Wasserstein Debt Opportunities | LinkedIn Ronald S. Lauder is an international philanthropist, diplomat, public servant, entrepreneur, investor and patron of the arts. Prior to joining Wasserstein Debt Opportunities Management, LP he was Senior Product Manager at J.P. Morgan for three years in their Hedge Fund services business in the United States. 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. 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. Well before the downgrade of the U.S.s credit rating in August 2011, GSO was busy preparing for the possibility that markets would freeze up if the rating agencies made good on their threats. That makes GSO Blackstones fastest-growing business in terms of both earnings and assets. Identify any business line that would cause us to refuse to invest, including: (i) the manufacture or sale of handguns, assault weapons and/or ammunition; (ii) the distribution or sale of pornography; (iii) the direct and primary production or packaging of tobacco or alcoholic beverages; (iii) the production, sale, trade or distribution of illegal drugs; or (iv) a business that would pose a high reputational risk to EagleTree, its clients and/or other stakeholders. By Stephen Grocer. It was the first of many overtures Blackstones executives would make to him. GSO is actively managing the leveraged-loan ETF, the first of its kind. 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. (5) Wasserstein. This was more like a family reunion than an acquisition, says Schwarzman. I fell for it hook, line and sinker, says Goodman.
Bruce Wasserstein Net Worth | Celebrity Net Worth Prior to that time he was a Senior and Founding Member of the Merchant . They do it because they cant get the capital otherwise. And many companies say GSO doesnt scrape every penny out of a deal. About Wasserstein & Co. Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. Mr. Jones is currently Chairman of Wasserstein & Co. Debt opportunities management delivered through partnership, visionand experience. But that is likely to change as banks shed assets to deleverage and companies need capital. [2] One First Boston analyst, Paul Mecurio, left corporate life to become a comedian. But its deals remained small, providing funding for companies like Pacific Lumber and Caff Nero, a U.K. coffeehouse chain. He was appointed Chief Compliance Officer in January 2017.
Executive Team - mClinical Technology In all cases the company would likely be giving up control at the bottom of the market. The firms mezzanine fund has one of the best records in the industry, up an average of 19.9 percent a year net since inception in July 2007. Prior to that, among other positions, Victoria Grace was a partner at Wall Street Technology Partners LP, a mid-stage technology fund, from November 2000 to February 2014, and a director of Dresdner Kleinwort Wasserstein Private Equity Group from November 2000 to October 2004. Most PE firms are open to accredited investors or those who are deemed high-net . 2005-2023 Wall Street Oasis. Wasserstein Debt Opportunities is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. Heres How To Trade The Stock Now, NBA Investigating Ja MorantGrizzlies Star Allegedly Flashed Gun On Instagram After Reports Of Violent Behavior, Liverpool Legend Roberto Firmino Reportedly Offers Himself To FC Barcelona, A Century Of Women, Work - And Juggling Family, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Through this process, however, I feel like just getting a gig in any respectable private equity shop is tough -- and even though I came from a top 5 school and currently work in equity research at a bulge bracket, I still feel like I'm pretty low in the "pecking order" when it comes to recruiting simply because there are so many bankers trying . The then-54-year-old CEO figured he had little to lose by listening to Ostrovers pitch. 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. 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. Previously, Mr. Montana worked at State Street Investment Management Services where he was responsible for fund administration in Global Emerging Markets. Mr. Wasserstein died in 2009. Our investment activities are focused on middle-market leveraged buyout investments and related investment activities. She holds a BCom in Economics and Finance from McGill University and speaks English, Arabic and Armenian, and is proficient in French. 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. Hovnanian, for his part, was not convinced that the market would react as positively as Ostrover suggested. 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. Mr. Parsons was named Americas Best CEO in the entertainment industry by Institutional Investor in 2005. He is fluent in Arabic, French and English and is based in Alta Sempers Cairo office. Click here. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. The trio had remained close to James after he left DLJ for Blackstone, and they knew he was interested in striking some type of deal. Previously, Mr. Montana worked at State Street Investment Management Services where he was responsible for fund administration in Global Emerging Markets. 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. All Rights Reserved. 1185 Avenue of the Americas From 2002 2004, Mr. McLellan worked as an analyst for Deutsche Bank focusing on Mergers & Acquisitions and Media Investment Banking.
Wasserstein & Co. to Buy Back American Lawyer - DealBook Wasserstein & Co., the private equity firm founded by the late Bruce Wasserstein who also bought New York magazine in 2003, has made a deal to acquire satellite communications giant Globecomm Syst 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. What are the main benefits of having another shot creator and off-ball spacer of Durant's caliber? Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. The strategy of Alta Semper is to invest flexible and strategic capital into market-leading business models in the .
Bruce Wasserstein (1947 - 2009) - Genealogy - geni family tree Stephen M. Sammut is a Senior Fellow in Health Care Management and a Lecturer in Entrepreneurship at The Wharton School of the University of Pennsylvania where he has taught over 11, 000 students in the last 25 years.
Wasserstein & Co. - Company Database | Wall Street Oasis
Its a different kind of satisfaction walking into the CIOs office for the Bass brothers.. Key Takeaways.
Wasserstein closes biggest fund to date - Private Equity International The deal wouldnt have happened without Goodman, Smith and Ostrovers former boss, Tony James, who had joined Blackstone as president in 2002 after Credit Suisse bought DLJ and who manages the firms day-to-day operations. 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.While working at Sheffield from 2010 2016, Mr. McLellan led many of the largest positions analyzing long/short equity and credit investments. 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. EagleTrees ESG initiatives will be overseen by its ESG Committee, which includes EagleTrees two Co-Managing Partners and other members of senior management. from the University of California at Berkeley. Houston-based Scott oversees GSOs energy group. Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. Over time GSO would sell the land back to the homebuilder. Though DLJ investment banking staffers left in droves after the deal including James, though he stayed two years as part of the merger agreement Goodman, Smith and Ostrover flourished. Zacharys advisory experience was developed within the investment banking divisions of UBS and Goldman Sachs in New York and Johannesburg. GSO and Blackstone actively share information. from the University of California at Berkeley.
Dresdner Kleinwort Wasserstein - Company Profile, Information, Business Afsane Jetha started her career in finance at Merrill Lynch and Wasserstein Private Equity before gaining additional experience at Permira in London as part of the consumer team. Tailor specific ESG inquiries and approaches based on various investment factors including the core industry sector of a particular investment. Alta Semper Capital Exits Egypts Macro Group Pharmaceuticals with the Successful Conclusion of its IPO, Alta Semper considers healthcare investment opportunities in Egypt, The Head of the Egyptian Macro Group told Al-Sharq: We are studying the acquisition of a local company in 2022. You should only be asked to sign in once. Every Monday the investment staff meets to go over ideas and review the pipeline. In Europe 70 to 75 percent of lending is done by banks. Private equity (PE) refers to capital investment made into companies that are not publicly traded. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. Prior to this endeavor, she built a rich resume in the financial services sector, specifically working with private equity investment. EagleTree believes that it is better positioned to address many of the issues facing our portfolio companies in a rapidly changing world when we proactively incorporate ESG considerations into our investment approach. Ibrahim holds a Bachelor of Laws and a masters degree from University of Paris I Panthon-Sorbonne, and a Bachelor of Laws from Cairo University. He recently served on the Boards of Directors of Harry & David, Encompass Digital Media, and Access Scientific. In 2007, Merrill Lynch & Co. took a minority stake in GSO and the firm had its first closing for a new mezzanine fund. He was CEO since the firms formation in 2001 through 2012. What the three founders have built at GSO, they originally planned for CSFB. Look, the market hates your company, he told Hovnanian. So the firm created the bridge loan, not promising capital but intended to tide the company over until it could obtain permanent financing. Mr. Kelsey joined Wasserstein Debt Opportunities Management, LP in 2013 as an Associate. EagleTree believes its collaborativeapproach toinvesting createsvalue across a defined set of initiatives developed in partnership with portfolio company management. Wasserstein Home | 848 followers on LinkedIn. More. 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. He subsequently established the investment bank boutique Wasserstein Perella & Co., which he later sold . Mr. Campbell is active in both geopolitical and philanthropic endeavors. GSOs flagship hedge fund takes an activist or event-driven approach to credit. Previously, Mr. Jones was Head of West Coast Investment Banking at Wasserstein Perella and, prior to that, was Managing Director at Salomon Brothers from 1988 through 1994.
Wasserstein Home | LinkedIn 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. As one of the largest creditors of MBIA and holders of its equity, GSO had a big win last month when the Armonk, New Yorkbased provider of municipal bond insurance finally settled a dispute with Bank of America Corp. after years of wrangling over troubled mortgage-backed securities. In 2008, Blackstone, looking to diversify, paid $1billion to acquire GSO, which then had a $3.2billion credit hedge fund, $500million in mezzanine investments and a $4.8billion collateralized loan obligation business. Board Observer, Founding Partner at Colle Capital, Former Partner Wall Street Technology Partners , Director Dresdner Kleinwort Wasserstein Private Equity Group Neil Devani, JD Board Advisor, Investor & Advisor of Singularity Holdings VC
Private Equity - Meaning, Investments, Structure, Explanation
He is credited with the term, Pac-Man defense, which is used by . Grace serves as the CEO of Queen's Gambit. 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. Original price $69.99. Afsane is tiedpe - Afsane Jetha @afsanejetha document.write(new Date().getFullYear()); Mr. Jones received his MBA from the Yale School of Management and his B.S. Mr. Dutton earned a Masters degree in Economics from University College Dublin and a joint Honors degree in Business and Economics from Trinity College Dublin. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. EagleTree recognizes that its approach to different ESG factors may vary among portfolio companies of different sizes, that fall within different industry sectors and that operate in different geographies.
Wasserstein & Co. - Crunchbase Investor Profile & Investments We pride ourselves on talent, integrity and intellect. During the road show, Blackstone disclosed its numbers, showing heft in private equity, real estate and funds of hedge funds, but credit was an afterthought, amounting to only about $5billion in assets. These initiatives and strategies include new product launches, entrance into new markets, add-on acquisitions and operational improvements. She co-founded Work It, Mom! The firm had purchased a small CLO group, run by Daniel Smith, from Royal Bank of Canada. Though the three are equal partners at GSO, Smith and Ostrover often defer to Goodman for the final word. Previously, he was the Managing Partner of the New York law firm Patterson, Belknap, Webb and Tyler.
Victoria Grace - Colle Capital We have a reputation for identifying and . 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. 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. 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. Afsane Jetha is the CEO and Managing Partner of Alta Semper Capital, a dedicated growth markets private equity manager, which she co-founded in 2015 alongside Ronald Lauder (Chairman of Clinique, Este Lauder Companies) and Richard Parsons (Former CEO of Time Warner Group). Prior to joining Sheffield, Mr. McLellan worked at Apollo Global Management, LLC (AGM) from 2004 2010. In 1993, Goodman hired Smith from Salomon Smith Barney, where he worked on restructurings. Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. 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. Greg began his career over 19 years ago and served as a Captain and Infantry Officer in the United States Marine Corps. degree in Individualized Study at New York University with studies at the London School of Economics, graduating cum laude. Private Equity Firms in Southern California Company Website Address Primary Contact Angeleno Group www.angelenogroup.com 2029 Century Park East Suite 2980 Los Angeles, CA 90067 . But the $1billion price tag the proceeds of which the partners rolled over into GSO funds and the potential to take advantage of what they thought would be a huge shift on Wall Street helped alleviate their concerns. At a bank youre working for anonymous shareholders, trying to make as much money as you can, he explains. Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. You can find out more about which cookies we are using or switch them off in settings. Chief Financial Officer and Chief Compliance Officer. All Rights Reserved. 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. We decided that the banking system is a mess globally, so lets raise some money to lend to more troubled private companies that cant tap the markets and dont have access to the banks, says Ostrover. Kenyas sole electricity distributor cited a system disturbance as a possible cause for the blackout. Many investors wouldnt know how to approach that.. 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). But they dont want to commit their capital. The GSO team is confident that the bright future investors are anticipating will lose its luster sooner or later, whether its because of inaction in Washington or rumblings from North Korea, Israel or Iran. After the market bottomed in 2009, GSO launched its first rescue lending fund, which closed at $3.3billion. Afsane speaks conversational French, Gujarati and basic Swahili. 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. degree in Business Administration from Western New England University with a concentration in finance. Morants agent denied previous allegations he hit and flashed his gun at a teenager suggesting they were made to tarnish his reputation. 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. 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. 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. Thats where you wanted to land a job if you were a Harvard Business School student. 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.
PE LBO Modeling Test | Wall Street Oasis With Drexel and Milken gone amid a recession, many market watchers thought high-yield financing would die. Previously, he served as an Associate Principal at McKinsey & Company in the Financial Services Group. 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. While Goodman loves to talk, Ostrover has to be pressed for details.
Afsane Jetha - Alta Semper Capital | SuperReturn Africa Speaker In 1992, Goodman hired Ostrover from Grantchester Securities, the high-yield arm of boutique investment bank Wasserstein Perella & Co., to run DLJ's sales and trading. We, on the other hand, want to own the risk.. All those covenant-lite loans will be great opportunities for GSO to step in at some point. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. We stand on this very busy street corner and see all this activity, says customized credit strategies partner Daniel Smith. In furtherance of this ethos and in accordance with our responsibilities to our clients and other stakeholders, EagleTree is committed to identifying and considering ESG issues, risks and opportunities associated with potential portfolio company investments and engaging with portfolio companies on these matters during our ownership.
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. The honeymoon was over quickly, though. [2], Perella left the firm for Morgan Stanley in 1993. He also has experience as an investment banker at New York boutique Wasserstein . Highlight the portfolio companys progress on ESG matters. The GSO team has been through the ups and downs of numerous credit cycles, and theyre always worried and trying to protect the downside, says Timothy Walsh, chief investment officer of the $74billion New Jersey Pension Fund, which has committed to $1.1billion in investments in five GSO funds. 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. 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. The firm seeks to . 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.
2007: Bruce Wasserstein, American Investment Banker, Businessman, and Alta Semper Capital LLP is a limited liability partnership registered in England and Wales under no. Summarize the positive impact that our integration of ESG initiatives had on the portfolio companys business and/or culture.
Wasserstein & Co. Portfolio Investments, Wasserstein & Co. Funds Douglas Ostrover, the O in GSO, invited him to lunch at Manhattans Core Club in July 2012, just as the U.S. housing market was showing a few signs of life. Our close-knit team shares 70 years of combined specialist experience gained at leading private equity and investment firms. 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.
Wasserstein Debt Opportunities Management, LP (WDO) is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds.