Avenue Capital Group said Monday that Stephen Trevor was named a Senior MD focused on distressed-for-control investments. Trevor was previously co-head of the private equity business within Morgan Stanley Investment Management as well as co-head of Morgan Stanley Merchant Banking and Asset Management.
Avenue Capital Group, a global investment firm focused on undervalued opportunities in the private and public debt, equity and real estate markets in the U.S., Europe and Asia, today announced the appointment of Stephen Trevor as a Senior Managing Director focusing on distressed-for-control investments. Mr. Trevor will split his time between the firm’s New York and London offices.
Mr. Trevor, 48, previously was co-head of the private equity business within Morgan Stanley Investment Management (MSIM), as well as co-head of Morgan Stanley Merchant Banking and Asset Management. He also served on the Management and Risk committees at Morgan Stanley, which he joined in 2007. Prior to Morgan Stanley, Mr. Trevor was a Managing Director in the Principal Investment area of Goldman Sachs, and a partner at the firm. Mr. Trevor joined Goldman Sachs in 1992, and worked out of Goldman’s Hong Kong, London and New York offices over 15 years. Prior to Goldman Sachs, he worked at Time Warner, Inc. Mr. Trevor received an M.B.A. from Harvard Business School in 1992 and was a member of the United States Olympic fencing team in 1984 and 1988.
“Steve is a veteran private equity investor who will be a strong addition to Avenue’s team in the U.S. and Europe as we aim to expand our distress-for-control investment activities,” said Marc Lasry, the Chairman and CEO of Avenue Capital Group.
Avenue Capital recently raised $2 billion for its second Europe-focused fund, Avenue Europe Special Situations Fund II, which is targeted at opportunities created by Europe’s leveraged corporate debt market and the region’s sovereign-debt crisis. The firm’s Europe strategy is led by Rich Furst, Senior Portfolio Manager. Mr. Furst oversees a team of 20 dedicated investment professionals in London and Munich. The distressed-for-control initiative led by Mr. Trevor at Avenue will be separate and distinct from the firm’s Europe strategy.
About Avenue Capital Group
Avenue Capital Group is a global investment firm focused on undervalued opportunities in the private and public debt, equity and real estate markets in the U.S., Europe and Asia. The firm is headquartered in New York, with offices in London, Luxembourg and Munich, and five offices throughout Asia. As of November 30, 2011, Avenue oversees approximately $12.1 billion of assets under management, on behalf of a sophisticated global base of institutional investors, the majority of which is pension funds, and also includes family offices, foundations, insurance companies and sovereign wealth funds. Avenue was founded in 1995 and draws on the skills and experience of approximately 300 employees worldwide.