing on non-operational control investments in troubled businesses. This approach allows flexibility and a focus on pre-investment research and analysis. Lasry has consistently displayed a knack for turning financial crises into profitable ventures, successfully navigating the complexities of corporate debt restructuring and investing in struggling entities.
Philanthropy
Lasry has been involved in various philanthropic endeavors. He and his wife, Cathy Cohen, contributed to the University of Pennsylvania and co-chaired the Penn Parent Leadership Committee. In 2005, they donated $5 million to Clark University for the construction of the Cathy '83 and Marc '81 Lasry Center for Bioscience. Lasry has also served as a director of the 92nd Street Y and the Big Apple Circus, and was a trustee of the Mount Sinai Hospital in Manhattan.
