Marc Lasry

Marc Lasry
Birthplace	Marrakesh, Morocco
Nationality	Moroccan, American
Occupation	Private equity investor, hedge fund manager
Known for	Co-founder and CEO of Avenue Capital Group; co-owner of the Milwaukee Bucks (2014–2023)
Education	Clark University (BA) New York Law School (JD)
Spouse(s)	Cathy Cohen
Children	5, including Alex Lasry

Marc Lasry is a Moroccan-born American billionaire businessman, private equity investor, and hedge fund manager who co-founded and serves as chief executive officer of Avenue Capital Group, a global investment firm focused on distressed debt and special situations. Born in Marrakesh, Morocco, Lasry immigrated to the United States as a child and built one of the most prominent careers in distressed asset investing, with Avenue Capital growing to manage billions of dollars in assets across offices in New York, Europe, and Asia. From 2014 to 2023, he was a co-owner of the Milwaukee Bucks of the National Basketball Association (NBA), a period during which the franchise won the 2021 NBA Championship. A prominent figure in Democratic Party fundraising circles, Lasry has maintained close ties to multiple presidential administrations. In recent years, he has expanded his investment focus into the sports industry, launching the Avenue Sports Fund, which closed with over $1 billion in commitments in 2025. His career has spanned decades of activity in distressed debt markets in the United States, Europe, and China, and he has become increasingly recognized as a major figure in the growing intersection of private equity and professional sports.

Early Life

Marc Lasry was born in Marrakesh, Morocco, into a Sephardic Jewish family. His family later immigrated to the United States, where he was raised. Details of his early childhood in Morocco and the circumstances of his family's emigration have been discussed in various profiles. According to the book Alpha Masters, Lasry's Moroccan heritage and upbringing informed aspects of his personal identity and business outlook.

Lasry's sister, Sonia Gardner, would later become his business partner and co-founder of Avenue Capital Group. The Lasry family's trajectory from North Africa to the United States is representative of the broader Sephardic Jewish diaspora that settled in America during the latter half of the twentieth century.

Education

Lasry attended Clark University in Worcester, Massachusetts, where he earned a Bachelor of Arts degree. He subsequently enrolled at New York Law School, where he obtained his Juris Doctor (JD) degree. His legal education provided the foundation for his later career in distressed debt investing, a field that requires deep knowledge of bankruptcy law, creditor rights, and corporate restructuring.

Career

Early Career and Founding of Avenue Capital Group

After completing his law degree, Lasry worked in the legal and financial industries before turning his focus to distressed debt investing. In 1995, Lasry and his sister Sonia Gardner co-founded Avenue Capital Group, a global investment firm headquartered in New York City. The firm specializes in distressed securities and undervalued debt, focusing on identifying opportunities in companies undergoing financial stress, bankruptcy, or restructuring. Avenue Capital grew to manage billions of dollars in assets and established offices in multiple countries, including operations in Europe and Asia.

Distressed Debt Investing

Lasry became one of the best-known figures in the distressed debt investing world. His investment strategy centers on identifying undervalued or distressed assets that can generate returns as companies restructure or markets recover. This approach has taken Avenue Capital into markets across the globe.

In 2012, Lasry publicly articulated his view that Europe's financial difficulties presented significant investment opportunities. He described the potential for a "bankruptcy bonanza" as bad debts in the European banking system obscured underlying asset values, creating favorable conditions for distressed debt investors. The firm actively pursued distressed asset opportunities across Europe during the continent's sovereign debt crisis.

Lasry also directed Avenue Capital's attention to investment opportunities in China. In a 2021 interview with Forbes, he stated that it was "a great time to be investing in China," highlighting the firm's interest in the Chinese market despite increasing geopolitical tensions between the United States and China.

Lasry was listed among the highest-earning hedge fund managers and traders by Forbes in 2014, reflecting his stature in the industry.

Avenue Capital's investment activity has also extended to Puerto Rico's debt crisis. Lasry and the firm held positions in Puerto Rican bonds, a subject that attracted scrutiny given his political connections. The Nation reported on questions about whether Lasry's role as an Obama donor and his firm's holdings in Puerto Rican debt created potential conflicts of interest regarding the federal government's approach to the island's fiscal crisis.

Milwaukee Bucks Ownership (2014–2023)

In May 2014, Lasry and fellow investor Wes Edens purchased the Milwaukee Bucks of the NBA. The sale was announced by the league as part of a broader effort to stabilize the franchise and keep it in Milwaukee. Under the ownership group that included Lasry and Edens, the Bucks underwent a significant transformation, including the construction of Fiserv Forum and the franchise's victory in the 2021 NBA Finals, its first championship in 50 years.

In 2023, Lasry sold his minority stake in the Bucks to Jimmy and Dee Haslam, owners of the Cleveland Browns, in a deal reportedly valued at approximately $875 million. Lasry later described his experience with the Bucks as formative in shaping his broader interest in sports as an investment category, stating that "sports seems to transcend all the rules of how we operate."

Avenue Sports Fund and Sports Investments

Following his exit from the Milwaukee Bucks, Lasry increasingly pivoted his investment activities toward the sports industry. Avenue Capital launched the Avenue Sports Fund, which closed in September 2025 with over $1 billion in commitments. Since its launch, the fund has made investments across sports leagues and franchises in both North America and Europe.

In October 2025, Lasry said in an appearance on Bloomberg Television that sports investing was "only in the first inning," indicating his view that private equity's role in professional sports was still in its early stages and that significant opportunities remained.

In July 2025, reports emerged that Lasry was exploring a bid to purchase the Connecticut Sun of the Women's National Basketball Association (WNBA). In September 2025, Lasry spoke publicly about the potential acquisition alongside University of Connecticut women's basketball coach Geno Auriemma, noting interest in potentially relocating the team to Hartford, Connecticut, but acknowledging logistical challenges, stating, "I don't think that's going to work."

In December 2025, the Avenue Sports Fund made its first major investment in Minor League Baseball, agreeing to purchase two minor league teams through a newly established business entity. The move signaled the fund's willingness to invest across multiple levels and types of professional sports, not only in major league franchises.

Other Business Activities

Lasry has served on the board of directors of the Trump Entertainment Resorts, a position reflecting his connections across the business world.

In 2021, Lasry served as chairman of the board of Ozy Media, the digital media company founded by Carlos Watson. He resigned from the position in September 2021 following revelations that an Ozy executive had impersonated a Goldman Sachs employee during an investor call, a scandal that led to the company's eventual collapse.

Political Activities and Connections

Lasry has been a prominent fundraiser and donor for the Democratic Party. He has maintained close relationships with multiple Democratic leaders, including former President Barack Obama and former President Bill Clinton. The New York Post reported in 2013 on Lasry's close ties to both the Obama and Clinton political circles, noting his involvement in diplomatic discussions and political fundraising.

In 2020, as a supporter of Joe Biden's presidential campaign, Lasry commented on the potential market implications of the election. He told CNBC that a Democratic sweep in the election "would be bad for stocks," a notable statement from a prominent Democratic donor.

Personal Life

Marc Lasry is married to Cathy Cohen. The couple have five children, including Alex Lasry, who gained public attention by running for the United States Senate in Wisconsin in 2022. Alex Lasry, who had served as a senior vice president of the Milwaukee Bucks, announced his candidacy in February 2021.

Lasry's sister, Sonia Gardner, is the co-founder and president of Avenue Capital Group, making the firm a family enterprise at its core.

In October 2025, Lasry listed his penthouse at 55 Central Park West in New York City for $42 million. The building, known for its Art Deco architecture, achieved cultural fame through its appearance in the 1984 film Ghostbusters.

Recognition

Lasry has been recognized as one of the most prominent figures in the distressed debt investing industry. He was included in Forbes list of the highest-earning hedge fund managers and traders in 2014. His status as a billionaire has been documented in multiple financial publications over the years. CNBC has featured Lasry in multiple segments and interviews discussing global investment strategy and market conditions.

His co-ownership of the Milwaukee Bucks during the team's championship season in 2021 further raised his public profile beyond the financial industry. As the team won its first NBA title in five decades, Lasry became associated with one of the more successful franchise turnarounds in recent NBA history.

The launch of the Avenue Sports Fund and its rapid accumulation of over $1 billion in commitments was covered extensively in financial and sports media in 2025, positioning Lasry as one of the most prominent private equity figures entering the sports investment space.

Legacy

Marc Lasry's career spans the evolution of distressed debt investing from a niche strategy to a mainstream component of global finance. Avenue Capital Group, which he co-founded with his sister Sonia Gardner in 1995, became one of the major players in the distressed debt space, operating across the United States, Europe, and Asia. The firm's willingness to invest in complex situations — from European sovereign debt crises to Puerto Rican bonds to Chinese markets — reflects Lasry's global approach to identifying undervalued assets.

His ownership of the Milwaukee Bucks from 2014 to 2023 coincided with a transformative period for the franchise, culminating in an NBA championship. The subsequent sale of his stake at a substantial profit and his pivot to dedicated sports investing through the Avenue Sports Fund illustrate a broader trend of financial industry leaders increasingly viewing professional sports franchises as attractive investment vehicles. Lasry's characterization of sports investing as being "only in the first inning" has been cited in coverage of the growing convergence of private equity and professional sports.

His family's involvement in both business and public life — including his sister's role at Avenue Capital and his son Alex Lasry's Senate campaign — reflects the growing intersection of finance, sports, and politics among prominent American business families.