Wasserstein & Co. - Company Database | Wall Street Oasis [9], Wasserstein Perella advised Axa Financial in the $11.5 billion sale of Donaldson Lufkin & Jenrette to Credit Suisse First Boston in 2000, Philip Morris in its $14.9 billion acquisition of Nabisco Holdings Corp. and Time Warner in its $128 billion merger with America Online. Private Equity. He holds an AB from Princeton University. GSOs flagship hedge fund takes an activist or event-driven approach to credit. 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. What Is Private Equity? - Forbes Advisor Two years out of the University of Notre Dame, he witnessed firsthand the toll Drexels failure took on senior managers whose wealth had been tied up in its stock. Former partner at Wall Street Technology Partners and former Director of Dresdner Kleinwort Wasserstein Private Equity Group. 2005-2023 Wall Street Oasis. Premium. He spent five years there, toiling on ten to 12 deals a year all of them different in a culture that rewarded Street smarts and a maniacal work ethic. Wasserstein Partners Acquires Northstar Travel Group - Folio: An Heir Who's Ready to Take the Reins at New York Magazine Morants agent denied previous allegations he hit and flashed his gun at a teenager suggesting they were made to tarnish his reputation. He was CEO since the firms formation in 2001 through 2012. View full details. degree in Individualized Study at New York University with studies at the London School of Economics, graduating cum laude. He might have been young, but it was like a pro coming into an amateur team, adds James, who then ran DLJs investment bank. Prior to joining Alta Semper, he was a Senior Associate at Matouk Bassiouny in Cairo, Egypt (a leading regional law firm). Its amorphous, and you dont know the people. Our close-knit team shares 70 years of combined specialist experience gained at leading private equity and investment firms. Mr. Lauder has long been committed to civic causes, public policy issues and has pursued impact investments in Africa since 2012. Dresdner buys Wasserstein in $1.4 billion deal - Sep. 18, 2000 The company offers its corporate, government, and institutional clients a variety of capital markets products and services, including short-term products and treasury, equity products, rates, credit products, foreign exchange debt origination, sales and marketing, research, risk . A -. Mr. Jones received his MBA from the Yale School of Management and his B.S. Working directly with CEO, funds . He has done extensive work on the implementation of precision medicine in the developing world. He subsequently established the investment bank boutique Wasserstein Perella & Co., which he later sold . The EagleTree Capital team is currently investing its fifth private equity fund, EagleTree Partners V, with over $1.1 billion of committed capital. Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. Every Monday the investment staff meets to go over ideas and review the pipeline. 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. This is bolstered by our expert shareholder base, which brings experienced strategic and operating partners to our transactions and best-in-class management teams. 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. Work with portfolio companies to address ever-changing cyber-security considerations. What the SPR Refill Means for Oil Futures, The Radical, Lucrative, and Controversial Company Hiding in Stephen Schwarzmans Pocket, Oats: From the Original Energy Contract to Trendy Dairy Alternative, Modern Slavery Act Transparency Statement. Over the last 30 years, Mr. Campbell has served as a member of the Boards of Directors of public and private companies operating both within the US and globally and for numerous investments while at Wasserstein & Perella Co., Veritas Capital and DC Capital. GSO and Blackstone announced the deal in January 2008. 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. Victoria Grace is a founding partner of Colle Capital Partners LP, an opportunistic, early stage technology venture fund. 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. 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. Credit jumped off the page.. Ostrover asserted that not only would the market react positively to the initial financing but that the GSO-Blackstone brand would signal that there could be more behind it. Current market conditions are setting the stage for a lot of future opportunities for GSO. Under Blackstone, GSO has the heft to write big enough checks to fully finance a solution, reducing a companys need to find additional capital elsewhere. This means that every time you visit this website you will need to enable or disable cookies again. Between 2005 and 2012, GSOs assets grew at a compounded annual rate of 29 percent. In February 1990, Drexel filed for bankruptcy; two months later Milken pled guilty to lesser charges, agreeing to pay a $600million fine and serve ten years in jail. 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. 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. 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 firm seeks to . From 2002 2004, Mr. McLellan worked as an analyst for Deutsche Bank focusing on Mergers & Acquisitions and Media Investment Banking. 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). Blackstones acquisition of GSO has been an undisputed winner. There was little room for error. His company had been bleeding money for six years and had used up every penny of its capacity to issue secured debt. Mr. Bagaria began his career in the leveraged finance market in 1999. In this regard, EagleTree has adopted a Diversity & Inclusion Statement and, in 2021, became a signatory to ILPAs Diversity in Action Initiative. EagleTree seeks to improve diversity and inclusion within the Firm, across its portfolio company investments and in the private equity industry, where possible. At that time, Drexel had a lock on the business. Currently, Mr. Campbell is the Chairman of all of the Fund II portfolio companies, Michael Baker International, LLC, and The SPECTRUM Group, LLC. corporate development. With assistance from the ESG Sub-Committee and outside ESG specialists, as appropriate, EagleTrees deal teams will manage and monitor material ESG issues that have been identified during portfolio company ownership. Sustainable Business. The Amazon Prime Video show's creative team reveals how a bidding war, authenticity, and passion fueled the adaptation of the best-selling novel. He also has experience as an investment banker at New York boutique Wasserstein . Thoughtful Electronics and Accessories for Smart Homes | Market leader and accessory manufacturer of smart home products such as Google Home, Nest . She is a graduate of the University of Pennsylvania's Wharton School where she earned her BS in Economics. Private equity is composed of funds and investors that directly invest in private companies , or that engage in buyouts of public . Wasserstein family - Forbes Funds advised by Apax Partners announce the sale of ALM Media to 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. At Goldman, Mr. Bagaria worked primarily as an investor of GS Mezzanine, the largest mezzanine fund globally. She co-founded Work It, Mom! Mr. Montana joined Wasserstein Debt Opportunities Management, LP in 2014 as a Finance Associate. The following March, Milken was indicted for racketeering and securities fraud. Today, the firm manages approximately $2 billion of capital on behalf of institutional and individual investors, including public and corporate pension funds, foreign governmental entities, endowments and foundations and high net worth individuals. Ting-Li Wang/The New York Times. In 2004, he added New York Magazine to his media empire. Duties include reviewing potential transactions, analyzing investor and partner needs, analyzing and making financial decisions, and preparing reports. Mr. Campbell received a B.S. Wasserstein controlled Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. Prior to joining Semper Capital, Greg served as Founding and Managing Member of CP Capital Partners, LP. In the U.S. banks provide about 30 percent of lending, with capital markets and investors providing the remainder. [1], In a 2007 New York Times article, Perella was described as "one of the financial industrys sharpest recruiters" who "discovered and helped train" Wasserstein Perella. Fully 80 percent of GSOs senior management team is from DLJ. 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. The EagleTree Team has worked together for over 25 years. Mr. Kelsey earned a B.S. 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. 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. Although they enjoyed being their own bosses, they missed the prestige, and the deals, that came with being part of a big organization. GSO was an early investor in the shale gas industry, which has been whipsawed by volatile pricing and other events. We stand on this very busy street corner and see all this activity, says customized credit strategies partner Daniel Smith. Though hurt by the financial crisis, Blackstone and GSO have emerged as dominant players in its aftermath. Goodman and Ostrover joke that Smith was responsible for DLJs success. 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. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. The firm, which has a competitive advantage by doing most of its own loan originations and investing in companies that are No. Prior to that time he was a Senior and Founding Member of the Merchant . 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. 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 September 1988 the Securities and Exchange Commission sued Drexel for insider trading and stock manipulation. Wasserstein Home | 849 followers on LinkedIn. The up-gunned, tracked MT-LBs are further evidence of the Kremlins worsening equipment crisis as it struggles to make good its losses in Ukraine. Wasserstein Debt Opportunities | LinkedIn The company initially approached Blackstones private equity group for a $500million infusion of equity, but it wanted a controlling stake and Sony wasnt about to do that. All HLS students are permitted to meet one-on-one with Wasserstein Fellows. Wasserstein Debt Opportunities specializes in US high yield investing, seeking to capitalize on price inefficiencies in non-large cap issues and underfollowed opportunities through a value-based and process-driven approach. 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 has strong personal and professional ties to East Africa being a fourth generation Tanzanian. Ahmed joined Alta Semper in 2018 as a Director. 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. Work with portfolio companies to integrate sustainability considerations into their business plans, as applicable. 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. Thats where you wanted to land a job if you were a Harvard Business School student. 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. Credit Suisse bought DLJ for $11.5billion in 2000 and combined the firm with its New Yorkbased investment banking unit, Credit Suisse First Boston. Since the financial crisis investment banks have been deleveraging and governments around the world have imposed stricter capital requirements on financial institutions, as the U.S. is doing with the Dodd-Frank Wall Street Reform and Consumer Protection Act. The ESG Committee will meet at least quarterly. GSO and Blackstone actively share information. As a result, the high-yield and leveraged-loan markets never developed in Europe to the extent they did in the U.S. 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. 1185 Avenue of the Americas, 39thFloor GSO had partnered with TPG to buy a $2billion portfolio of bridge loans from Citigroup. The approximately $4billion portfolio was distributed across GSOs own funds as well as Blackstones private equity portfolios. The firm financed Sonys deal to buy EMI, giving the Japanese electronics maker access to a music catalog that included more than 200 songs by the Beatles. Hovnanian, for his part, was not convinced that the market would react as positively as Ostrover suggested. He serves on the Board of Directors of USO Metro and the Board of Trustees of the Pomfret School. Original price $69.99. A Fundamentally Different Kind of SPAC | Nasdaq 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. This Wasserstein & Co. works on 31 percentage points more the average amount of lead investments comparing to the other organizations. Private Equity Resume Sample The overall number of key employees were 2. 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. . In the 1990s, GSOs three founders, then working for Hamilton (Tony) James at DLJ, took up where Drexel left off, building that firm into the No. Mr. Jones is currently Chairman of Wasserstein & Co. I fell for it hook, line and sinker, says Goodman. 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. Approach prospective clients and partners; make presentations. Contribute to the database and get 1 month free* Full online access! 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. The then-54-year-old CEO figured he had little to lose by listening to Ostrovers pitch. PDF Private Equity Firms in Southern California - Los Angeles County 1 or 2 in their markets, looks at about 1,000 deals every year and completes fewer than 5 percent of those. 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. Mr. Jones received his MBA from the Yale School of Management and his B.S. The stock rose 170 percent between July 2012 and the end of the year. How Bruce Wasserstein Became The "Buyout Guru" - Finance Friday When the high-yield market trades at highs, we put out less capital, says Ostrover. 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. 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). 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. 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 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. Bagaria is the Advisors President and Chief Investment Officer. 300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses. Wasserstein Debt Opportunities - PitchBook Data Ibrahim joined Alta Semper in 2021 as a General Counsel. We are using cookies to give you the best experience on our website. He currently serves on the Board of Governors of the Middle East Institute and is a former Vice Chairman of the organization. Perella Weinberg Partners 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. The strategy of Alta Semper is to invest flexible and strategic capital into market-leading business models in the . Mr. Jones is currently Chairman of Wasserstein & Co. Consider whether a potential portfolio companys business aligns with EagleTrees core values. 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. Afsane is tiedpersonally and professionallyto East Africa as she is a fourth-generation Tanzanian. 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. Our investment activities are focused on middle-market leveraged buyout investments and related investment activities. There is a wealth transfer going on from banks shareholders to the investors in our funds, says Goodman. But Goodman shunted humility aside at least temporarily during his lunch with Moran. All Rights Reserved. Many investors wouldnt know how to approach that.. Though he loved working on Wall Street, particularly at DLJ, Goodman wanted to spend all his time investing. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Mr. McLellan began his career in direct investing in 2004. 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. 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. Former Senior Vice President of North America Sales at Genesys. In one of the largest B2B media transactions this year, Northstar Travel Group, which provides a broad array of products in the retail and corporate events markets, was sold from one private-equity firmthe Wicks Groupto another, Wasserstein Partners, Northstar CEO Thomas Kemp said today. Smith calls Europe a huge opportunity maybe a little like what Milken saw in the 1980s and DLJ in the 90s. Wasserstein Perella & Co. Wiki - everipedia.org The Retail, Wholesale and Department Store Union (RWDSU), yesterday said that, at REI Inc. in Cleveland, Ohio, have voted to join the RWDSU, making this the third unionized REI store in the U.S. In 2007, the peak for the firms performance fees, private equity contributed the bulk of the total. 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. Credit geeks Goodman, Ostrover and Smith nonetheless went to Blackstones extravagant road show at New Yorks Pierre hotel in the spring of 2007, the first time that granular detail about the private equity firm was available to the public. 1 salesperson by a third-party consulting firm, and Goodman and Moran decided to steal him away the day the news came out. EagleTree continues to promote diverse perspectives. If you're happy with cookies click proceed. If youve been out in the battlefield for seven years, being shot at constantly, you dont know what to do if the bullets stop flying, he told Ostrover, who left the lunch uncertain whether the CEO would agree to his plan. 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. 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. Instead, banks dominated the leveraged-finance markets, with few institutional buyers such as high-yield mutual funds. What the three founders have built at GSO, they originally planned for CSFB. [2], Perella left the firm for Morgan Stanley in 1993. (The sentence was later reduced to two years.). 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. Wasserstein & Co. is an independent private equity and investment firm, focused on middle-market leveraged buyout investments and related investment activities. 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. James Coulter, co-founder of private equity firm TPG, says the opportunity is much more attractive for managers and investors now that banks which threw cheap money from depositors at troubled companies financing problems and pocketed the profit are not in the mix. We partner with entrepreneurs with the goal of building great brands.