Founded in 1995, Avenue Capital Group manages assets valued at approximately $13.1 billion. Headquartered in New York, with offices in London, Luxembourg, Munich, and five throughout Asia. Avenue Capital is a global investment firm whose strategies focus on opportunities in the U.S., Europe, and Asia. The firm targets distressed and undervalued debt and equity opportunities as well as long-short opportunities, real estate, and securitized loan obligations. As of March 31, 2013, the firm's assets under management allocated to the Avenue U.S. Strategy were estimated to be approximately $11.5 billion.