Avenue Capital founder Marc Lasry is willing to leave his hedge
fund's New York confines for Paris, if reports are to be
Lasry has been lobbying to be appointed as the U.S.
ambassador to France, The New York Times reported
recently, adding credence to a month-ago report in Bloomberg News. Contacted by
Absolute Return, Lasry declined to
If he gets the gig, it will likely be seen as a big
thank you gift from
President Barack Obama for Lasry's support over the past four
years. An early Hillary Clinton donor leading up to the 2008
election, Lasry reversed course and doubled down in 2012 by
becoming a so-called bundler of more than $500,000 in donations
for Obama and even hosting at least two fundraiser dinners for
(Lasry also famously hired Chelsea Clinton in 2006 as an Avenue
associate; she later repaid the favor by resigning and telling the national media she "didn't get any
meaning from it.")
A post across the pond would be an interesting
business move for Lasry, who last year raised $2.8 billion for
a fund betting on the rebound of European distressed assets. In
May 2012, he recommended investing in European credits. "It's a
great opportunity," he said. "I would be a big buyer of Europe
if you can."
If things go his way, he may have many more
opportunities to spend his money in Europe.