Avenue Capital Group is a global investment company focused on depressed securities and private equity with regional teams focusing on opportunities in the United States, Europe and Asia. The Company operates as both a private equity firm and as a hedge fund. Avenue's core strategy is focused on depressed debt and equity securities even though the company also manages investment funds that focus on short-term opportunities, real estate, and guaranteed debt obligations. The company manages assets worth about $ 12 billion. The company was founded by former professional Amroc Investments, an affiliate of the Robert M. Bass Group.
The company is headquartered in New York City, with offices in London, Luxembourg, Munich, Beijing, Hong Kong, New Delhi and Singapore. The Company has established an institutional-quality infrastructure in terms of accounting, legal compliance, investor relations, and information technology capabilities. Avenue has about 220 employees in 8 offices around the world.
Avenue investment professionals are looking for "good companies with bad balance" - firms with sustainable business and positive cash flow but their financial situation is disrupted. The investment team used Avenue's top-down/bottom-up approach to find less-valued opportunities and typically seek to invest non-operating controls in troubled businesses. It provides a maximum trading flexibility strategy and allows Avenue investment professionals to focus on pre-investment research and analysis rather than post-investment operation issues.
From 2006 to 2009, Chelsea Clinton, daughter of former US President Bill Clinton and former Secretary of State Hillary Clinton, worked as a partner at Avenue Capital Group LLC.
Bloomberg reported that on February 28, 2010, Avenue Capital Group is the 13th largest hedge fund in the world.
Video Avenue Capital Group
History
Avenue Capital Group was founded in 1995 by siblings Marc Lasry and Sonia Gardner. The two previous founders established Amroc Investments in 1989 as a $ 100 million problematic investment fund held in association with Robert M. Bass Group.
In 1995, Mr. Lasry and Ms. Gardner started their first Avenue fund, Avenue Investments, for less than $ 10 million. The land fund has grown to $ 509 million as of December 31, 2012.
In 1997, Mr. Lasry and Ms. Gardner formed their second Avenue fund named Avenue International. This overseas fund attracts US tax exemptions and non-US investors. As of December 31, 2012, Avenue International has $ 1,461 million in managed assets.
In 2012, the Company is featured in Maneet Ahuja's book The Alpha Masters: Unlocking the World's Top Genius Fund Hedge Fund.
In February, 2016 Marc Lasry explained on CNBC that Avenue Capital took advantage of the opportunity to buy a loan from European Bank at a discount. As Lasry puts it: "Most banks are forced by the European Central Bank to sell loans and therefore we can buy the loans at great discounts." The ECB is likely to continue pressuring these banks to clear their balance sheets. "
Since its establishment in 1995, Avenue has raised 14 private equity-style investment funds in its three major regions (US, Europe and Asia) to invest in depressed securities and real estate:
Avenue launched Asia's distressed business focusing in 1999. In 2004, Avenue launched a European-focused troubled business with Rich Furst as senior portfolio manager. When building depressed debt, the European branch of the company also wrote loans for small companies that could not get financing.
Maps Avenue Capital Group
Ownership
In October 2006, Morgan Stanley bought 15% of non-controlling shares in the company. Marc Lasry and Sonia Gardner invested 100% of the proceeds they received from Morgan Stanley back to Avenue funds.
Corporate responsibility
In 2014, Avenue Capital Group raised more than $ 68,000 to HerJustice, a New York-based organization aimed at ending domestic violence. Avenue Capital Group served as a sponsor in 2010 and 2011 and, in July 2012, President Avenue, Sonia Gardner, organized breakfast on behalf of InMotion to encourage other companies to participate. Ms. Gardner is once again honored in 2014 at Annual Photography Auction & amp; Benefits for Justice.
In January 2016 Marc Lasry participated in "Portfolios with Purpose," in which the participants competed on behalf of their favorite charity.
In April 2018, the company reportedly will launch a $ 500 million fund focused on impact investments.
References
External links
- Avenue Capital Group (company website)
- The World Where It Dropped Means
Source of the article : Wikipedia
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