Summit News

Investor Lasry says he may advise Biden admin on economic policy

FILE PHOTO: Marc Lasry, an American billionaire businessman and co-founder and chief executive officer of Avenue Capital Group speaks during a Reuters investment summit in New York City, U.S., November 4, 2019. REUTERS/Lucas Jackson/File Photo

NEW YORK (Reuters) - Billionaire investor Marc Lasry, who in 2013 had been considered for the position of U.S. ambassador to France, on Friday said he is more likely to play a role on the economic side in the Biden administration, rather than serve as a diplomat.

“I am happy to get involved more on the economic side, and I think that’s what I’ll end up doing,” Avenue Capital Chief Executive Lasry said during a panel discussion for the Reuters Global Investment Outlook Summit 2021.

“It’s more getting on panels and committees to help, since I know a number of the people there,” said Lasry, a longtime Democratic donor.

In 2013, Lasry put to rest speculation about being nominated as U.S. ambassador to France in the Obama administration by telling clients that he would remain at Avenue Capital.

“I actually enjoy what I am doing right now. I think France would have been great, it would have been fun,” Lasry said on Friday. “But I think today I would rather help out more on the economic side.”

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Reporting by Paritosh Bansal and Saqib Iqbal Ahmed; editing by Jonathan Oatis