 | |
| Company type | Limited liability company |
|---|---|
| Industry | Private Equity, Distressed securities |
| Founded | 1995 |
| Founder | Marc Lasry, Sonia Gardner |
| Headquarters | 399 Park Avenue, , U.S. |
Area served | Worldwide |
| Products | Private equity funds, Hedge funds |
| AUM | $12.6 billion (October 2022)[1] |
Number of employees | 220 |
| Website | avenuecapital |
Avenue Capital Group is an American multinational investment firm focusing on distressed securities[2] and private equity with regional teams focusing on opportunities in the United States, Europe and Asia. The firm operates as both a private equity firm and as a hedge fund. Avenue's core strategy is focused on distressed debt and equity securities although the firm also manages investment funds that focus on long-short opportunities, real estate, and collateralized debt obligations. The firm manages assets valued at approximately $9.5 billion.[1] The firm was founded by former professionals of Amroc Investments, an affiliate of the Robert M. Bass Group.
The firm is headquartered in New York City, with offices in London, Luxembourg, Munich, Beijing, Hong Kong, New Delhi and Singapore. The firm has established an institutional-quality infrastructure in terms of accounting, compliance legal, investor relations, and information technology capabilities.[3] Avenue has approximately 220 employees across its 8 offices worldwide.
Avenue's investment professionals seek "good companies with bad balance sheets" — firms with sustainable businesses and positive cash flow but whose financial situation is distressed. The investment team uses Avenue's top-down/bottom-up approach to find undervalued opportunities and typically seeks to make non-operational control investments in troubled businesses. This provides the strategy maximum trading flexibility and allows Avenue's investment professionals to focus on pre-investment research and analysis rather than post-investment operating issues.[4]
From 2006 to 2009, Chelsea Clinton, daughter of former President of the United States Bill Clinton and former Secretary of State Hillary Clinton, worked as an associate at Avenue Capital Group LLC.[5]
Bloomberg reported that as of February 28, 2010, Avenue Capital Group is the 13th largest hedge fund in the world.[6]
- ^ a b "Avenue Capital Group".
- ^ Griffiths, Tony (October 6, 2010). "The HFMWeek 50 most influential people in hedge funds". HFMWeek. Archived from the original on 9 October 2010. Retrieved 5 August 2011.
- ^ Ahuja, Maneet. The Alpha Masters : unlocking the genius of the world's top hedge funds. Hoboken, N.J: Wiley. p. 84. ISBN 1118167597.
- ^ "Avenue Capital Group Strategy". Retrieved 21 February 2013.
- ^ "Chelsea Clinton Exited Wall Street to Seek Career With Meaning". Bloomberg. 3 October 2012. Retrieved 24 May 2014.
"Intellectually, I loved my job, but I didn't get any meaning from it," says Clinton, 32, who worked from 2006 to 2009 as an associate at Avenue Capital Group LLC, a New York-based hedge fund firm.
- ^ Burton, Katherine. "Paulson's $32 Billion Funds Prompt Too-Big Concerns". Bloomberg News. Retrieved 29 March 2010.