wasserstein private equity wasserstein private equity

Marina joined Alta Semper in January 2019. The company would sell its property inventory to a land bank created by GSO in return for a $125million cash infusion. All HLS students are permitted to meet one-on-one with Wasserstein Fellows. Mr. Jones currently serves on the board of the health food company, Forager Project, Inc., as well as on the advisory boards of a number of investment firms. Manage and implement various projects in the fields of corporate finance, mergers & acquisitions, project finance, capital markets, private equity and asset management. Mr. OKeefe earned a B.S. This means that every time you visit this website you will need to enable or disable cookies again. Founded in 2001, MVision Private Equity Advisers is widely recognized as one of the world's leading independent international alternative assets advisory firms, raising capital for Private Equity, Real Estate, Real Assets, Credit and Direct transactions in both the developed and emerging markets. They do it because they cant get the capital otherwise. And many companies say GSO doesnt scrape every penny out of a deal. Wasserstein Home | 848 followers on LinkedIn. (212) 702-5602 There Milken was leading whats now called the democratization of capital-raising, providing funding to small and medium-size companies that were starved for financing and whetting the appetites of investors for distressed and troubled companies that showed promise despite short-term woes. Mr. Jones received his MBA from the Yale School of Management and his B.S. As it turned out, GSO had done thorough credit analysis and structured the debt appropriately, and it made 1.5 times its investment in two years, with every company paying off its debts. But by the end of 2009, the firm had $24billion in assets. High cash-on-cash returns with capital appreciation potential. Mid-market firm Wasserstein & Co. has closed its latest flagship fund, Wasserstein Partners IV, on $790 million, according to a source familiar with the matter. But things are changing much more slowly in Europe than they did in the U.S. Every European country has its own business climate, union rules and regulatory system, and bankruptcy law isnt always clear enough for a manager like GSO to get the assurance it needs to invest in a troubled company. Mr. Campbell received a B.S. We, on the other hand, want to own the risk.. Its alternative credit growing up. This Policy reflects our current approach to considering and addressing Environmental, Social and Governance (ESG) factors and which has been further developed and refined since we became a PRI signatory in 2019. Working directly with CEO, funds . As 2008 wore on and the credit crisis gathered steam, GSO started putting money to work. But in June 2004, John Mack, then CEO of CSFB in the U.S., announced he was leaving; the Credit Suisse board had decided not to renew his contract. The big Swiss bank wanted Goodmans leveraged-finance business as well as DLJs merchant banking and real estate groups. With over 15 years of experience, the principals of Orkila seek to leverage their deep industry knowledge and . Other investments recently controlled by Mr. Campbell and for which he served as Chairman include, but are not limited to, National Interest Security Company, LLC; SC3, LLC; and International Development Solutions, LLC. If you disable this cookie, we will not be able to save your preferences. Prior to founding DC Capital in 2007, Mr. Campbell was a Partner of Veritas Capital Management, LLC from 1992 through 2006 having been a Co-Founder of The Veritas Capital Fund, L.P. and one of the two Managing Members of the successor fund, The Veritas Capital Fund II, L.P. Mr. Lauder is also Chairman of the Board of Governors of the Joseph H. Lauder Institute of Management and International Studies at the Wharton School at the University of Pennsylvania. He later became CEO of Lazard Ltd, while at the same time sitting atop private equity firm Wasserstein & Co, which continues to operate. Its not the Wild West, not the personality-driven days of 20 years ago. A patron of the arts and a noted collector, Mr. Lauder was Chairman of the Museum of Modern Art from 1995 to 2005 and now serves as the museums Honorary Chairman. Zacharys advisory experience was developed within the investment banking divisions of UBS and Goldman Sachs in New York and Johannesburg. Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. Smith had joined Salomon from Drexel, leaving with a group during the bankruptcy. degree in Finance, Investment, and Banking from the University of Wisconsin, graduating with Honors. In 1988, Bruce established a private equity division of Wasserstein Perella & Co., called Wasserstein & Co., which he used to manage and invest his personal wealth and later, that of his family. You can find out more about which cookies we are using or switch them off in settings. Currently, Mr. Campbell is the Chairman of all of the Fund II portfolio companies, Michael Baker International, LLC, and The SPECTRUM Group, LLC. While at Duet, Afsane led the largest private equity transaction into Ethiopia, Dashen Brewery, as well as, sourced and executed on several consumer-facing transactions in Ghana, Uganda and Cote DIvoire. Blackstone Groups GSO Capital: Lenders of Last Resort. The Team. From 2002 2004, Mr. McLellan worked as an analyst for Deutsche Bank focusing on Mergers & Acquisitions and Media Investment Banking. He has over 25 years of experience in investment banking and private equity and has been responsible for building and overseeing both industry and product groups at major investment banking firms. But, as Smith says, its also a great place to lose money. If you miss your Wasserstein Fellow appointment without notifying OPIA at least 24 hours in advance to cancel or reschedule your appointment, you will be barred from signing up [] Former UFC Mens Bantamweight champion Cody Garbrandt celebrated a triumphant return to the Octagon on Saturday night. The firm, which has a competitive advantage by doing most of its own loan originations and investing in companies that are No. As a result, the high-yield and leveraged-loan markets never developed in Europe to the extent they did in the U.S. He also advised Meridian Investment (Russia) on the investment of its stake in TBE Egypt for Payment Solutions and Services to an affiliate of BPE Partners. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. Among his extensive experience in advising local and international clients on cutting-edge M&A transactions, Ibrahim advised Alta Semper on its acquisition of Macro Group (Egypt) and ODM (Morocco). Prior to Duet, she was at GI Partners where she executed several transactions in the healthcare, consumer and real-estate sectors. After James joined Blackstone, Goodman took over CSFBs alternative capital division. At the same time, Blackstone had relationships with almost every major institutional investor in the world, a group that had, on average, $200million in assets invested with the firm. She has worked for GI Partners, Merrill Lynch, Wasserstein Private Equity, and Permira in London. degree in Individualized Study at New York University with studies at the London School of Economics, graduating cum laude. When the markets rebounded in 1991, DLJ took over as a leading player. Before that she worked at Apollo Global Management, the private equity firm, where she evaluated . Terms of the transaction were not disclosed. Marina is based in Alta Sempers Cairo office. Fully 80 percent of GSOs senior management team is from DLJ. In 1995, Moran moved up to chief operating officer of fixed income, and Goodman took over all of leveraged finance. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). He reveres his middle-class upbringing first in Queens, New York, and later in Stamford, Connecticut and says that when he was growing up he didnt know anyone who worked on Wall Street. We partner with entrepreneurs with the goal of building great brands. and co-managed the company for five years until its merger. Click here. There is a wealth transfer going on from banks shareholders to the investors in our funds, says Goodman. Prior to joining Alta Semper, Zachary was a Senior Associate at Emerging Capital Partners where he covered infrastructure and consumer / retail investments in Kenya. The Capital Solutions Fund GSOs rescue lending vehicle is an object lesson in the maturation of alternative credit. I fell for it hook, line and sinker, says Goodman. In 1992, Goodman hired Ostrover from Grantchester Securities, the high-yield arm of boutique investment bank Wasserstein Perella & Co., to run DLJs sales and trading. 1 and having a big firm behind them. Dresdner won't acquire Wasserstein's private equity business, which will be spun off to the U.S. firm's existing shareholders. Blackstones offices on Park Avenue are nothing short of glitzy, with unobstructed views of the New York skyline and floors connected by grand staircases with polished metal banisters. They began their partnership at the global investment bank, Wasserstein Perella & Co., where they led the merchant banking group. Work with portfolio companies to integrate sustainability considerations into their business plans, as applicable. He brings more than ten years of investment banking and private equity investing experience in the consumer, healthcare and financial services sectors across the MENA region and Sub-Saharan Africa. There is a place for capital formation at market rates of return and driven by problem solvers, explains Coulter. a private-equity-owned . That summer James approached Goodman the fourth time Blackstone had tried to entice him into a deal and stated the obvious: In credit were not where we want to be. Sustainable Business. You had to figure things out and use your smarts instead of brute strength, Smith, 47, says. Afsane Jetha - Gaining Additional Experience. He was CEO since the firms formation in 2001 through 2012. I dont feel like Im going to get my throat ripped out when I call GSO, says one CEO who has done multiple deals with the company. The former undrafted free agent's contract includes $1.4 million in remaining guaranteed salary. Other deals include the $25 billion merger of Swiss Bank Corp and UBS and the $10 billion merger of Morgan Stanley & Co. and Dean Witter Discover & Co.[10], "One of the Best Recruiters in the Neighborhood", "Michael J. Biondi, Banker and Deal Maker, Dies at 50", "Directors and Executive Officers of Lazard", "Investment banking: Walking away from Wall Street", Bruce Wasserstein, Chairman and CEO of Wasserstein Perella, https://en.wikipedia.org/w/index.php?title=Wasserstein_Perella_%26_Co.&oldid=1093705238, This page was last edited on 18 June 2022, at 09:47. ALM, which in January 2005 changed its name from American Lawyer Media, was formed by U.S. Equity Partners L.P., a private equity fund sponsored by Wasserstein & Co. Mr. Bagaria was a board director of LVI Services, Inc., Generation Brands and Playpower, Inc. During the most recent recession, Mr. Bagaria was a manager of a multi-billion dollar senior loan vehicle. Lets face it, if a company can tap the public markets, they will, and theyll get a much better deal.. GSO represents 26.6 percent of the firms $218billion in assets, on par with its $59billion real estate business and larger than both its private equity ($52billion) and Blackstone Alternative Asset Management hedge fund ($48billion) businesses. Previously, he was the Managing Partner of the New York law firm Patterson, Belknap, Webb and Tyler. Alta Semper Capital LLP is authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 756838. Journal Report. He began his career at The First Boston Corporation. Not the case? The firm was launched in May 2013 by Rajay Bagaria with backing from Wasserstein & Co. Wasserstein & Co. is a private investment firm and the family office of the late Mr. Bruce Wasserstein, with offices in New York and Los Angeles. 1 leveraged-finance player, lending to blemished companies that were in some of the fastest-growing sectors of the U.S. economy, including energy exploration and homebuilding. All those covenant-lite loans will be great opportunities for GSO to step in at some point. EagleTree intends to engage with clients and stakeholders, from time to time, in dialogue regarding how we can manage ESG issues in a way that is consistent with their initiatives. Contribute to the database and get 1 month free* Full online access! Mr. Kelsey joined Wasserstein Debt Opportunities Management, LP in 2013 as an Associate. He might have been young, but it was like a pro coming into an amateur team, adds James, who then ran DLJs investment bank. These initiatives and strategies include new product launches, entrance into new markets, add-on acquisitions and operational improvements. . Prior to founding Alta Semper, Afsane spent nearly five years with the Duet Group as the Managing Director of the firms African Private Equity platform, investing nearly US$200m across Sub-Saharan Africa. The higher amount of exits for fund were in 2011. Our investment activities are focused on middle-market leveraged buyout investments and related investment activities. 99 Canal Center Plaza | Suite 400 In 2015, EagleTree spun out of Wasserstein & Co, which was formed in January 2001, when the merchant banking group of Wasserstein Perella became an independent firm. Mr. McLellan began his career in direct investing in 2004. Mr. McLellan was hired by Mr. Bagaria and initially worked within AIC from 2004 2006 before moving into the Strategic Value Fund. Incorporate detailed ESG considerations into our pre-investment decision-making process in order to better assess ESG risks and opportunities and to provide us with an initial overview of a potential portfolio companys ESG profile. New York, NY 10036, Blackstone referred Sony to GSO, which crafted a deal of mezzanine debt and equity warrants in the company. Salesforce beat earnings-per-share estimates after the closing bell on March 1, 2023. Victoria Grace is a founding partner of Colle Capital Partners LP, an opportunistic, early stage technology venture fund. . Hovnanian, who had lived through several real estate cycles, was shocked when Ostrover told him the price of the five-year CDS contracts on Hovnanian implied a 93 percent probability of default. GSO, which is owned by private equity giant Blackstone Group, had spent six months digging into the finances of Hovnanian and had been buying up its equity, secured debt and unsecured debt since March. In the era of Dodd-Frank and the Volcker rule, GSO and others like it, with their ability to make commitments, have more market power than ever, says Brian ONeil, chief investment officer of the $9billion-in-assets Robert Wood Johnson Foundation, the U.S.s largest philanthropic organization focused on public health and one of GSOs first investors. When the high-yield market trades at highs, we put out less capital, says Ostrover. But unlike activist equity managers or loan-to-own credit funds, GSO doesnt seek to change management unless something goes wrong and it has no choice. Though the three founders couldnt be more different, theyve maintained their partnership without a blip for 20 years. On day one Credit Suisse gave the firm more than $500million to manage a big part of the approximately $3billion it had raised from outside investors, including the Bass brothers, Blackstone, Cornell University, K2 Advisors, MetLife, Notre Dame and Quellos Group (now owned by BlackRock). Wasserstein Perella & Co., sometimes referred to as "Wasserella" [citation needed], was a boutique investment bank established by Bruce Wasserstein, Joseph R. Perella, Bill Lambert, and Charles Ward in 1988, former bankers at First Boston Corp., until its eventual sale to Dresdner Bank in 2000 for some $1.4 billion in stock. The Hovnanian deal was originated through the hedge fund but later expanded to include the rescue financing fund. Our close-knit team shares 70 years of combined specialist experience gained at leading private equity and investment firms. Terms aren't expected to be disclosed, but a person briefed on the matter said the price was about $417 million. A verification email is on its way to you. Ibrahim joined Alta Semper in 2021 as a General Counsel. To be sure, Blackstone is not the only manager to have smelled opportunity in the financing void. Track ESG-related metrics across our portfolio companies and engage and collaborate with portfolio companies to consider recommendations from these findings. At the same time, the platform gives it a lot of different eyes into potential investments. PWP provides strategic, financial, and tactical advice in connection with executing complex mergers, acquisitions, company sales, and corporate divestitures, including carve-outs, joint ventures, and spin-offs, and relating to takeover preparedness and defense. Predecessor funds, U.S. Equity Partners I and II, were raised in 1997 and 2002 and invested approximately $750 million of committed equity capital. Prior to joining Wasserstein & Perella Co., Inc., Mr. Campbell was an officer of Manufacturers Hanover Trust Co., where he was a member of the Acquisition Finance Group that was responsible for originating, structuring, and syndicating leveraged loans for such notable sponsors as Kohlberg Kravis Roberts & Co., among others. corporate development. Highlight the portfolio companys progress on ESG matters. Engage with outside advisors, as necessary, to analyze and address ESG issues, risks and opportunities that arise. Wasserstein Perella & Co., sometimes referred to as "Wasserella", was a boutique investment bank established by Bruce Wasserstein, Joseph R. Perella, Bill Lambert, and Charles Ward in 1988, former bankers at First Boston Corp., until its eventual sale to Dresdner Bank in 2000 for some $1.4 billion in stock. While non-investment-grade companies need capital, investors need yield, and alternative credit strategies like those offered by GSO provide a much-needed boost to returns for bond portfolios. A link has been emailed to you - check your inbox. Drexel was a place where analysts spent days buried in the dense financials of dicey companies. EagleTree continues to maintain policies and procedures that prohibit bribery and other illegal payments to public officials consistent with U.S. federal and state laws, and in an effort to protect our systems, networks, programs, devices and data from cyber-attacks, has implemented a robust cyber-security framework. He was appointed Chief Compliance Officer in January 2017. Private Equity. Though it was satisfying to be on their own, Goodman, Ostrover and Smith were used to being No. Traders betting against the company lost money. So-called PE funds may also buy out . In the old days highly cyclical companies in trouble could sell control to a competitor, a private equity firm or a hedge fund firm that took a loan-to-own strategy. GSO and Blackstone announced the deal in January 2008. Having a better understanding of credit markets, having a better idea of how we could finance a creative idea, would make us better in private equity, says James. Smith is the third generation in his Indianapolis Irish family to graduate from the Catholic university; two of his four kids are currently studying there. Prior to Emerging Capital Partners, Zachary was an M&A Executive at SABMiller and worked on beverage related transactions in South Africa, Nigeria, Angola, Kenya, Ethiopia, Malawi, and Tanzania. Apologizing for the seeming hokeyness of it, he refers to a black-and-white picture in his office of New Yorks Orchard Street early in the past century, with unpaved, muddy roads; pushcarts; and a glimpse of Ostrovers Smoked Fish. Our initiatives in this regard are carried out by our Philanthropic Committee, which identifies several nonprofit charities each year with whom employees volunteer and EagleTree supports. The firm was formed in January 2001, when the merchant banking group of Wasserstein Perella & Co., Inc., a global investment banking firm, spun out to become an independent firm upon the acquisition of Wasserstein Perella by Dresdner Bank. After earning his MBA in 1984, the Miami-born Goodman took a full-time job with Drexel in New York. This Policy does, however, retain the same fundamental principles and our commitment to integrate ESG considerations into our investment management business and portfolio company ownership practices. Garrett Moran, who ran the high-yield bond group at DLJ, says Goodman stalked him for six months, wanting to pitch his idea for a capital markets desk. Convene 117 West 46th Street, New York, April 19-20, 2023 Premium. Smith, who calls himself Mr. Dealmaker Bruce Wasserstein, famously nicknamed "Bid 'em up Bruce," died at the age of 61 in 2009, leaving his heirs a fortune wrought from years of fierce deal making. 2016 Goodman, Smith and Ostrover founded GSO in 2005 to provide capital to non-investment-grade cyclical companies that were going through a tough patch but had tangible assets to put up as collateral to protect the firms downside when it lent them money. Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. OC403953. GSO also bought the debt of Clear Channel Communications, a private-equity-owned media company, and led a $1.25billion preferred stock deal for Chesapeake Energy so that company could develop natural-gas production from shale in eastern Ohio. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, 101 Investment Banking Interview Questions. Before joining Wasserstein Debt Opportunities Management, LP, Mr. McLellan was a Senior Vice President at Sheffield Asset Management, LLC (Sheffield), a Chicago-based fund with a contrarian value orientation. Perella Weinberg Partners LP and Tudor, Pickering, Holt & Co. Securities, LLC are members of FINRA and SIPC.Perella Weinberg UK Limited is authorized and regulated by the Financial Conduct Authority.Perella Weinberg Partners France is authorized and regulated by the ACPR and by the AMF. The controversial Wasserstein was married four times and had six children with three different women, one out of wedlock, leading to an inheritance dispute between his heirs. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. New York, NY 10036 PWP provides advice to management teams and Boards of Directors on critical matters that require shareholder interaction and support, including shareholder votes on transactions and annual proxy matters, as well as shareholder activism preparation and managing a company campaign in response to an attempt by an activist to gain board control or influence. He holds graduate and undergraduate degrees in life sciences and humanities from Villanova University, studied medicine and epidemiology at the Hahnemann Medical College, and has an MBA from the Wharton School of the University of Pennsylvania and a Doctorate in Business Administration from the Fox School of Business at Temple University. Mr. Bagaria is the Advisors President and Chief Investment Officer. Now the emergence of alternative credit mirrors tools that equity investors have had with private equity, says TPGs Coulter. (The sentence was later reduced to two years.). Joseph H. Lauder Institute of Management and International Studies. Hints and clues to help you with today's Wordle. Richard was also previously the Head of Private Equity - Americas for Siemens Financial Services, Inc. Richard has invested in and worked .