US hedge fund billionaire to launch distressed debt IT

clock • 1 min read

US hedge fund billionaire Marc Lasry is planning to launch a distressed debt-focused investment trust for the UK market in September, Investment Week understands.

Lasry is expected to seed it with several hundred million dollars of his own money, while J.P. Morgan Cazenove is tipped to act as a broker. Lasry has been meeting investment trust buyers over the past six months to canvass support for the launch. While pricing remains unconfirmed, the hedge fund manager is thought to have initially suggested annual fees of 2% and a 20% performance fee. The firm Lasry co-founded, Avenue Capital, is a specialist in distressed debt strategies, and already runs one European debt strategy alongside other focused on the US and Asia. The group also ru...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: Navigating a new era for investing

Partner Insight: Navigating a new era for investing

Across the developed world, inflation is back and here to stay, says Wellington Management’s John Butler.

Sarka Halas
clock 13 March 2024 • 2 min read
Partner Insight: Should investors go global for more impact?

Partner Insight: Should investors go global for more impact?

Global investing offers scope for broader social impact as well as financial returns.

Sarka Halas
clock 11 March 2024 • 1 min read
Women in Investment Awards winner interview: Omotunde Lawal from Barings

Women in Investment Awards winner interview: Omotunde Lawal from Barings

Supporting the next generation

Katrina Lloyd
clock 07 March 2024 • 1 min read
Trustpilot