Avenue To Launch $3 Billion Distressed-Debt Hedge Fund

Feb 12 2010 | 5:44am ET

While a lot of hedge fund firms are rushing to close their distressed debt funds, Avenue Capital Group is launching one.

The New York-based firm, which has about $18.5 billion in assets, is currently fundraising for the new vehicle. Avenue Capital founder Marc LasryAvenue Capital founder Marc LasryAvenue expects to raise about $3 billion for the fund, Bloomberg News reports. Fundraising is expected to be finished within three months.

Avenue’s move is counter the recent trend: BlueMountain Capital Management, Highland Capital Management and Silverback Asset Management have all begun unwinding distressed debt funds over the last few months.


In Depth

Q&A: Omni Macro Fund Bullish On India, Watching China

Mar 4 2015 | 3:35pm ET

Omni Macro Fund was formed in 2007 by Stephen Rosen, previously a prop trader at...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk Management: The Due Diligence Challenge And Branding Opportunity

Mar 2 2015 | 8:41am ET

The hedge fund firms that make it easier for prospective investors to gain comfort...

 

Editor's Note