Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Marc Lasry’s Avenue Capital Raises $2.1 Billion for New Fund

AVENUE CAPITALMarc Lasry’s Avenue Capital is well on its way to securing the $2.5 billion wanted for its second European distressed debt private equity fund – Europe Special Situations Fund II.

“The firm has raised $2.1 billion for its Europe Special Situations Fund II as of its fourth closing, on Dec. 22,” reports FINAlternatives. “Avenue said the fund will seek to profit from opportunities stemming from Europe’s sovereign debt crisis and from the continent’s banks’ need to shed some of their huge debt holdings.”

Lasry’s new fund will be managed by the firm’s London team and will focus on northern European senior secured debt, equities or other distressed assets. It reportedly has a five-year term, but that could be extended to seven. Investors are required to ante up at least 10 million euro to invest in the fund.

Lasry’s first European distressed fund, Europe Special Situations Fund, was launched four years ago. At that point, it had just 1 billion euro in assets under management. Since then, the fund has had an 18.3% internal rate of return.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.