# Loral Space & Communications

Loral Space & Communications is a Pension Fund based in New York, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 600 Third Avenue, New York, NY 10016
- **Assets under management:** 42 (Altss estimate)
- **Website:** https://www.loral.com
- **LinkedIn:** https://www.linkedin.com/company/loral-space-communications
- **Wikidata:** Q3259355

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Secondaries
- SpaceTech

## People

- Mark H. Rachesky — Chairman
- Bernard L. Schwartz — Former Chairman and CEO

## 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.

### 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.

### 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.

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- [Avrio Wealth Pte Ltd](https://altss.com/profile/avrio-wealth-pte-ltd)
- [CEIBS Education Development Foundation](https://altss.com/profile/ceibs)

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Last updated: 2026-07-06T00:35:42.535Z

Canonical page: https://altss.com/profile/loral-space-communications

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