Marc Lasry’s Avenue Capital, in a filing with the Securities and Exchange Commission, disclosed that it owns 4.98 million common stock shares of Boulevard Acquisition Corp. (NASDAQ:BLVDU). Mr. Lasry is chairman of the board of the company.
Boulevard Acquisition Corp. (NASDAQ:BLVDU) is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company plans to raise $175 million by offering 17.50 million shares at a price of $10 apiece. Previously, the company planned to offer 15 million shares.
Stephen S. Trevor, president, chief executive officer (CEO) and secretary of Boulevard Acquisition Corp. (NASDAQ:BLVDU), has nearly 20 years of private equity investing experience. Since February 2012, Mr. Trevor has been a portfolio manager of Avenue Capital. He is focused on private debt, private equity and distressed for control investments. Prior to joining Avenue in 2012, Mr. Trevor was a managing director at Morgan Stanley, a member of the firm’s management committee and global co-head of the Firm’s merchant banking division and private equity group.
Avenue Capital Group is a New York -based multi-strategy hedge fund founded by Marc Lasry and Sonia E. Gardner. The fund focuses on distressed and undervalued debt and equity opportunities in the U.S., Asia and Europe.
At the end of the third quarter of 2013, in the equity portfolio of Avenue Capital, MGIC Investment Corp. (NYSE:MTG) represents the largest position with 106.78 million shares and a value of $134.91 million. Dynegy Inc. (NYSE:DYN) is the second big position in which the fund holds 4.88 million shares, with a reported value of $94.35 million.