wasserstein private equity

Current market conditions are setting the stage for a lot of future opportunities for GSO. Ahmed speaks English and Arabic and is based between Cairo and London. Mr. Bagaria also held responsibilities related to secondary trading, investment team development, portfolio company work-outs and the development of Apollos energy lending and aviation investment platforms. 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. After about a year of fundraising, commitments from existing LPs reached $790m, surpassing the original $750m target. We have a reputation for identifying and . 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. This was more like a family reunion than an acquisition, says Schwarzman. Since 2008, Blackstone has more than doubled its assets. In 1988, Bruce established a private equity division of Wasserstein Perella & Co., called Wasserstein & Co., which he used to manage and invest his personal wealth and later, that of his family. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. How has the Suns' new starting group performed? Mr. McLellan joined Wasserstein Debt Opportunities Management, LP in 2017 as a Managing Director. and co-managed the company for five years until its merger. Approach prospective clients and partners; make presentations. 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. 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. Investment efforts are focused across threesectors: Focusing on brands, we target a wide range of consumer products, including personal care, food and beverage (including organic, natural and good-for-you), enthusiast/sporting, housewares and luxury products, among others. The stock rose 170 percent between July 2012 and the end of the year. Mr. McLellan was hired by Mr. Bagaria and initially worked within AIC from 2004 2006 before moving into the Strategic Value Fund. EagleTree has always strived to maintain a strong culture of good governance to ensure that it operates in a socially responsible manner. And it might be only the beginning of an even bigger U.K. commitment to Ukraines rearmament. Balkan Advisory Company, Sofia, Bulgaria. Wasserstein & Co. also manages a significant portfolio of debt and equity securities and other investments on behalf of our stockholders and other investors. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 as an Associate. In recent years, the firm has invested in pharmaceutical manufacturing, retail pharmacy, cancer care and diagnostics platforms in Egypt, Nigeria and Morocco. 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. Alexandria, VA 22314, 515 North Flagler Drive | Suite 1450 EagleTrees ESG initiatives will be overseen by its ESG Committee, which includes EagleTrees two Co-Managing Partners and other members of senior management. 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. In the meantime, it has cut back the pace of investments and is going after only the most compelling ones, in industry sectors including shipping, metals and mining, and natural gas. Our e-commerce site allows you to purchase electronic devices & accessories smoothly at a great value. He also serves on Semper Capitals Risk Management and Compliance committees. 1185 Avenue of the Americas We conduct our buyout investment activities through the Wasserstein Partners family of funds. Prior to that time he was a Senior and Founding Member of the Merchant . 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. 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. But unlike activist equity managers or loan-to-own credit funds, GSO doesnt seek to change management unless something goes wrong and it has no choice. The EagleTree Team has worked together for over 25 years. He began his career at The First Boston Corporation. EagleTree Capital, All Rights Reserved | TermsofUse and Other Important Disclosure, 1185 Avenue of the Americas, 39thFloorNew York, NY 10036. Every Monday the investment staff meets to go over ideas and review the pipeline. The approximately $4billion portfolio was distributed across GSOs own funds as well as Blackstones private equity portfolios. 1 leveraged-finance player, lending to blemished companies that were in some of the fastest-growing sectors of the U.S. economy, including energy exploration and homebuilding. degree in Individualized Study at New York University with studies at the London School of Economics, graduating cum laude. He holds a BA in Finance from the American University of Cairo and an Executive Education in Corporate finance from London Business School. Wasserstein Debt Opportunities Management, LP ("WDO") is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. A +. 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. Mr. Parsons was named Americas Best CEO in the entertainment industry by Institutional Investor in 2005. For its drawdown funds alone, it committed $3billion to 26 companies. and co-managed the . Blackstone Groups GSO Capital: Lenders of Last Resort. 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. GSO was an early investor in the shale gas industry, which has been whipsawed by volatile pricing and other events. And, yes, we've come a long way, baby! GSOs hedge fund invested in public securities, mezzanine debt and distressed debt and provided some rescue lending for companies going through liquidity problems. Prior to that time he was a Senior and Founding Member of the Merchant Banking Group of Wasserstein & Perella Co., Inc. since its inception in 1988. Hard work got him noticed at Drexel, as well as a meeting with Moran. Private equity investors are by nature optimistic and swaggering, thinking every deal is a potential blockbuster. Drexel had unwittingly passed the high-yield baton to DLJ. Fully 80 percent of GSOs senior management team is from DLJ. They do it because they cant get the capital otherwise. And many companies say GSO doesnt scrape every penny out of a deal. Upon Dresdner Bank's acquisition of Wasserstein Perella in January 2001, Wasserstein & Co. was spun off as an independent company owned by Bruce who . At the same time, Blackstone had relationships with almost every major institutional investor in the world, a group that had, on average, $200million in assets invested with the firm. He later became CEO of Lazard Ltd, while at the same time sitting atop private equity firm Wasserstein & Co, which continues to operate. While non-investment-grade companies need capital, investors need yield, and alternative credit strategies like those offered by GSO provide a much-needed boost to returns for bond portfolios. 1 and having a big firm behind them. He is fluent in Arabic, French and English and is based in Alta Sempers Cairo office. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. Leveraged loans offer a hedge against interest rates and can augment a largely xed-rate portfolio. 1 underwriter for high-yield bonds, a distinction it would keep for 12 years. Wasserstein Home | 849 followers on LinkedIn. 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. 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.). degree in Finance, Investment, and Banking from the University of Wisconsin, graduating with Honors. . The private equity business of the investment firm was not included . [2], Perella left the firm for Morgan Stanley in 1993. 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. Click here to register, Not for publication, email or dissemination, When it comes to private wealth, PE is still an unknown name, PE outperformed in US state pension portfolios over past two decades report, Side Letter: LPs biggest concerns; growing family offices; Bains VC vindication, Indiana Public Retirement System commits $450m to PE. In contrast to the few traditional deals a year that a junior banker at Goldman might work on, Goodman cut his teeth on such unusual transactions as KKRs investment in Union Texas Petroleum Holdings in 1985 and Maxams 1986 takeover of Pacific Lumber Co. For the latter he and Joshua Friedman, then head of the capital markets group at Drexel, came up with a term sheet for a zero-coupon increasing-rate note whose complexity and model they still laugh about. Its not the Wild West, not the personality-driven days of 20 years ago. Prior to Duet, she was at GI Partners where she executed several transactions in the healthcare, consumer and real-estate sectors. The fund, which launched in August 2015 with a $750 million target and no hard-cap, is the largest fund to date for the firm. But Goodman shunted humility aside at least temporarily during his lunch with Moran. The Capital Solutions Fund GSOs rescue lending vehicle is an object lesson in the maturation of alternative credit. GSO was also overly dependent on Merrill Lynch and Credit Suisse, both of which were starting to feel pressure in the early days of the subprime crisis. 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. 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. Goodman states the obvious: No company does business with us because were such nice guys, though we like to think we are. GSO also bought the debt of Clear Channel Communications, a private-equity-owned media company, and led a $1.25billion preferred stock deal for Chesapeake Energy so that company could develop natural-gas production from shale in eastern Ohio. 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. Marina joined Alta Semper in January 2019. Now the emergence of alternative credit mirrors tools that equity investors have had with private equity, says TPGs Coulter. 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. 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. Private equity is a financing method that facilitates companies to acquire direct investments from PE firms for a long-term without adopting the traditional ways of fundraising such as public listing or business loans. Over time GSO would sell the land back to the homebuilder. Alice Katwan on Linkedin. The defanged banks are receding into the background and making peace with new regulations designed to emasculate their balance sheets. Aligning our interests with our investors creates a long-term partnership forsuccess. Prior to joining Wasserstein & Perella Co., Inc., Mr. Campbell was an officer of Manufacturers Hanover Trust Co., where he was a member of the Acquisition Finance Group that was responsible for originating, structuring, and syndicating leveraged loans for such notable sponsors as Kohlberg Kravis Roberts & Co., among others. Zachary joined Alta Semper in 2016 and brings more than nine years of advisory and investing experience to the firm. That also plummeted in value. The strategy of Alta Semper is to invest flexible and strategic capital into market-leading business models in the . The higher amount of exits for fund were in 2011. 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. Mr. McLellan began his career in direct investing in 2004. GSO now has offices in New York, London, Dublin and Houston. He is a CFA charterholder. Wasserstein Perella & Co., sometimes referred to as "Wasserella" [citation needed], was a boutique investment bank established by Bruce Wasserstein, Joseph R. Perella, Bill Lambert, and Charles Ward in 1988, former bankers at First Boston Corp., until its eventual sale to Dresdner Bank in 2000 for some $1.4 billion in stock. 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). Journal Report. 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. Prior to that, he held various positions in state and federal government, as counsel for Nelson Rockefeller and as a senior White House aide under President Gerald Ford. 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). The congressman supported new gun legislation after a school shooting in Uvalde, located in his district. But by the end of 2009, the firm had $24billion in assets. On top were three white-shoe firms: First Boston Corp., Goldman Sachs and Morgan Stanley. Prior to joining Apollo, Mr. Bagaria worked at Goldman Sachs & Co.s PIA (Goldman), Goldmans principal investment area responsible for the private equity and mezzanine funds. Drexel was a place where analysts spent days buried in the dense financials of dicey companies. 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. Zacharys advisory experience was developed within the investment banking divisions of UBS and Goldman Sachs in New York and Johannesburg. Victoria Grace is a founding partner of Colle Capital Partners LP, an opportunistic, early stage technology venture fund. Goodman is quick to credit the Blackstone brand for at least part of GSOs success. PE firms charge a management fee of typically 2% of AMU and a performance fee of 20% of the profits. Former partner at Wall Street Technology Partners and former Director of Dresdner Kleinwort Wasserstein Private Equity Group. He also serves on, and was formerly Chairman, of the Advisory Board of the Yale School of Management and is on the Board of the Cate School.Mr. 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. The death of Lazard Ltd. Chief Executive Bruce Wasserstein will trigger the vesting of stock currently valued at $188 million, confirming Mr. Wasserstein's status as one of history's most highly . Only logged in subscribers of this site will be able to access the shared article.

Trained Dogs For Sale Northern California, Boston Arts Festival 2022, Articles W