Marc Lasry is not leaving for Paris after all.
There had been speculation for months that the $11.5 billion
Avenue Capital co-founder would be nominated by the White House
to be the next U.S. Ambassador to France. Bill Clinton
seemed to confirm the appointment in March and the firm
made personnel changes soon thereafter. Now, Lasry has said
he will be staying at Avenue, according to a letter sent to
investors today that was obtained by Absolute Return.
The news was first reported by
Dear Avenue Capital Investors,
I am writing to provide clarity with respect to the
recent speculation in the media regarding the possibility
that I might be asked to serve as the next U.S. Ambassador to
France. I am very grateful to have been considered, but I
would like to put the speculation to rest and let you know
that I will be remaining at Avenue.
I look forward to continuing to lead Avenue as
Chairman and CEO, alongside Sonia, and working with our team
of more than 200 talented professionals, which includes the
best and brightest Portfolio Managers and investment teams in
the business and a best-in-class institutional
infrastructure. Avenue is well positioned to continue to
protect and grow investors' assets, and I look forward to
continuing to invest alongside all of you.
As always, please feel free to reach out to me, or any
member of the Avenue team, if you have any
Chairman and Chief Executive Officer
An external spokesman for Avenue, Todd Fogarty of
public relations firm Kekst and Company, declined to
Bill Clinton: Marc Lasry shoe-in for
Ambassador to France |
Big redemptions unlikely if Avenue loses Lasry to Parisian