Born in Morocco, attended Clark U., then New York Law School. Ran bankruptcy operations at Cowen & Co.; approached by Robert Bass, agreed to manage small sum of money. With sister Sonia Gardner founded distressed debt brokerage Amroc Investments 1989; 6 years later siblings founded hedge fund Avenue Capital. Sold 15% stake to Morgan Stanley for $275 million in 2006. Firm’s assets have fallen 20% to $17 billion since the fall.