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November 08, 2006
Chelsea Joins Avenue Capital
-- By Pushpa Sathish, Staff Writer
Chelsea Clinton has made the transition from a consultants company to a hedge fund – the daughter of former President Bill Clinton (and a future one too?) left McKinsey & Co. to enter the portals of the Avenue Capital Group, a fund which invests in distressed securities.
The New York-based, $12 billion fund is tight-lipped about the role she will play in its affairs. Avenue’s founder, Marc Lasry, is an established contributor to numerous campaigns of the Democratic Party, including those for Hilary Clinton, Al Gore, Bill Bradley and John Kerry.
Avenue Capital was in the news recently when investment bank Morgan Stanley purchased a small stake in the fund.
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