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. 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. Victoria Grace - Colle Capital [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. 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 began his career in the leveraged finance market in 1999. 2016 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. 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. By that July the three partners had launched GSO with 25 employees and one hedge fund. The Capital Solutions Fund GSOs rescue lending vehicle is an object lesson in the maturation of alternative credit. For $340 Million, Globecomm Allows Wasserstein to Take it Private He was appointed Chief Compliance Officer in January 2017. We, on the other hand, want to own the risk.. He recently served on the Boards of Directors of Harry & David, Encompass Digital Media, and Access Scientific. EagleTree seeks to improve diversity and inclusion within the Firm, across its portfolio company investments and in the private equity industry, where possible. In 2007, Merrill Lynch & Co. took a minority stake in GSO and the firm had its first closing for a new mezzanine fund. Terms & Conditions. This ESG Policy (the Policy) amends, restates and supersedes EagleTrees ESG Policy that was first formally adopted in 2017. So the firm created the bridge loan, not promising capital but intended to tide the company over until it could obtain permanent financing. Original price $69.99. As a result, the high-yield and leveraged-loan markets never developed in Europe to the extent they did in the U.S. If you disable this cookie, we will not be able to save your preferences. The market is saying youre going bankrupt, Ostrover added. The Amazon Prime Video show's creative team reveals how a bidding war, authenticity, and passion fueled the adaptation of the best-selling novel. Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. Smith had joined Salomon from Drexel, leaving with a group during the bankruptcy. [8], In 2000, Wasserstein Perella ranked fifth in the U.S. as an adviser on mergers and acquisitions. Remnants of the financial crisis continue to cast a shadow on markets, especially in Europe. He later became 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. Private equity (PE) refers to a constellation of investment funds that invest in or acquire private companies that are not listed on a public stock exchange. In 2007, the peak for the firms performance fees, private equity contributed the bulk of the total. He has also studied Precision Medicine at Harvard Business School and Fintech at the Said School of the University of Oxford. The tank plus-up, which Ukrainian ambassador to the United Kingdom Vadym Prystaiko announced on Saturday, should come as no surprise. 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. Mr. Jones is currently Chairman of Wasserstein & Co. Dresdner Kleinwort Wasserstein - Company Profile, Information, Business 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. Now the emergence of alternative credit mirrors tools that equity investors have had with private equity, says TPGs Coulter. Bruce Jay Wasserstein (December 25, 1947 - October 14, 2009) was an American investment banker, businessman, and writer. 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. 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. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 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. Respect the human rights of those affected by our investment activities and seek to confirm that our portfolio company investments do not support companies that utilize child or forced labor or maintain discriminatory policies. 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Smith, who had been co-head of high-yield group among other positions at Van Kampen Investments, now runs GSOs customized credit strategies, including CLOs, closed-end funds and Franklin Square Capital Partners, its small-cap direct lending group. Liverpool legend Roberto Firmino has offered himself to FC Barcelona through his agent, according to a report. GSOs flagship hedge fund takes an activist or event-driven approach to credit. Prior to joining Alta Semper, Ahmed was a Director at CI Capital Investment Banking, a leading Cairo-based investment bank, where he sourced, led and executed several capital markets and M&A transactions. [2], Perella left the firm for Morgan Stanley in 1993. Engage with outside advisors, as necessary, to analyze and address ESG issues, risks and opportunities that arise. Mid-market firm Wasserstein & Co. has closed its latest flagship fund, Wasserstein Partners IV, on $790 million, according to a source familiar with the matter. Most PE firms are open to accredited investors or those who are deemed high-net . This means that every time you visit this website you will need to enable or disable cookies again. What are the main benefits of having another shot creator and off-ball spacer of Durant's caliber? The firm was formed in January 2001, when the merchant banking group of Wasserstein Perella & Co., Inc., a global investment banking firm, spun out to become an independent firm upon the acquisition of the remainder of Wasserstein Perella by Dresdner Bank. Mr. Campbell received a B.S. At Goldman, Mr. Bagaria worked primarily as an investor of GS Mezzanine, the largest mezzanine fund globally. 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. Though he loved working on Wall Street, particularly at DLJ, Goodman wanted to spend all his time investing. 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. 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. 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 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. Patience is the key, says Smith, adding that GSOs funds and compensation are structured in such a way that staffers dont have to feel compelled to put money to work in deals that dont make sense. Wasserstein & Co. - Crunchbase Investor Profile & Investments Vince Capurso - General Tax Counsel / Board Director / Advisor Through this process, however, I feel like just getting a gig in any respectable private equity shop is tough -- and even though I came from a top 5 school and currently work in equity research at a bulge bracket, I still feel like I'm pretty low in the "pecking order" when it comes to recruiting simply because there are so many bankers trying . Grace serves as the CEO of Queen's Gambit. Prior to that, he was a managing director of Dresdner Kleinwort Wasserstein Private Equity Partners and related funds, and made and managed in excess of 30 private equity and partnership investments. 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. Don't have an account? In all cases the company would likely be giving up control at the bottom of the market. . Therefore, EagleTree may incorporate and alter different elements of this Policy for different portfolio companies across the stages of the investment management process, including during pre-acquisition, throughout ownership, and when positioning a portfolio company for an exit. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. Mr. Montana earned a duel B.S. The mission of Alta Semper is to invest flexible and strategic capital across selected growth markets, with a focus on the healthcare and consumer sectors. Competition from increasingly bigger banks was fierce. 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. 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. It was DLJs limited balance sheet that taught Goodman, Ostrover and Smith how careful they had to be with their credit analysis and due diligence. Part of GSOs success comes from leaving some money on the table. The then-54-year-old CEO figured he had little to lose by listening to Ostrovers pitch. After two games, Kevin Durant looks to be extremely comfortable in the Phoenix Suns' offense. But thats starting to change as European banks need to deleverage and raise capital and companies desperately require funding. Journal Report. 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. from the University of California at Berkeley. 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). At its peak, GSO had $475million in hedge fund exposure to homebuilders and related industries and put out $600 million in financing across private market vehicles. 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. Alexandria, VA 22314, 515 North Flagler Drive | Suite 1450 and co-managed the company for five years until its merger. EagleTree has always strived to maintain a strong culture of good governance to ensure that it operates in a socially responsible manner. In the era of Dodd-Frank and the Volcker rule, GSO and others like it, with their ability to make commitments, have more market power than ever, says Brian ONeil, chief investment officer of the $9billion-in-assets Robert Wood Johnson Foundation, the U.S.s largest philanthropic organization focused on public health and one of GSOs first investors. 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. [2] They included Robert S. Wiesenthal who became chairman of Sony; Jeffrey A. Rosen, vice chairman at Lazard; Raymond J. McGuire of Citigroup; Douglas L. Braunstein of JPMorgan Chase; Ronald Kramer, former President of Wynn Resorts and current CEO of Griffon Corporation; Michael B. Kraines of Sandler O'Neill; John H. Simpson, formerly Canyon Partners, now Broadhaven LLC; Robert Pruzan, founder of Centerview Partners; Deborah C. Wright of Carver Federal Savings Bank; Gail Zauder of Credit Suisse; current ABC News contributor, former mayor of Chicago and former chief of staff for President Obama Rahm Emanuel; Howard Kerzner, hotel tycoon and son of Sol Kerzner; Jon B. Kutler, founder of Quarterdeck Investment Partners, Inc., now with Admiralty Partners, Inc.; Michael J. Biondi, investment banking chair at Lazard, nicknamed Mr. Judgement;[3] Gary Parr at Lazard; Hugh "Skip" McGee III, former head of Lehman's investment banking, now at Barclays; Mark G. Shafir, former global co-head of M&A at Lehman Brothers, now with Citigroup; Walid Chammah, former CEO of Barclays International; Veritas Capital's Robert B. McKeon; and others. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, 101 Investment Banking Interview Questions. 39th Floor MVision 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. Mr. Jones received his MBA from the Yale School of Management and his B.S. More. 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. 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). Zachary joined Alta Semper in 2016 and brings more than nine years of advisory and investing experience to the firm. Not the case? Private equity firms close in on Wasserstein's ALM | Reuters GSO and Blackstone announced the deal in January 2008. Though DLJ investment banking staffers left in droves after the deal including James, though he stayed two years as part of the merger agreement Goodman, Smith and Ostrover flourished. Afsane speaks conversational French, Gujarati and basic Swahili. Greg began his career over 19 years ago and served as a Captain and Infantry Officer in the United States Marine Corps. Balkan Advisory Company, Sofia, Bulgaria. DLJ used its market position to keep reinvesting in the firm, building a leveraged-loan capability and creating a derivatives business and large distressed unit. 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. Consider whether a potential portfolio companys business aligns with EagleTrees core values. 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. Predecessor funds, U.S. Equity Partners I and II, were raised in 1997 and 2002 and invested approximately $750 million of committed equity capital. Venture Capital. The private equity business of the investment firm was not included in the sale and was . Afsane speaks Gujarati and French and is fourth-generation Tanzanian. They do it because they cant get the capital otherwise. And many companies say GSO doesnt scrape every penny out of a deal. Prior to joining Alta Semper, Zachary was a Senior Associate at Emerging Capital Partners where he covered infrastructure and consumer / retail investments in Kenya.
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