wasserstein private equity

Remnants of the financial crisis continue to cast a shadow on markets, especially in Europe. She has worked for GI Partners, Merrill Lynch, Wasserstein Private Equity, and Permira in London. Wasserstein 3-in-1 Floodlight, Charger and Mount for Wyze Cam V3 (Camera Not Included) 4.8. This Policy is intended to provide a broad framework for EagleTrees overall approach to ESG. 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. Previously, Mr. Kelsey worked at Jefferies LLC in the Leveraged Credit Research group where he was responsible for covering the gaming and retail sectors. The new power brokers in the financial industry are money managers and investors like GSO, which control real assets. 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. [7] The investment banking business of Dresdner Bank changed its name to Dresdner Kleinwort Wasserstein as a result of the deal. (212) 702-5602 The fund's final close was first reported . Any deal would hinge on James, who was revered by GSOs three founders. . [9] PWP provides strategic, financial, and tactical advice in connection with executing complex mergers, acquisitions, company sales, and corporate divestitures, including carve-outs, joint ventures, and spin-offs, and relating to takeover preparedness and defense. 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. *SHIPS WITHIN 1 - 2 WORKING DAYS SUPER BRIGHT LIGHT - Over 2000 lumens of light will enhance your camera's vision in low-light conditions and allow. Private equity investors are by nature optimistic and swaggering, thinking every deal is a potential blockbuster. Rescue lending has returned an annualized 15.2 percent since inception in September 2009. Its really hard for some people to be aggressive in times of disruption because you have to do your work beforehand, says partner Smith. The then-54-year-old CEO figured he had little to lose by listening to Ostrovers pitch. The market is saying youre going bankrupt, Ostrover added. Our close-knit team shares 70 years of combined specialist experience gained at leading private equity and investment firms. Private equity firms close in on Wasserstein's ALM | Reuters 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. Sustainable Business. New York, NY 10036 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. From 2002 2004, Mr. McLellan worked as an analyst for Deutsche Bank focusing on Mergers & Acquisitions and Media Investment Banking. Kenyas sole electricity distributor cited a system disturbance as a possible cause for the blackout. GSO is actively managing the leveraged-loan ETF, the first of its kind. 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. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. They began their partnership at the global investment bank, Wasserstein Perella & Co., where they led the merchant banking group. This Policy reflects our current approach to considering and addressing Environmental, Social and Governance (ESG) factors and which has been further developed and refined since we became a PRI signatory in 2019. Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. 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. Deal Analysis: Queens Gambit SPAC To Acquire SWVL 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. 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. There was little room for error. The ESG Committee will meet at least quarterly. Alice Katwan on Linkedin. 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. 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. Mr. McLellan was hired by Mr. Bagaria and initially worked within AIC from 2004 2006 before moving into the Strategic Value Fund. 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. SUMMER analyst pay at smaller banks | Wall Street Oasis 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. PWP provides comprehensive financial restructuring and capital structure advice in connection with stressed and distressed situations, including amendments, debt exchanges, financings, distressed M&A, and balance sheet recapitalizations. Zachary has an MBA from The Wharton School at the University of Pennsylvania and a BA in Economics from Cornell University. Annual high-yield issuance is more than double what it was in 2006 and 2007, 61 percent of bonds are trading at or above their call prices, and new issuance of covenant-lite leveraged loans in 2012 surpassed the levels seen during the credit craze in the middle of the past decade. corporate development. Updated June 5, 2014, 1:21 p.m. | An investor consortium led by Wasserstein & Company announced on Wednesday that it bought back ALM Media, which publishes The American Laywer and other titles, from its current owners, Apax Partners and the Royal Bank of Scotland.. He has over 25 years of experience in investment banking and private equity and has been responsible for building and overseeing both industry and product groups at major investment banking firms. 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. Goodman is quick to credit the Blackstone brand for at least part of GSOs success. Though the three founders couldnt be more different, theyve maintained their partnership without a blip for 20 years. Mr. Lauder is currently the Chairman of Clinique Laboratories, a division of The Este Lauder Companies. His research and publications focus on international development with a special focus on capacity building in health care and biopharmaceutical production in emerging economies. This website uses cookies so that we can provide you with the best user experience possible. Though hurt by the financial crisis, Blackstone and GSO have emerged as dominant players in its aftermath. To support African health management excellence, he co-founded the African Institute for Health Care Management. 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. 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. Prior to Duet, she was at GI Partners where she executed several transactions in the healthcare, consumer and real-estate sectors. The company would sell its property inventory to a land bank created by GSO in return for a $125million cash infusion. The following March, Milken was indicted for racketeering and securities fraud. Every Monday the investment staff meets to go over ideas and review the pipeline. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. Engage with outside advisors, as necessary, to analyze and address ESG issues, risks and opportunities that arise. Wasserstein & Co. to Buy Back American Lawyer - DealBook Blackstone Group's GSO Capital: Lenders of Last Resort Alexandria, VA 22314, 515 North Flagler Drive | Suite 1450 I fell for it hook, line and sinker, says Goodman. Victoria has extensive experience in originating, structuring and monitoring venture capital transactions. Pam Wasserstein | The Charles H. Revson Foundation Bruce Wasserstein Net Worth | Celebrity Net Worth Smith, who calls himself Mr. Though the three are equal partners at GSO, Smith and Ostrover often defer to Goodman for the final word. Ahmed speaks English and Arabic and is based between Cairo and London. The approximately $4billion portfolio was distributed across GSOs own funds as well as Blackstones private equity portfolios. degree in Finance and Government from the University of Notre Dame in 2002, graduating magna cum laude. 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 . . EagleTree Capital | The Firm - A team-based approach to investing That makes GSO Blackstones fastest-growing business in terms of both earnings and assets. With nearly 400 . The honeymoon was over quickly, though. Meet Chicago's newest, most connected banker - Crain's Chicago Business Wasserstein Home | 849 followers on LinkedIn. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. This ESG Policy (the Policy) amends, restates and supersedes EagleTrees ESG Policy that was first formally adopted in 2017. Register now to read this article and more for free. The year he joined, the firm became the No. Wasserstein & Co. Portfolio Investments, Wasserstein & Co. Funds Wasserstein established his reputation for orchestrating complex mergers and acquisitions at First Boston Corp., and later Wasserstein Perella & Co., an investment bank sold to Dresdner Bank in 2000 for $1.4 billion. (5) Wasserstein. The firm was formed in January 2001, when the merchant banking group of Wasserstein Perella & Co., Inc., a global investment banking firm, spun out to become an independent firm upon the acquisition of Wasserstein Perella by Dresdner Bank. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. There is a place for capital formation at market rates of return and driven by problem solvers, explains Coulter. Prior to joining Sheffield, Mr. McLellan worked at Apollo Global Management, LLC (AGM) from 2004 2010. But thats starting to change as European banks need to deleverage and raise capital and companies desperately require funding. PETER A. WEINBERG The common things for fund are deals in the range of 10 - 50 millions dollars. The ESG Sub-Committee generally will meet on at least a weekly basis and its responsibilities will include: (i) engaging with EagleTrees deal teams on pre-acquisition ESG due diligence matters; (ii) engaging with EagleTrees third-party ESG specialists to conduct annual portfolio company-level ESG reviews; (iii) responding to investor and other stakeholder ESG requests; (iv) conducting annual employee training; and (v) reviewing and updating this Policy and EagleTrees ESG program, as necessary, from time to time. The firm seeks to . EagleTree continues to maintain policies and procedures that prohibit bribery and other illegal payments to public officials consistent with U.S. federal and state laws, and in an effort to protect our systems, networks, programs, devices and data from cyber-attacks, has implemented a robust cyber-security framework. She holds a BCom in Economics and Finance from McGill University and speaks English, Arabic and Armenian, and is proficient in French. 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. 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. Richard was also previously the Head of Private Equity - Americas for Siemens Financial Services, Inc. Richard has invested in and worked . Wasserstein Partners Acquires Northstar Travel Group - Folio: and co-managed the company for five years until its merger. Our investment activities are focused on middle-market leveraged buyout investments and related investment activities. After earning his MBA in 1984, the Miami-born Goodman took a full-time job with Drexel in New York. Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. 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. from the University of California at Berkeley. 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. 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. Thoughtful Electronics and Accessories for Smart Homes | Market leader and accessory manufacturer of smart home products such as Google Home, Nest . Tailor specific ESG inquiries and approaches based on various investment factors including the core industry sector of a particular investment. Most PE firms are open to accredited investors or those who are deemed high-net . Afsane JethaUntitled Mr. Wasserstein died in 2009. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. Original price $69.99. Mr. Montana earned a duel B.S. He was appointed Chief Compliance Officer in January 2017. 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. EagleTree has a history of charitable giving and an active Philanthropic Committee that strives to support a number of charities from both a financial and volunteer perspective. When DLJ tried issuing its own highly confident letters, they meant nothing, as DLJ had a small balance sheet. Bruce Jay Wasserstein (December 25, 1947 - October 14, 2009) was an American investment banker, businessman, and writer. Smith calls Europe a huge opportunity maybe a little like what Milken saw in the 1980s and DLJ in the 90s. Salesforce beat earnings-per-share estimates after the closing bell on March 1, 2023. Leveraged loans offer a hedge against interest rates and can augment a largely xed-rate portfolio. 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. (Though the hedge fund was launched in 2005, GSO has since stripped out mezzanine and other investments into separate funds.) 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. But things were changing, and they would get their chance soon. Since 2008, Blackstone has more than doubled its assets. GSOs investors, by contrast, had a paltry $22million invested with Goodman, Ostrover and Smith. In the process, Drexel helped spark an unprecedented era of prosperity in the U.S. as companies like Ted Turners Turner Broadcasting System, Craig McCaws McCaw Cellular Communications and William McGowans MCI Communications Corp. rapidly expanded by using this newly available source of capital. At that time, Drexel had a lock on the business. Zachary joined Alta Semper in 2016 and brings more than nine years of advisory and investing experience to the firm. 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. Pam Wasserstein is the President of Vox Media, the leading independent modern media company, where she oversees strategic initiatives, including e-commerce and consumer businesses, as well as the New York Magazine brands. Bruce Wasserstein (1947 - 2009) - Genealogy - geni family tree Approach prospective clients and partners; make presentations. Bayern Munich is keeping pace with Borussia Dortmund at the top of the table ahead of the season-defining clash against Paris Saint-Germain on Wednesday. EagleTree continues to promote diverse perspectives. and co-managed the company for five years until its merger. Afsane Jetha - Gaining Additional Experience. Harvard labor economist Claudia Goldin summarises the distance we've travelled over the past hundred years, in a kind of Five Ages of Women. 2005-2023 Wall Street Oasis. 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. 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. ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) POLICY, TermsofUse and Other Important Disclosure. Working directly with CEO, funds . Mr. Kelsey earned a B.S. From 2002 2004, Mr. McLellan worked as an analyst for Deutsche Bank focusing on Mergers & Acquisitions and Media Investment Banking. 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. GSO had partnered with TPG to buy a $2billion portfolio of bridge loans from Citigroup. Mr. Kelsey joined Wasserstein Debt Opportunities Management, LP in 2013 as an Associate. GSO and Blackstone announced the deal in January 2008. The Team | Alta Semper | Private Equity Firm If you disable this cookie, we will not be able to save your preferences. Afsane Jetha co-founded Alta Semper Capital in 2015. 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. Ting-Li Wang/The New York Times. Prior to this endeavor, she built a rich resume in the financial services sector, specifically working with private equity investment. Mr. Jones received his MBA from the Yale School of Management and his B.S. Previously, Mr. Montana worked at State Street Investment Management Services where he was responsible for fund administration in Global Emerging Markets. Afsane is tiedpe - Afsane Jetha @afsanejetha 2016 Wasserstein family - Forbes 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. At the same time that GSO is capitalizing on the void left by banks, it is also benefiting from historically low interest rates and unrelenting investor demand for credit investments. Senior Vice President of North America Sales at Twilio. GSO put about $5billion of capital to work as the markets slid after the downgrade. Wasserstein Debt Opportunities - PitchBook Data Wasserstein & Co. is an independent private equity and investment firm, focused on middle-market leveraged buyout investments and related investment activities. With over 15 years of experience, the principals of Orkila seek to leverage their deep industry knowledge and . In 2008, Mr. Parsons served as a member of then-President-Elect Barack Obamas Economic Transition Team. Ronald S. Lauder is an international philanthropist, diplomat, public servant, entrepreneur, investor and patron of the arts. GSO now has offices in New York, London, Dublin and Houston. That also plummeted in value. 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. According to external marketing documents, its hedge fund has delivered a net annualized return of 13.6 percent since January 2010, compared with the HFRI Fund Weighted Composites return of 4.6 percent for the same period. The former undrafted free agent's contract includes $1.4 million in remaining guaranteed salary. 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 EagleTree has always strived to maintain a strong culture of good governance to ensure that it operates in a socially responsible manner. Journal Report. 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. It was a good time for Goodman, Smith and Ostrover to start their own firm. In recent years, the firm has invested in pharmaceutical manufacturing, retail pharmacy, cancer care and diagnostics platforms in Egypt, Nigeria and Morocco. Don't have an account? View full details. Credit jumped off the page.. Wasserstein Debt Opportunities Management, LP (WDO) is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. An Heir Who's Ready to Take the Reins at New York Magazine 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.

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