Marc Lasry – Avenues of Opportunity (Capital Allocators, EP.315)

<p><span style="color: #333333;">Marc is the Chairman, CEO, and Co-founder of Avenue Capital Group, a global investment firm focused on distressed debt that he founded in 1995 with his sister, Sonia Gardner. Almost thirty years later, Avenue manages $12 billion in assets.<br /> <br /> Our conversation covers Marc’s background and path to investing, the early days in distressed, inflection points in Avenue’s history, including the decision to return half the capital in 2011 and to sell a minority stake to Morgan Stanley, and owning a stake in the Milwaukee Bucks NBA franchise over the last decade. We then turn to the investment environment, attractiveness across geographic regions, creating a competitive advantage, and opportunities in distressed lending, sports, and Asia. We close discussing Marc’s involvement in politics and lessons from chess and poker.<br /> <br /> <strong>Show Notes</strong><br /> 04:51    Mark’s background<br /> 08:21    Launching Avenue Capital<br /> 09:08    Inflection points<br /> 16:29    GFC<br /> 21:14    Selling a stake in Avenue<br /> 25:05    Important milestones<br /> 29:57    Buying and Exiting the Milwaukee Bucks<br /> 32:42    Avenue’s path forward<br /> 37:34    Deploying capital in different geographies<br /> 41:11    Strengths and weaknesses of private credit<br /> 42:06    Finding opportunities<br /> 48:15    Valuations in sports investing<br /> 50:49    Navigating investing in Asia<br /> 51:28    Involvement in US politics<br /> 52:09    Chess, poker, and investing<br /> 53:10    Closing questions</span></p> <p> </p> <div> <p><strong>Learn More</strong>​</p> </div> <div> <p>Follow Ted on Twitter at <a title= "https://twitter.com/tseides?lang=en" href= "https://twitter.com/tseides?lang=en">@tseides</a> or <a title="https://www.linkedin.com/in/tedseides/" href="https://www.linkedin.com/in/tedseides/">LinkedIn</a>​</p> </div> <div> <p>Subscribe to the <a title="https://capitalallocators.com/" href="https://capitalallocators.com/">mailing list</a>​</p> </div> <div> <p>Access Tr