Billionaire investing legend and Milwaukee Bucks owner Marc Lasry said there could be $1 trillion in opportunities over the next year in distressed companies. Here’s where he sees the biggest gains.
- Distressed-debt investors have been aggressively raising money since the effects of the pandemic on the global economy became clear in the spring.
- The equity markets’ bounce back has not taken away opportunities, according to legendary distressed investor Marc Lasry.
- Lasry, the owner of the Milwaukee Bucks and a big fundraiser for Joe Biden, said on a webinar last week he expects to see between $500 billion to $1 trillion in opportunities worldwide over the next year.
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Distressed-debt investors have been waiting for a recession after more than a decade of a relentless bull market.
Even though the equity markets have bounced back since the initial crash from the coronavirus pandemic — shocking and confounding many hedge-fund managers — there is still money to be made for distressed-debt investors. By Marc Lasry’s count, between $500 billion and $1 trillion in opportunities.
“The biggest opportunity today is investing in companies that are in bankruptcy or going through a restructuring,” said Lasry, the billionaire founder of $9.7 billion Avenue Capital, on a SALT Talks webinar with Skybridge Capital managing director Anthony Scaramucci last week.