Bill Clinton: Marc Lasry shoe-in for Ambassador to France

By Lawrence Delevingne

Thu Mar 14, 2013


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The Avenue co-founder's departure would likely not result in large redemptions.


 
  Avenue co-founders Sonia Gardner and Marc Lasry (Photo: Bloomberg)
Marc Lasry is likely to leave Avenue Capital for the American Embassy in Paris.

Former President Bill Clinton said that Lasry "got some good news" at an event Wednesday where he was told he would be nominated, according to a Politico report today.

The $12.2 billion distressed investment-focused firm has been quiet on the issue, preferring to wait for an official nomination by the White House before addressing the matter with clients. An external spokesman for Avenue, Todd Fogarty of public relations firm Kekst and Company, declined to comment on the new report.

Recent conversations with investors and a review of legal documents for Avenue's hedge and private equity funds shows that Lasry's potential departure is unlikely to shake up the firm or lead to large redemptions (See also: Big redemptions unlikely if Avenue loses Lasry to Parisian embassy).