Avenue Capital names Rich Furst as chief investment officer.
FORTUNE — President Obama soon will nominate hedge fund manager Marc Lasry to be the next U.S. Ambassador to France, and his firm is reaching out to investors about its future plans.
Fortune has obtained an email sent by Avenue Capital president Sonia Gardner, who co-founded Avenue with Lasry (her brother) back in 1995. The big news is that Rich Furst will take over Lasry’s top-level investment strategy responsibilities, as chief investment officer. He also will continue to lead European strategy. No word yet on who will assume Lasry’s fundraising efforts.
Gardner does not specifically mention the Ambassador job, except to say that her email was promoted by “recent speculation in the media regarding Avenue.” She is correct that many reporters have written that Lasry was expected to get the France (or maybe UK) job, but the news was basically confirmed via an offhand comment last week by former President Clinton. Clinton’s daughter Chelsea used to work at Avenue.
Here is a copy of Gardner’s entire investor letter:
Avenue had approximately $12.2 billion of assets under management through the end of January, and has more than 200 global employees. This includes 65 investment professionals, plus more than 15 senior portfolio managers and portfolio managers overseeing a variety of investment strategies.
An Avenue spokesman declined to comment on the letter.
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