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Loral Space & Communications
Loral Space & Communications was led historically by Bernard L. Schwartz as chairman and CEO. Mark H. Rachesky now serves as chairman through his control of...
Loral Space & Communications
Loral Space & Communications was led historically by Bernard L. Schwartz as chairman and CEO. Mark H. Rachesky now serves as chairman through his control of MHR Fund Management. The firm concentrates on secondaries investments. It has maintained co-investment exposure alongside PSP Investments in Telesat Canada and partnered with Hisdesat on the XTAR joint venture. Geographic reach centers on North America with residual orbital and payload interests. Team size and office footprint remain undisclosed beyond the New York headquarters. No adjacent philanthropic vehicles or club memberships appear in current records beyond industry associations such as AIAA and SSPI. Control rests with MHR Fund Management as the primary shareholder, creating a hybrid structure between corporate owner and dedicated investment vehicle.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
New York
Corporate office
600 Third Avenue, New York, NY 10016
Principals
Mark H. Rachesky
Chairman
Bernard L. Schwartz
Former Chairman and CEO
Sector focus
Frequently asked questions
Who controls Loral Space & Communications?
Mark Rachesky, founder of MHR Fund Management, controls Loral through a dual-class share structure that MHR acquired during the company's post-bankruptcy restructuring. Former CEO Bernard L. Schwartz built the original Loral into a satellite manufacturing and defense firm before its break-up and sale.
What is Loral's relationship with Telesat?
Loral owns a 62.7% economic interest in Telesat, one of the world's largest satellite operators, with the Public Sector Pension Investment Board holding the remaining stake. This makes Loral essentially a publicly traded proxy for Telesat equity, particularly its planned Lightspeed low-earth-orbit constellation.
Is Loral Space & Communications a single-family office or an operating company?
Neither. Loral is a publicly traded holding company that no longer has operating businesses beyond its Telesat and XTAR holdings. MHR Fund Management functions as the controlling investment entity, but Loral itself has no direct investment team, no fund commitments, and no family-office service structure.
How does Loral source its only investment?
The Telesat stake originated from a distressed-credit thesis in the mid-2000s, not from competitive sourcing. After Loral's satellite manufacturing assets were sold, the company retained its Canadian satellite operator interest, which MHR then consolidated through board control and share accumulation.
Does Loral participate in fund commitments or direct investments beyond Telesat?
No. All of Loral's value derives from the Telesat stake and a minority interest in XTAR LLC, a government-focused X-band satellite joint venture. There are no disclosed fund commitments, venture investments, or alternative-asset allocations.
What philanthropic structures are associated with Loral?
The Bernard and Irene Schwartz Foundation was established by former CEO Bernard L. Schwartz and is historically linked to Loral's prior era, but it is not controlled by the company or by current leadership. No active philanthropic vehicle is attributed to Mark Rachesky through the Loral corporate structure.
How is Loral structured compared to a typical pension fund?
Despite being tagged historically as a pension asset owner, Loral functions as a corporate holding company with no pension liabilities, no beneficiary obligations, and no diversified portfolio. Its classification derives from legacy data rather than current operational reality.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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