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He is fluent in Arabic, French and English and is based in Alta Sempers Cairo office. Dresdner Kleinwort Wasserstein - Company Profile, Information, Business In all cases the company would likely be giving up control at the bottom of the market. Copyright 2023. Its investments included City Ventures, a private homebuilder in Orange County, California, now planning to go public; EMI Music Publishing; Energy Alloys, a global provider of oil field metals; Spains Giant Cement Holding; and the U.K.s Miller Group. He later became CEO of Lazard Ltd, while at the same time sitting atop private equity firm Wasserstein & Co, which continues to operate. 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 . In addition, we remain committed to compliance with national, state and local labor laws in jurisdictions in which we invest and to provide a safe and healthy workplace consistent with national and local laws. 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. All those covenant-lite loans will be great opportunities for GSO to step in at some point. Goodman had never heard of the firm, but he distinctly remembers Frederick Joseph, Drexels CEO, passionately recounting how it financed entrepreneurs, married capital to ideas and was profoundly transforming whole industries. Upon his return from Vienna in 1987, he established the Ronald S. Lauder Foundation, which supports Jewish schools, camps and community centers in several countries in Eastern Europe. We love your company., (Ostrover had his own hard-luck family bankruptcy story: His grandfather had to shutter Ostrovers Smoked Fish on New Yorks Lower East Side in the 1950s following a blackout; he couldnt pay his creditors because his customers fish had rotted.). The Team | Alta Semper | Private Equity Firm She co-founded Work It, Mom! 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. degree in Finance and Government from the University of Notre Dame in 2002, graduating magna cum laude. Because of the regulatory environment, its harder for them to do that economically. 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. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). GSO now has offices in New York, London, Dublin and Houston. Bruce Jay Wasserstein (December 25, 1947 - October 14, 2009) was an American investment banker, businessman, and writer. Richard was also previously the Head of Private Equity - Americas for Siemens Financial Services, Inc. Richard has invested in and worked . But after his wife, Meg, refused to leave New York, Goodman quickly set his sights on DLJ, a midsize investment bank known for equity research and a certain scrappiness and entrepreneurial culture. A patron of the arts and a noted collector, Mr. Lauder was Chairman of the Museum of Modern Art from 1995 to 2005 and now serves as the museums Honorary Chairman. Dresdner buys Wasserstein in $1.4 billion deal - Sep. 18, 2000 At Apollo, Mr. Bagaria invested in several asset classes including senior debt, high yield bonds, mezzanine finance and equity. Legacy ABOUT WASSERSTEIN. This was more like a family reunion than an acquisition, says Schwarzman. Previously she was a partner at Wall Street Technology Partners LP, a $125mm mid stage technology fund. 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 GSOs returns have been top quartile. 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. From 2002 2004, Mr. McLellan worked as an analyst for Deutsche Bank focusing on Mergers & Acquisitions and Media Investment Banking. Marina joined Alta Semper in January 2019. degree in Finance and Government from the University of Notre Dame in 2002, graduating magna cum laude. Contribute to the database and get 1 month free* Full online access! Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. Commingled private fund exclusively for US and Non-US based qualified individuals, family offices and institutional investors, #1 performing high yield fund inception to date in the eVestment database (out of 200 funds), The strategy has outperformed a blended index of loan and high yield bonds by > 2.5x since inception. 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. Wasserstein & Co. manages capital on behalf of institutional and individual investors. Mr. Lauder also created Central European Media Enterprises, Ltd (NASDAQ: CETV), a leading commercial television company that reaches 95 million people in seven countries throughout Central and Eastern Europe. He also engineered a $479 million purchase of home security company SecurityLink by Chicago private-equity . 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. 39th Floor The next month Lehman Brothers Holdings filed for bankruptcy and all hell broke loose. But they dont want to commit their capital. GSO was an early investor in the shale gas industry, which has been whipsawed by volatile pricing and other events. EagleTree continues to encourage all of its employees to actively engage in nonprofit volunteer activities and giving in our communities. Contact Details Address:1301 Avenue of the Americas, 44th FloorNew York, NY 10019United States Phone/Fax:Phone: 212-702-600Fax: 212-702-635 Other Contact Details:Website: Afsane speaks conversational French, Gujarati and basic Swahili. 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. Premium. Its really hard for some people to be aggressive in times of disruption because you have to do your work beforehand, says partner Smith. Terms & Conditions. He has done extensive work on the implementation of precision medicine in the developing world. Blackstone allowed us to take our business from being three years old to ten overnight, Ostrover says. Process, was the least enthusiastic about the tie-up, concerned that they were trading away their autonomy. Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. GSO is actively managing the leveraged-loan ETF, the first of its kind. degree in Business Administration from Western New England University with a concentration in finance. Ara Hovnanian, CEO of Hovnanian Enterprises, knew little about GSO Capital Partners before the credit-oriented alternative asset manager offered the struggling homebuilder a lifeline last year. Prior to joining Sheffield, Mr. McLellan worked at Apollo Global Management, LLC (AGM) from 2004 2010. 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. In contrast, GSO will take a minority stake, a seat on the board and a debtlike investment that pays a big double-digit coupon, but it will let management retain control. Smith, who calls himself Mr. He is a CFA charterholder. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 as an Associate. Prior to founding Alta Semper, Afsane spent nearly five years with the Duet Group as the Managing Director of the firms African Private Equity platform, investing nearly US$200m across Sub-Saharan Africa. The 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. 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. Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. Mr. Campbell is active in both geopolitical and philanthropic endeavors. Wasserstein purchased The American Lawyer, which he later sold, and New York magazine, which remains under his family's control. [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. 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 . We, on the other hand, want to own the risk.. Wasserstein Home | 849 followers on LinkedIn. . It was a good time for Goodman, Smith and Ostrover to start their own firm. He worked across the private equity life cycle including fund raising, new investments, portfolio management and exits. from the University of California at Berkeley. This website uses cookies so that we can provide you with the best user experience possible. 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. Private equity investors are by nature optimistic and swaggering, thinking every deal is a potential blockbuster. 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. As a consequence, banks want to syndicate risk into the market put together a road show and talk to 200 investors. Former partner at Wall Street Technology Partners and former Director of Dresdner Kleinwort Wasserstein Private Equity Group. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. Mr. McLellan joined Wasserstein Debt Opportunities Management, LP in 2017 as a Managing Director. When the high-yield market trades at highs, we put out less capital, says Ostrover. EagleTree continues to promote diverse perspectives. The approximately $4billion portfolio was distributed across GSOs own funds as well as Blackstones private equity portfolios. 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. March 29-30, 2023 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. Mr. Montana earned a duel B.S. 2007: Bruce Wasserstein, American Investment Banker, Businessman, and David Geffen is the Warren Buffett of the entertainment industry, and they understood the value of that to the deal, he explains. Wasserstein & Co. - Company Database | Wall Street Oasis 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. 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. Please check your spam or junk folder just in case. Portfolio, This content is from: 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. 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. RELATED STORIES Dresdner deal nearly done - Sept. 15, 2000 Prior to the IFC Ahmed developed his investment banking and corporate finance experience as a senior associate with Beltone Investment Banking, Ernst & Young and the Arab African International Bank. 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. 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 1980S,WALL STREEThad a clear pecking order. and co-managed the company for five years until its merger. 1 underwriter for high-yield bonds, a distinction it would keep for 12 years. Goodman states the obvious: No company does business with us because were such nice guys, though we like to think we are. 100%. Mr. Lauder was appointed Ambassador to Austria by President Ronald Reagan after serving several years as Deputy Assistant Secretary of Defence for European and NATO policy. Mr. Montana joined Wasserstein Debt Opportunities Management, LP in 2014 as a Finance Associate. Mr. Kelsey joined Wasserstein Debt Opportunities Management, LP in 2013 as an Associate. 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. Shortly thereafter Ostrover assumed responsibility for leveraged finance and Smith joined Goodman in the alternatives group. Convene 117 West 46th Street, New York, April 19-20, 2023 Martin Paev, CFA - Member of the Board of Directors - Sirma Group [8], In 2000, Wasserstein Perella ranked fifth in the U.S. as an adviser on mergers and acquisitions. Wasserstein controlled Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. He currently serves on the Board of Governors of the Middle East Institute and is a former Vice Chairman of the organization. You couldnt hope to compete because the banks were so aggressive, he says. or Want to Sign up with your social account? Northstar Travel Group acquired by Wasserstein - Wicks Group Mr. Lauder is currently the Chairman of Clinique Laboratories, a division of The Este Lauder Companies. 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. The tank plus-up, which Ukrainian ambassador to the United Kingdom Vadym Prystaiko announced on Saturday, should come as no surprise. Mr. Jones received his MBA from the Yale School of Management and his B.S. 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 . 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. 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. Summarize the positive impact that our integration of ESG initiatives had on the portfolio companys business and/or culture. 1185 Avenue of the Americas, 39thFloor During his time at the IFC, he advised on the first PPP in the West Bank. This ESG Policy (the Policy) amends, restates and supersedes EagleTrees ESG Policy that was first formally adopted in 2017. Many investors are quite cautious when evaluating entertainment deals especially institutions, says Rob Wiesenthal, then Sonys CFO and now chief operating officer of Warner Music Group. 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. Do you thrive in a challenging environment that combines intensity with collaboration? The EagleTree Team has worked together for over 25 years. 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. The private equity business of the investment firm was not included in the sale and was to be sold off to existing Wasserstein shareholders. On the strength of that bridge loan business, we built ourselves up into the leading firm, says James. The firm had purchased a small CLO group, run by Daniel Smith, from Royal Bank of Canada. She has worked for GI Partners, Merrill Lynch, Wasserstein Private Equity, and Permira in London. Its a different kind of satisfaction walking into the CIOs office for the Bass brothers.. He recently served on the Boards of Directors of Harry & David, Encompass Digital Media, and Access Scientific. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. After the market bottomed in 2009, GSO launched its first rescue lending fund, which closed at $3.3billion. With over 15 years of experience, the principals of Orkila seek to leverage their deep industry knowledge and . In the old days a bank might have been more willing to commit its balance sheet for long-standing clients, says Bennett Goodman, the 56-year-old G in GSO, who started his career at Drexel Burnham Lambert in the 1980s. 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. Marina is based in Alta Sempers Cairo office. If you're happy with cookies click proceed. The ESG Committee also aims to ensure that all EagleTree employees are aware of EagleTrees culture of social responsibility and any amendments to this Policy. Though he loved working on Wall Street, particularly at DLJ, Goodman wanted to spend all his time investing. Banks may no longer have the balance sheets, but big institutional investors like sovereign wealth funds, endowments and pension funds do. His company had been bleeding money for six years and had used up every penny of its capacity to issue secured debt. Funds advised by Apax Partners announce the sale of ALM Media to The EagleTree Capital team is currently investing its fifth private equity fund, EagleTree Partners V, with over $1.1 billion of committed capital. But although most Wall Street firms pulled out of the high-yield business, DLJ stayed in, doing some secondary trading and working with companies that felt they had been abandoned. Rescue lending has returned an annualized 15.2 percent since inception in September 2009. Lets face it, if a company can tap the public markets, they will, and theyll get a much better deal.. Balkan Advisory Company, Sofia, Bulgaria. 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. 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. 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. 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 group invented concepts such as payment-in-kind toggle bonds, with which an issuer can defer interest payments in return for a larger coupon in the future, and IPO carve-outs, whereby the parent company sells stock of a subsidiary to the public. Not the case? Prior to Cordiant, she gained advisory experience as a Summer Analyst with the Investment Banking and Equity Capital Markets teams at Scotiabank in Toronto. ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) POLICY, TermsofUse and Other Important Disclosure. 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 new power brokers in the financial industry are money managers and investors like GSO, which control real assets. After James joined Blackstone, Goodman took over CSFBs alternative capital division. A verification email is on its way to you. He began his business career in 1980 as a staff accountant at Coopers and Lybrand where he advanced to the position of tax manager, CPA, before his departure. and co-managed the company for five years until its merger. contact@wasserco.com. In 2008, Mr. Parsons served as a member of then-President-Elect Barack Obamas Economic Transition Team. We target investments of between $30 million and $150 million. In addition to his role at Semper Capital, Greg is on the Board of Pan African Investment Company, an early-stage venture capital investor in Africa, founded by Mr. Ronald Lauder and Mr. Richard Parsons. Prior to founding Colle Capital, Ms. 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. We target businesses across a broad range of media and business services subsectors, including: B2B, enthusiast, digital and consumer media; trade shows and conferences; marketing and content services, education; and outsourced services. Engage with outside advisors, as necessary, to analyze and address ESG issues, risks and opportunities that arise. 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. So the firm created the bridge loan, not promising capital but intended to tide the company over until it could obtain permanent financing. There is a place for capital formation at market rates of return and driven by problem solvers, explains Coulter. Wasserstein US Equity Partners IV | Palico There was little room for error. The firm seeks to . and co-managed the . These initiatives and strategies include new product launches, entrance into new markets, add-on acquisitions and operational improvements. 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. Alta Semper Capital LLP is authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 756838. Alice Katwan. Tudor, Pickering, Holt & Co. Securities - Canada, ULC is a Member of the Canadian Investor Protection Fund and the New Self-Regulatory Organization of Canada. Mr. Parsons was named Americas Best CEO in the entertainment industry by Institutional Investor in 2005. She holds a BCom in Economics and Finance from McGill University and speaks English, Arabic and Armenian, and is proficient in French. 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. With nearly 400 . Mr. Campbell received a B.S. The private equity business of the investment firm was not included . In this regard, EagleTree has adopted a Diversity & Inclusion Statement and, in 2021, became a signatory to ILPAs Diversity in Action Initiative. Mr. Jones is currently Chairman of Wasserstein & Co. At a bank youre working for anonymous shareholders, trying to make as much money as you can, he explains. PE LBO Modeling Test | Wall Street Oasis The high-yield and leveraged-loan markets never developed there like they did in the U.S. Hovnanian was the largest position in GSOs flagship hedge fund in 2012, and the firm made 50 percent on its capital in six months. 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. GSOs hedge fund invested in public securities, mezzanine debt and distressed debt and provided some rescue lending for companies going through liquidity problems. Mr. Bagaria was a board director of LVI Services, Inc., Generation Brands and Playpower, Inc. During the most recent recession, Mr. Bagaria was a manager of a multi-billion dollar senior loan vehicle. 17.5B Acquisition of Stake in Deutsche Telekoms German and Austrian Tower Business, $6B Acquisition of Ortho Clinical Diagnostics, $22.2B Combination with AT&Ts WarnerMedia, $525M Growth Equity Investment from Blackstone, $1.1B Senior Secured and Convertible Notes. He was CEO since the firms formation in 2001 through 2012. Performing, price-discounted debt that we expect to recover. OC403953. Wasserstein Home | LinkedIn For its drawdown funds alone, it committed $3billion to 26 companies. The latest messages and market ideas from Afsane Jetha (@afsanejetha) on Stocktwits. 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. All Rights Reserved. The firm, which has a competitive advantage by doing most of its own loan originations and investing in companies that are No. 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. Afsane Jetha on Behance She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group.

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