wasserstein private equity

Wasserstein purchased The American Lawyer, which he later sold, and New York magazine, which remains under his family's control. She has worked for GI Partners, Merrill Lynch, Wasserstein Private Equity, and Permira in London. Wasserstein established his reputation for orchestrating complex mergers and acquisitions at First Boston Corp., and later Wasserstein Perella & Co., an investment bank sold to Dresdner Bank in 2000 for $1.4 billion. Wasserstein 3-in-1 Floodlight, Charger and Mount for Wyze Cam V3 (Camera Not Included) 4.8. Between 2005 and 2012, GSOs assets grew at a compounded annual rate of 29 percent. She holds a BCom in Economics and Finance from McGill University and speaks English, Arabic and Armenian, and is proficient in French. The congressman supported new gun legislation after a school shooting in Uvalde, located in his district. 1 or 2 in their markets, looks at about 1,000 deals every year and completes fewer than 5 percent of those. While Goodman loves to talk, Ostrover has to be pressed for details. Overview of Wasserstein US Equity Partners IV Wasserstein US Equity Partners IV is a closed private equity fund managed by EagleTree Capital . Click here to register, Not for publication, email or dissemination, When it comes to private wealth, PE is still an unknown name, PE outperformed in US state pension portfolios over past two decades report, Side Letter: LPs biggest concerns; growing family offices; Bains VC vindication, Indiana Public Retirement System commits $450m to PE. They did their homework, and they were convinced that the market was underestimating our ability to succeed in a space housing that they thought was recovering, says Hovnanian. GSOs hedge fund invested in public securities, mezzanine debt and distressed debt and provided some rescue lending for companies going through liquidity problems. Prior to that time he was a Senior and Founding Member of the Merchant Banking Group of Wasserstein & Perella Co., Inc. since its inception in 1988. Alta Semper today manages funds on behalf of its founding shareholders as well as various US and European institutions, and is the most active investor in the healthcare space in Africa over the last two years. Manage and implement various projects in the fields of corporate finance, mergers & acquisitions, project finance, capital markets, private equity and asset management. 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. Prior to that time he was a Senior and Founding Member of the Merchant . Investment efforts are focused across threesectors: Focusing on brands, we target a wide range of consumer products, including personal care, food and beverage (including organic, natural and good-for-you), enthusiast/sporting, housewares and luxury products, among others. Prior to joining Sheffield, Mr. McLellan worked at Apollo Global Management, LLC (AGM) from 2004 2010. Mr. Parsons is also a member of the boards of The Estee Lauder Companies Inc., Lazard Freres and Company, and Madison Square Garden, Inc. Greg Parsons is the CEO of Semper Capital Management, and has been part of Semper Capital since 2008. You couldnt hope to compete because the banks were so aggressive, he says. Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. In developing this Policy, we have considered a range of guidance, including the Principles for Responsible Investment, the American Investment Counsel Guidelines for Responsible Investment and the Sustainable Development Goals. "It's all family, every aspect of this place," Mr. Moss, who has edited New York since 2004, said in an interview last week at . In Europe 70 to 75 percent of lending is done by banks. This content is from: There is a place for capital formation at market rates of return and driven by problem solvers, explains Coulter. He might have been young, but it was like a pro coming into an amateur team, adds James, who then ran DLJs investment bank. Alta Semper Capital LLP is a limited liability partnership registered in England and Wales under no. The future looks bright for credit investing. 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. 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. Acquisition of Stake in Deutsche Telekoms German and Austrian Tower Business, Acquisition of Ortho Clinical Diagnostics, Household / Personal Care & Beauty Products, Digital Infrastructure (Data Centers, Fiber, Satellite, Towers), New Self-Regulatory Organization of Canada. Premium. Also, Mr. Jones served on the Board of Directors of Lazard and previously served on the Boards of Directors of Meyer Material, Odwalla, All-Clad, and IMAX, among other Wasserstein companies. Smith, who calls himself Mr. The EagleTree Capital team is currently investing its fifth private equity fund, EagleTree Partners V, with over $1.1 billion of committed capital. He later became CEO of Lazard Ltd, while at the same time sitting atop private equity firm Wasserstein & Co, which continues to operate. Prior to joining Alta Semper, Ahmed was a Director at CI Capital Investment Banking, a leading Cairo-based investment bank, where he sourced, led and executed several capital markets and M&A transactions. We target investments of between $30 million and $150 million. In 2007, Merrill Lynch & Co. took a minority stake in GSO and the firm had its first closing for a new mezzanine fund. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 as an Associate. Goodman is quick to credit the Blackstone brand for at least part of GSOs success. In July 2007, he sold American Lawyer Media to Incisive Media for about $630 million in cash. Though investors seem to have set their concerns aside, GSO maintains that Europe poses the same risks to the global economy it always did and that rates must rise sometime in the next four years. The Team. He also serves on, and was formerly Chairman, of the Advisory Board of the Yale School of Management and is on the Board of the Cate School. Mr. Campbell is the Founder, Managing Partner and Chief Investment Officer. This was more like a family reunion than an acquisition, says Schwarzman. GSO LIKES A LITTLE, BUT NOT TOO much, market misery. Writing something down to zero is not your proudest moment, Goodman says. Afsane Jetha began her career at Merrill Lynch and Wasserstein Private Equity before moving on to the consumer team at Permira in London. Tailor specific ESG inquiries and approaches based on various investment factors including the core industry sector of a particular investment. 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. March 29-30, 2023 A link has been emailed to you - check your inbox. Its amorphous, and you dont know the people. After James joined Blackstone, Goodman took over CSFBs alternative capital division. The firm invests in privately held mid-market businesses primarily headquartered in North America with a focus on the following industry sectors: media and business services; consumer; and water and specialty industrial. Mr. Kelsey earned a B.S. Copyright 2023. By that July the three partners had launched GSO with 25 employees and one hedge fund. In the meantime, it has cut back the pace of investments and is going after only the most compelling ones, in industry sectors including shipping, metals and mining, and natural gas. Alta Semper Capital LLP is authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 756838. Wasserstein Debt Opportunities Management, LP ("WDO") is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds.The firm seeks to create differentiated high yield exposure through primarily private equity backed, US non-large cap high yield issues, where WDO sees potential for price inefficiency. The higher amount of exits for fund were in 2011. This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. He has also studied Precision Medicine at Harvard Business School and Fintech at the Said School of the University of Oxford. Though the three founders couldnt be more different, theyve maintained their partnership without a blip for 20 years. (212) 702-5602 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. Original price $69.99. Chief Financial Officer - Appointed CFO of Gabelli Group in 2001, re-joined as CFO in 2014 (after serving company as independent director / advisor from 2008). The high-yield and leveraged-loan markets never developed there like they did in the U.S. The big Swiss bank wanted Goodmans leveraged-finance business as well as DLJs merchant banking and real estate groups. What was a wide-open white space for us? Never satisfied with his intense day job, Bruce's private equity firm Wasserstein & Co. holds stakes in the popular New York magazine, and the delicious Harry & David gift basket retailer, among . 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. 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. On the strength of that bridge loan business, we built ourselves up into the leading firm, says James. 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. For its drawdown funds alone, it committed $3billion to 26 companies. You should only be asked to sign in once. from the University of California at Berkeley. Prior to joining Alta Semper, he was a Senior Associate at Matouk Bassiouny in Cairo, Egypt (a leading regional law firm). GSOs investors, by contrast, had a paltry $22million invested with Goodman, Ostrover and Smith. Zachary has an MBA from The Wharton School at the University of Pennsylvania and a BA in Economics from Cornell University. He also serves on Semper Capitals Risk Management and Compliance committees. With nearly 400 . About Wasserstein Partners IV Wasserstein Partners IV is a mid-market buyout fund managed by WP Capital Management, the private equity investment company formerly associated with Wasserstein Perella Group and Wasserstein & Co. While working at Sheffield from 2010 2016, Mr. McLellan led many of the largest positions analyzing long/short equity and credit investments. But that is likely to change as banks shed assets to deleverage and companies need capital. Afsane Jetha - Gaining Additional Experience. Joseph H. Lauder Institute of Management and International Studies. At PWP, we seek talented people capable of broad and creative thinking with the drive to provide the highest quality advice to our clients. At present, he is a Senior Advisor at Providence Equity Partners, Inc., a leading private equity investment firm specialising in media, communications and information companies and is the Chairman of Governor Andrew Cuomos New NY Education Reform Commission. In early 1988, Goodman started building the capital markets business at DLJ under Moran and James. Business Video. The firm honed the skills needed to look at an ugly financial situation and determine the commercial viability of a financing for both the companies and investors. 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. But the GSO team immediately understood the annuity-like cash flow streams of music publishing and how much less volatile it is than recorded music and less subject to the decline of physical recorded media., Wiesenthal adds that GSO was flexible enough to let billionaire David Geffen, also an investor, participate in the transaction late in the game. In addition to strengthening their firms credit business, Schwarzman and James saw benefits for its private equity operation. Journal Report. Thoughtful Electronics and Accessories for Smart Homes | Market leader and accessory manufacturer of smart home products such as Google Home, Nest, Ring, Arlo, Echo devices among others. At that time, Drexel had a lock on the business. He began his career at The First Boston Corporation.He recently served on the Boards of Directors of Harry & David, Encompass Digital Media, and Access Scientific. He was CEO since the firms formation in 2001 through 2012. Blackstones acquisition of GSO has been an undisputed winner. degree in Business Administration from Western New England University with a concentration in finance. The only opening that day was for Drexel, which was at the bottom of the Wall Street pecking order even as it dominated the business of financing non-investment-grade companies. Convene 117 West 46th Street, New York, April 19-20, 2023 PWP provides financial and structuring advice in connection with capital raising alternatives, including debt, equity, and hybrid capital, identifying alternative sources of growth capital, including SPACs and private capital, and assisting with identifying investors, developing terms and structuring the transaction. The next month Lehman Brothers Holdings filed for bankruptcy and all hell broke loose. Prior to that, he held various positions in state and federal government, as counsel for Nelson Rockefeller and as a senior White House aide under President Gerald Ford. Mr. Kelsey joined Wasserstein Debt Opportunities Management, LP in 2013 as an Associate. They began their partnership at the global investment bank, Wasserstein Perella & Co., where they led the merchant banking group. The latest messages and market ideas from Afsane Jetha (@afsanejetha) on Stocktwits. He is a co-founder of Pangea University for the Health Sciences, a newly formed international platform for medical, nursing and health technology education for the emerging and frontier markets. A +. He is credited with the term, Pac-Man defense, which is used by . They have a zealous approach to protecting capital, and theyve found a way to extend credit to organizations that need it and structure it in a way that takes advantage of the environment at the time, says Blackstone chairman, CEO and co-founder Stephen Schwarzman. The firm manages capital on behalf of institutional and individual investors. Prior to joining Semper Capital, Greg served as Founding and Managing Member of CP Capital Partners, LP. He is fluent in Arabic, French and English and is based in Alta Sempers Cairo office. 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. There is a wealth transfer going on from banks shareholders to the investors in our funds, says Goodman. Contribute to the database and get 1 month free* Full online access! In the U.S. banks provide about 30 percent of lending, with capital markets and investors providing the remainder. This is bolstered by our expert shareholder base, which brings experienced strategic and operating partners to our transactions and best-in-class management teams. Banks may no longer have the balance sheets, but big institutional investors like sovereign wealth funds, endowments and pension funds do. GSO has provided much-needed credit to scores of troubled companies like Hovnanian that couldnt tap public markets or get bank loans. By Stephen Grocer. 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. As applicable, EagleTrees Investment Committees in partnership with the ESG Sub-Committee will oversee and consider ESG issues, if any, that are material to a potential company investment. *SHIPS WITHIN 1 - 2 WORKING DAYS SUPER BRIGHT LIGHT - Over 2000 lumens of light will enhance your camera's vision in low-light conditions and allow. It was DLJs limited balance sheet that taught Goodman, Ostrover and Smith how careful they had to be with their credit analysis and due diligence. 1999 Avenue of the Stars Suite 2840 Los Angeles, CA 90067United States, 1301 Avenue of the Americas 41st FloorNew York, NYUnited States. Bruce Wasserstein was an American investment banker, businessman, and writer who began his career as an attorney with Cravath, Swaine & Moore. Also, Mr. Jones served on the Board of Directors of Lazard and previously served on the Boards of Directors of Meyer Material, Odwalla, All-Clad, and IMAX, among other Wasserstein companies. 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. Blackstone allowed us to take our business from being three years old to ten overnight, Ostrover says. Private equity investors are by nature optimistic and swaggering, thinking every deal is a potential blockbuster. The tank plus-up, which Ukrainian ambassador to the United Kingdom Vadym Prystaiko announced on Saturday, should come as no surprise. Previously, Mr. OKeefe worked at S&P Capital IQ Leveraged Commentary & Data Group where he was responsible for research on leveraged loans and high yield bonds. Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. According to external marketing documents, its hedge fund has delivered a net annualized return of 13.6 percent since January 2010, compared with the HFRI Fund Weighted Composites return of 4.6 percent for the same period. Consider whether a potential portfolio companys business aligns with EagleTrees core values. Credit investors, on the other hand, are pessimists, aware that the upside of their investments is limited, evaluating everything that can go wrong in an effort to protect their principal. Convene 117 West 46th Street, New York, May 23-24, 2023 Work with portfolio companies to integrate sustainability considerations into their business plans, as applicable. These initiatives and strategies include new product launches, entrance into new markets, add-on acquisitions and operational improvements. At a bank youre working for anonymous shareholders, trying to make as much money as you can, he explains. Goodman and Ostrover joke that Smith was responsible for DLJs success. 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. Mr. McLellan joined Wasserstein Debt Opportunities Management, LP in 2017 as a Managing Director. Kenyas sole electricity distributor cited a system disturbance as a possible cause for the blackout. ("TCP"), have entered into a definitive agreement to acquire Globecomm from a New York-based private equity firm. 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. Salesforce beat earnings-per-share estimates after the closing bell on March 1, 2023. and co-managed the company for five years until its merger. His health-related management education works includes the design and delivery of the health care management MBA and executive programs at the Indian School of Business, as well as the health care management program at Strathmore University in Nairobi. Todays Wordle #624 Hint, Clues And Answer For Sunday, March 5th, UFC 285 Results: Cody Garbrandt Defeats Trevin Jones In Return To The Octagon, The Early Returns Of Kevin Durant In The Phoenix Suns Offense, Desperate Russian Forces Are Sticking 80-Year-Old Naval Guns On 70-Year-Old Armored Tractors, Saturday, March 4. If you're happy with cookies click proceed. If Drexel came up with the junk bond and DLJ created the institutional leveraged-finance market, GSO is again reinventing the concept of providing capital to non-investment-grade companies this time as an asset manager. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. Smith had joined Salomon from Drexel, leaving with a group during the bankruptcy. We partner with entrepreneurs with the goal of building great brands. You had to figure things out and use your smarts instead of brute strength, Smith, 47, says. (The sentence was later reduced to two years.). GSO has $8billion in dry powder to put to work when rates eventually rise and investors inevitably sell at least some of the bonds theyve bought in recent years. GSO represented 38.9 percent of Blackstones $629million of realized performance fees earned in 2012 and 16 percent of the firms $2billion in economic net income last year. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. The group has products that do better in different market environments, such as its closed-end funds and a new exchange-traded fund it recently launched with State Street Global Advisors. 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 the remainder of Wasserstein Perella by Dresdner Bank. The private equity business of the investment firm was not included in the sale and was to be sold off to existing Wasserstein shareholders. Amid the froth GSO is now doing its preparatory work for the next crisis. The high activity for fund was in 2002. Mr. McLellan began his career in direct investing in 2004. Mr. Bagaria also held responsibilities related to secondary trading, investment team development, portfolio company work-outs and the development of Apollos energy lending and aviation investment platforms. The breadth and scale of its funds allow it to offer a range of solutions to companies, including rescue financing and senior secured bank loans. The Deutsche Bank portfolio was marked to about 5 cents on the dollar for the quarter ended March 31, 2009. Even so, GSO has 31 investment professionals in London, and they are doing more deals now than the firm is doing in the U.S. Nearly five full years after the worst of the financial crisis, the real estate market is finally on the mend, investors are wondering if homebuilders stocks have rallied too far, and the outlines of the new order of Wall Street are coming into sharper focus. Greg is responsible for oversight and portfolio management at PIC. Mr. McLellan began his career in direct investing in 2004. The firm seeks to create differentiated high yield exposure through primarily private equity backed, US non-large cap high yield issues, where WDO sees potential for price inefficiency. Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. The defanged banks are receding into the background and making peace with new regulations designed to emasculate their balance sheets. Afsane Jetha co-founded Alta Semper Capital in 2015. At its peak, GSO had $475million in hedge fund exposure to homebuilders and related industries and put out $600 million in financing across private market vehicles. Prior to joining Alta Semper, Zachary was a Senior Associate at Emerging Capital Partners where he covered infrastructure and consumer / retail investments in Kenya. Mr. Parsons was named Americas Best CEO in the entertainment industry by Institutional Investor in 2005. EagleTree believes its collaborativeapproach toinvesting createsvalue across a defined set of initiatives developed in partnership with portfolio company management. Afsane holds an MBA from Harvard Business School and a BSc in Economics, from The Wharton School at the University of Pennsylvania. A month after its launch, GSO hired Donald (Dwight) Scott, who ran the energy practice at DLJ before joining El Paso Corp. in 2000. Drexel was a place where analysts spent days buried in the dense financials of dicey companies. [7] The investment banking business of Dresdner Bank changed its name to Dresdner Kleinwort Wasserstein as a result of the deal. Its alternative credit growing up. Mr. Montana joined Wasserstein Debt Opportunities Management, LP in 2014 as a Finance Associate. It was the first of many overtures Blackstones executives would make to him. When the markets rebounded in 1991, DLJ took over as a leading player. And this is good for the economy. TPG launched its own midmarket lender after the financial crisis and has both competed and partnered with GSO. A verification email is on its way to you. Mr. Campbell received a B.S. DLJ used its market position to keep reinvesting in the firm, building a leveraged-loan capability and creating a derivatives business and large distressed unit. 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.