wasserstein private equity

degree with a double major in Finance and Accounting from Lehigh University. The firm has financed well-known names like Chesapeake Energy Corp., struggling with weak natural-gas prices and controversy around its ex-CEO and needing capital to develop lucrative energy projects, and Sony Corp. while also providing $650million of capital to smaller homebuilding companies like the U.K.s Miller Group and $888million to companies in Europe last year, including Canberra Industries, Welcome Break and EMI Music Publishing. 1999 Avenue of the Stars Suite 2840 Los Angeles, CA 90067United States, 1301 Avenue of the Americas 41st FloorNew York, NYUnited States. She co-founded Work It, Mom! 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. GSO has a view on about 1,000 companies through its CLO business, garnering leads that can be passed on to the hedge fund or other vehicles. There was little room for error. Though the three founders couldnt be more different, theyve maintained their partnership without a blip for 20 years. These initiatives and strategies include new product launches, entrance into new markets, add-on acquisitions and operational improvements. But thats starting to change as European banks need to deleverage and raise capital and companies desperately require funding. 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. EagleTree Capital, All Rights Reserved | TermsofUse and Other Important Disclosure, 1185 Avenue of the Americas, 39thFloorNew York, NY 10036. Though the three are equal partners at GSO, Smith and Ostrover often defer to Goodman for the final word. Meet Chicago's newest, most connected banker - Crain's Chicago Business 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. Summarize the positive impact that our integration of ESG initiatives had on the portfolio companys business and/or culture. The top skills needed for this position are business management, market analysis, finance and accounting, problem-solving, data . PE LBO Modeling Test | Wall Street Oasis Alexandria, VA 22314, 515 North Flagler Drive | Suite 1450 Its not the Wild West, not the personality-driven days of 20 years ago. For $340 Million, Globecomm Allows Wasserstein to Take it Private Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. Current market conditions are setting the stage for a lot of future opportunities for GSO. Thoughtful Smart Home Products Wasserstein Home Wasserstein Debt Opportunities - PitchBook Data When Bruce Wasserstein and Joe Perella Ruled the World - WSJ GSO was an early investor in the shale gas industry, which has been whipsawed by volatile pricing and other events. 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. 39th Floor Hard work got him noticed at Drexel, as well as a meeting with Moran. Sustainable Business. Board of Directors | Swvl Holdings Alta Semper Capital LLP is authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 756838. To support African health management excellence, he co-founded the African Institute for Health Care Management. He also engineered a $479 million purchase of home security company SecurityLink by Chicago private-equity . 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. 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. or Want to Sign up with your social account? If you're happy with cookies click proceed. Any deal would hinge on James, who was revered by GSOs three founders. Respect the human rights of those affected by our investment activities and seek to confirm that our portfolio company investments do not support companies that utilize child or forced labor or maintain discriminatory policies. 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. His research and publications focus on international development with a special focus on capacity building in health care and biopharmaceutical production in emerging economies. Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. After James joined Blackstone, Goodman took over CSFBs alternative capital division. Work with portfolio companies to integrate sustainability considerations into their business plans, as applicable. He holds an AB from Princeton University. Goodman is quick to credit the Blackstone brand for at least part of GSOs success. Earlier in his career, Ahmed worked with the International Finance Corporation (IFC), the private sector arm of the World Bank, in Cairo, advising government-owned enterprises in the MENA region and Sub-Saharan Africa on public-private partnerships (PPP). Wasserstein US Equity Partners IV | Palico Jones received his MBA from the Yale School of Management and his B.S. If you disable this cookie, we will not be able to save your preferences. Since 2008, Blackstone has more than doubled its assets. Grace serves as the CEO of Queen's Gambit. J.P. Morgan and other Wall Street research firms changed their rating from a sell to a hold GSO had been hoping for a buy and Credit Suisse refinanced Hovnanians high-cost debt that was coming due in 2016 and that the naysayers were sure would sink the company. GSO was very synergistic and complemented our other businesses well.. Prior to that, he worked for 14 years in Senior Hedge Fund operations positions for top tier firms, including IFS State Street and HSBC. 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. 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 Currently, Mr. Campbell is the Chairman of all of the Fund II portfolio companies, Michael Baker International, LLC, and The SPECTRUM Group, LLC. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. Previously she was a partner at Wall Street Technology Partners LP, a $125mm mid stage technology fund. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. Understanding Private Equity (PE) - Investopedia and co-managed the . Consider whether a potential portfolio companys business aligns with EagleTrees core values. Mr. McLellan joined Wasserstein Debt Opportunities Management, LP in 2017 as a Managing Director. 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. In 1987 the Los Angelesbased Milken called Goodman, who by this time focused on LBOs, telling him he should move to Beverly Hills and work for Friedman (who would go on to co-found hedge fund firm Canyon Capital Advisors). The next month Lehman Brothers Holdings filed for bankruptcy and all hell broke loose. Its a different kind of satisfaction walking into the CIOs office for the Bass brothers.. When the high-yield market trades at highs, we put out less capital, says Ostrover. Our close-knit team shares 70 years of combined specialist experience gained at leading private equity and investment firms. *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. He was CEO since the firms formation in 2001 through 2012. . Offered through a separated managed account platform exclusively for family offices and institutional investors, Proven regulatory capital efficient solution for insurance companies, #1 performing leveraged loan strategy inception to date in the eVestment database (out of 60 funds). View full details. He holds a BA in Finance from the American University of Cairo and an Executive Education in Corporate finance from London Business School. 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. 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. In 2008, Mr. Parsons served as a member of then-President-Elect Barack Obamas Economic Transition Team. Zacharys advisory experience was developed within the investment banking divisions of UBS and Goldman Sachs in New York and Johannesburg. The EagleTree Capital team is currently investing its fifth private equity fund, EagleTree Partners V, with over $1.1 billion of committed capital. A month after its launch, GSO hired Donald (Dwight) Scott, who ran the energy practice at DLJ before joining El Paso Corp. in 2000. More. Original price $69.99. While at AGM, Mr. McLellan analyzed event-driven long/short equity and credit, distressed-for-control, private leveraged buyouts and private minority investments in a variety of sectors. 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. Blackstone Groups GSO Capital: Lenders of Last Resort. The EagleTree Capital team is currently investing its fifth private equity fund, EagleTree Partners V, with over $1.1 billion of committed capital. Private equity firms close in on Wasserstein's ALM | Reuters Before becoming President and Chief Investment Officer of Wasserstein Debt Opportunities Management, LP, in 2013, Mr. Bagaria was a Partner and Investment Committee member of Apollo Investment Management (Apollo), the investment manager of Apollo Investment Corporation (AIC), a publicly traded business development company. Ryan Mollett, a 34-year-old managing partner who joined News group from BlackRock in 2011, wrote a paper late that year asserting that the housing market had bottomed. 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. GSO founders Bennett Goodman, Tripp Smith and Douglas Ostrover have become a key source of capital for non-investment-grade companies struggling to get financing, and in the process they have made a lot of money for themselves; their parent, Blackstone Group; and their investors. At the same time that GSO is capitalizing on the void left by banks, it is also benefiting from historically low interest rates and unrelenting investor demand for credit investments. 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. At the same time, the platform gives it a lot of different eyes into potential investments. 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. Mr. Jones received his MBA from the Yale School of Management and his B.S. To be sure, Blackstone is not the only manager to have smelled opportunity in the financing void. He also serves on Semper Capitals Risk Management and Compliance committees. Today it offers $27billion in alternative-investment funds, including the now $4billion hedge fund, $8billion in mezzanine funds financing buyouts for private equity $8billion in rescue lending and $7billion in small-cap direct lending. Wasserstein, who was immortalized in a 1989 Forbes cover story that cemented his infamous nickname, had a passion for the media, having interned at Forbes during his student years in 1969. Afsane JethaUntitled Goodman is the storyteller of the group, Ostrover is Mr. Markets, and Smith wants to stay out of the limelight and just do deals. As a result, the high-yield and leveraged-loan markets never developed in Europe to the extent they did in the U.S. In 2007, Merrill Lynch & Co. took a minority stake in GSO and the firm had its first closing for a new mezzanine fund. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). Mr. Bagaria joined Apollo as a Principal in June 2004, two months after AIC held its initial public offering, and later was promoted to Partner. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. You had to figure things out and use your smarts instead of brute strength, Smith, 47, says. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. PWP provides strategic, financial and process advice to Directors and other fiduciaries in connection with transactions where there is an actual, apparent or potential conflict. Private Equity. Prior to joining Alta Semper, she was an Associate at Cordiant Capital, an emerging markets fund manager based in Montreal, where she conducted financial analysis and due diligence, worked on structuring and executing direct lending deals in TMT (Technology, Media & Telecom), Structured Trade Finance and Specialty Financial Services in EMEA, Latin America and Southeast Asia. Depending on the product, GSO has a host of competitors, including Apollo Group Management; Ares Capital Corp. (an Apollo spin-out); Avenue Capital Group; Carlyle Group; Goldman, Sachs & Co.; J.P. Morgan Asset Managements Highbridge Capital Management; KKR & Co.; Oaktree Capital Management; and TPG Capital. During his time at the IFC, he advised on the first PPP in the West Bank. The new power brokers in the financial industry are money managers and investors like GSO, which control real assets. 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. Orkila Capital Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. Blackstone allowed us to take our business from being three years old to ten overnight, Ostrover says. and co-managed the company for five years until its merger. Funds advised by Apax Partners announce the sale of ALM Media to Working directly with CEO, funds . Ostrover, now 50, who helped build the leveraged-finance business at investment bank Donaldson, Lufkin & Jenrette during the 1990s, explained his idea for solving Hovnanians liquidity problems. The defanged banks are receding into the background and making peace with new regulations designed to emasculate their balance sheets. Liverpool legend Roberto Firmino has offered himself to FC Barcelona through his agent, according to a report. Prior to joining Sheffield, Mr. McLellan worked at Apollo Global Management, LLC (AGM) from 2004 2010. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 as an Associate. News team looks for companies going through some sort of upheaval, such as a covenant breach, debt maturation, regulatory change, bankruptcy or a legal dispute like MBIAs battle with BofA. Bruce Wasserstein (1947 - 2009) - Genealogy - geni family tree Shortly thereafter Ostrover assumed responsibility for leveraged finance and Smith joined Goodman in the alternatives group. 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. But things were changing, and they would get their chance soon. from the University of California at Berkeley. While our focus is primarily on control equity investments, we have invested successfully across the entire capital structure spectrum, taking positions in preferred stock and various debt securities with compelling risk / return profiles. We want to buy you.. Prior to this endeavor, she built a rich resume in the financial services sector, specifically working with private equity investment. We have a reputation for identifying and . Wasserstein & Co. - Private Equity Company Info Description:Wasserstein & Co. is a private equity company based in New York, NY and has approximately $300 million in assets under management. High cash-on-cash returns with capital appreciation potential. Wasserstein purchased The American Lawyer, which he later sold, and New York magazine, which remains under his family's control. Therefore, EagleTree may incorporate and alter different elements of this Policy for different portfolio companies across the stages of the investment management process, including during pre-acquisition, throughout ownership, and when positioning a portfolio company for an exit. Mr. Bagaria is the Advisors President and Chief Investment Officer. 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. 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. About - Swiftmile GSO founders Goodman, Ostrover and Tripp Smith have emerged as lenders of last resort, filling the gaping financing void left by banks and opportunistic hedge funds in the wake of the 200809 financial crisis. With nearly 400 . EagleTree continues to encourage all of its employees to actively engage in nonprofit volunteer activities and giving in our communities. Traders betting against the company lost money. Updated June 5, 2014, 1:21 p.m. | An investor consortium led by Wasserstein & Company announced on Wednesday that it bought back ALM Media, which publishes The American Laywer and other titles, from its current owners, Apax Partners and the Royal Bank of Scotland.. Terms aren't expected to be disclosed, but a person briefed on the matter said the price was about $417 million. Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. EagleTree believes its collaborativeapproach toinvesting createsvalue across a defined set of initiatives developed in partnership with portfolio company management. This Wasserstein & Co. works on 31 percentage points more the average amount of lead investments comparing to the other organizations. Zachary has an MBA from The Wharton School at the University of Pennsylvania and a BA in Economics from Cornell University. 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. All Rights Reserved. Mr. Bagaria is a co-founder and serves on the Board of Directors of The Manitou School, a private elementary school located in Cold Spring, New York. Journal Report. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. Portfolio, This content is from: Dresdner buys Wasserstein in $1.4 billion deal - Sep. 18, 2000 Indeed, when Hovnanian announced the land banking deal on July 13, 2012, its stock rose, its senior secured debt traded up from 84 to 97 cents on the dollar, and the price of the CDS contracts collapsed. Investments can also be shared. Ostrover, who has a BA in economics from the University of Pennsylvania and an MBA from New York Universitys Leonard N. Stern School of Business, was ranked the No. After earning his MBA in 1984, the Miami-born Goodman took a full-time job with Drexel in New York. An Heir Who's Ready to Take the Reins at New York Magazine In August the group put up $1billion in equity to buy a portfolio of busted bridge loans from Deutsche Bank, with the German bank providing 3-to-1 leverage. As a result of the cumulative research among the different Blackstone groups, private equity bought $220million of nonperforming residential loans, the real estate team purchased $1.4billion of single-family homes to lease, and GSO invested in Hovnanian. We, on the other hand, want to own the risk.. 2023 Forbes Media LLC. How has the Suns' new starting group performed? GSO is hoping to be a big part of the transformation. EagleTree Capital has taken into consideration a variety of representative policy documents, including the United Nations Principles for Responsible Investment, in the development of our Environmental, Social and Governance (ESG) Policy. Smith had joined Salomon from Drexel, leaving with a group during the bankruptcy. 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. Most PE firms are open to accredited investors or those who are deemed high-net . With no bank willing to lend to it, the Red Bank, New Jerseybased homebuilder had become a target for short-sellers; investors were betting billions of dollars in credit default swaps that the company Hovnanians father and three uncles had founded in 1959 would go belly-up. While Goodman loves to talk, Ostrover has to be pressed for details. 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. 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. Goodman liberally quotes from his uncle, Skip Bertman, a former head coach at Louisiana State University who has the best baseball record in the National Collegiate Athletic Association and who took an influential role in Goodmans life after his father passed away when he was five years old. While at AGM, Mr. McLellan analyzed event-driven long/short equity and credit, distressed-for-control, private leveraged buyouts and private minority investments in a variety of sectors. 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.

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