Reported 24 days ago
Avenue Capital Group, run by billionaire Marc Lasry, is looking for a buyer for its impact investing business following the withdrawal of the New York State Common Retirement Fund as an investor in its second Sustainable Solutions Fund. The firm, currently managing over $400 million in its first fund, may consider winding down the fund and laying off employees if no buyer is found. The pension fund's decision to avoid further investment is tied to high staff turnover in Avenue's impact division.
Source: YAHOO