Billionaire investing legend and Milwaukee Bucks owner Marc Lasry said there could be $1 trillion in opportunities over the next year in distressed companies. Here’s where he sees the biggest gains.

Distressed-debt investors have been aggressively raising money since the effects of the pandemic on the global economy became clear in the spring. The equity markets’ bounce back has not taken away opportunities, according to legendary distressed investor Marc Lasry. Lasry, the owner of the Milwaukee Bucks and a big fundraiser for Joe Biden, said on a webinar last week he expects to see between $500 billion to $1 trillion in opportunities worldwide over the next year. Sign up here for our Wall Street Insider newsletter.

Distressed-debt investors have been waiting for a recession after more than a

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