Launches & Closures

Avenue raises $2.8bn for new Europe distressed fund


Marc Lasry
Avenue Capital, the $12.5 billion New York-based distressed investing firm led by Marc Lasry, has raised almost $3 billion for its second European special situations fund in a move that dramatically underlines the appetite among global investors to exploit opportunities in the crisis-torn European area.

The Avenue Europe Special Situations Fund II, which has a long-term locked-in capital structure, recently launched with investor capital of $2.78 billion and will focus on distressed debt investing opportunities in European companies.

The new fund is run by Rich Furst – a former European and US distressed