Lorenz was born in Chicago and has lived in Los Angeles since 1989. As a producer he has been nominated three times for Best Picture: Mystic River in 2003, Letters From Iwo Jima in 2006 and American Sniper in 2014. In 2012 he made his directorial debut with Trouble with the Curve. He has been a member of the Directors Guild of America since 1993 and the Producers Guild of America since 2005.

Lorenz met his wife, Melissa, while working together on The Bridges of Madison County. They live in the Los Angeles area with their two children.