We study the equilibria of a large Lokta-Volterra system of coupled differential equations in the case where the interaction coefficients form a large random matrix. In the case where this random matrix follows an elliptic model , we study the existence of a (componentwise) positive equilibrium and describe a phase transition for the matrix normalization. If there is no positive equilibrium, we provide conditions on the model parameters for the existence of a stable equilibrium (with vanishing components) and state heuristics to compute the number of positive components of the equilibrium. Lotka-Volterra systems are important in mathematical biology/ theoretical ecology.