limited liability company industry private equity distressed securities founded 1995 founder marc lasry sonia gardner headquarters 399 park avenue new york city new york u.s. products private equity funds hedge funds total assets 14.1 billion 1 number of employees 220 website www.avenuecapital.com avenue capital group is a global 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 12 billion . 3 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 . 4 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 . 5 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 . 6 bloomberg reported that as of february 28 2010 avenue capital group is the 13th largest hedge fund in the world . 7 contents 1 history 2 ownership 3 corporate responsibility 4 references 5 external links history edit avenue capital group was founded in 1995 by siblings marc lasry and sonia gardner . the two founders had previously founded amroc investments in 1989 as a 100 million distressed debt investment fund organized in association with the robert m. bass group . in 1995 mr. lasry and ms. gardner started their first avenue fund avenue investments with less than 10 million . this onshore fund has grown to 509 million as of december 31 2012 . in 1997 mr. lasry and ms. gardner formed their second avenue fund called avenue international . this offshore fund attracts u.s. tax exempt and non u.s. investors . as of december 31 2012 avenue international has 1 461 million in assets under management . 8 in 2012 the firm was featured in maneet ahuja s book the alpha masters unlocking the genius of the world s top hedge funds . 9 in february 2016 marc lasry explained on cnbc that avenue capital was taking advantage of the opportunity to purchase loans from european banks at a discount . as lasry said most banks are being forced by the european central bank to sell loans and therefore we re able to buy those loans at a great discount . the ecb will likely continue to put pressure on these banks to clean up their balance sheet . 10 since its inception in 1995 avenue has raised 14 private equity style investment funds across its three principal regions us europe and asia to invest in distressed securities and real estate united states 1998 avenue special situations i 133 million 2001 avenue special situations ii 520 million 2003 avenue special situations iii 628 million 2006 avenue special situations iv 1.68 billion 2007 avenue real estate fund 166 million 2007 avenue special situations v 6.0 billion 2011 avenue special situations fund vi 1.9 billion 11 2014 avenue energy opportunities fund 1.3 billion 12 asia 2001 avenue asia capital partners 126 million 2001 avenue asia special situations ii 275 million 2003 avenue asia special situations iii 628 million 2006 avenue asia special situations fund iv 3.0 billion europe 2008 avenue europe special situations fund 1.5 billion 2012 avenue europe special situations fund ii 2.78 billion 13 avenue launched its asian focused distressed business in 1999 . 14 in 2004 avenue launched its european focused distressed business with rich furst as the senior portfolio manager . while building distressed debt the european branch of the firm also writes loans for small companies that are unable to obtain financing . 15 ownership edit in october 2006 morgan stanley bought a non controlling 15 % stake in the firm . marc lasry and sonia gardner invested 100 % of the proceeds they received from morgan stanley back into the avenue funds . 16 corporate responsibility edit in 2014 avenue capital group raised over 68 000 for herjustice a new york based organisation devoted to ending domestic violence . 17 avenue capital group served as a sponsor in 2010 and 2011 and in july 2012 avenue s president sonia gardner hosted a breakfast on inmotion s behalf to encourage other firms to participate . 18 not in citation given ms gardner was again honored in 2014 at the annual photography auction & benefit for her justice . 19 in january 2016 marc lasry participated in portfolios with purpose in which participants compete on behalf of their favorite charities . 20 references edit https www.avenuecapital.com firm.aspx griffiths tony october 6 2010 . the hfmweek 50 most influential people in hedge funds . hfmweek . retrieved 5 august 2011 . alden william february 4 2013 . avenue capital prepares new fund for europe . new york times . retrieved 7 february 2013 . 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 . ahuja maneet . the alpha masters unlocking the genius of the world s top hedge funds . hoboken n.j. wiley . p. 83 . isbn 1118065522 . benner katie . 5 hedge fund stars 5 perspectives . cnn money . retrieved 12 february 2013 . mody seema 3 february 2016 . avenue capital s marc lasry we like european bank loans . cnbc . retrieved 10 february 2016 . avenue special situations fund vi l.p. pdf . private debt fund commitment . retrieved 21 february 2013 . herbst bayliss svea 4 may 2015 . exclusive avenue capital raises money for new energy fund source . reuters . retrieved 12 august 2015 . willmer sabrina . avenue said to raise 2.8 billion for distressed fund . bloomberg . retrieved 21 february 2013 . summary of project information . international finance corporation . world bank group . porter kiel . avenue capital starts direct lending in europe . financial news . retrieved 21 february 2013 . morgan stanley investment management forms strategic alliance with avenue capital group . morgan stanley . 30 october 2006 . retrieved 8 february 2013 . http storybystory.kintera.org faf search searchteam.asp ievent 1110871 & lis 1 commitment to justice awards . inmotion . retrieved 7 february 2013 . http www.herjustice.org content view 446 645 sinclair nicole 7 january 2016 . hedge fund manager marc lasry positive on energy clinton and charity . retrieved 10 february 2016 . external links edit avenue capital group company website a world where down means up v 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