wasserstein private equity

Amid the froth GSO is now doing its preparatory work for the next crisis. Prior to joining Sheffield, Mr. McLellan worked at Apollo Global Management, LLC (AGM) from 2004 2010. Hard work got him noticed at Drexel, as well as a meeting with Moran. Aligning our interests with our investors creates a long-term partnership forsuccess. 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. Prior to Duet, she was at GI Partners where she executed several transactions in the healthcare, consumer and real-estate sectors. 1999 Avenue of the Stars Suite 2840 Los Angeles, CA 90067United States, 1301 Avenue of the Americas 41st FloorNew York, NYUnited States. 1185 Avenue of the Americas, 39thFloor 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. All Rights Reserved. Our initiatives in this regard are carried out by our Philanthropic Committee, which identifies several nonprofit charities each year with whom employees volunteer and EagleTree supports. . Mr. Campbell received a B.S. Most PE firms are open to accredited investors or those who are deemed high-net . It took a week before Hovnanian softened, but GSO got its deal. Prior to that, he worked for 14 years in Senior Hedge Fund operations positions for top tier firms, including IFS State Street and HSBC. Overview of Wasserstein US Equity Partners IV Wasserstein US Equity Partners IV is a closed private equity fund managed by EagleTree Capital . He was CEO since the firms formation in 2001 through 2012. Rescue lending has returned an annualized 15.2 percent since inception in September 2009. When Bruce Wasserstein and Joe Perella Ruled the World. Mr. Parsons was named Americas Best CEO in the entertainment industry by Institutional Investor in 2005. 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. After earning his MBA in 1984, the Miami-born Goodman took a full-time job with Drexel in New York. Tudor, Pickering, Holt & Co. Securities - Canada, ULC is a Member of the Canadian Investor Protection Fund and the New Self-Regulatory Organization of Canada. 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. Junk bonds also fueled the leveraged buyouts of the 1980s, when firms like KKR targeted companies that had once turned deaf ears to shareholder demands. Register now to read this article and more for free. 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. Afsane Jetha - Gaining Additional Experience. This ESG Policy (the Policy) amends, restates and supersedes EagleTrees ESG Policy that was first formally adopted in 2017. Work with portfolio companies to address ever-changing cyber-security considerations. He is in charge of all of the Firms operations and leads the investment decision making process for all capital investments. The Capital Solutions Fund GSOs rescue lending vehicle is an object lesson in the maturation of alternative credit. Thats where you wanted to land a job if you were a Harvard Business School student. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. He has done extensive work on the implementation of precision medicine in the developing world. and co-managed the company for five years until its merger. GSO and Blackstone announced the deal in January 2008. 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. 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. Prior to joining Semper Capital, Greg served as Founding and Managing Member of CP Capital Partners, LP. Earlier in her career, she was part of the Consumer Team at Permira in London which followed her time at Wasserstein Private Equity and Merrill Lynch in New York. This means that every time you visit this website you will need to enable or disable cookies again. The private equity business of the investment firm was not included in the sale and was . While at Duet, Afsane led the largest private equity transaction into Ethiopia, Dashen Brewery, as well as, sourced and executed on several consumer-facing transactions in Ghana, Uganda and Cote DIvoire. 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. 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. We focus primarily on equipment and services relating to water (drinking, waste and industrial) and other general industrial businesses including: pipes, pumps and valves; specialty chemicals; engineering services; and sensors, meters and monitors. In Europe 70 to 75 percent of lending is done by banks. Part of GSOs success comes from leaving some money on the table. Wasserstein Home | 848 followers on LinkedIn. Victoria Grace is a founding partner of Colle Capital Partners LP, an opportunistic, early stage technology venture fund. 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 . Banks may no longer have the balance sheets, but big institutional investors like sovereign wealth funds, endowments and pension funds do. While at AGM, Mr. McLellan analyzed event-driven long/short equity and credit, distressed-for-control, private leveraged buyouts and private minority investments in a variety of sectors. 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.. About Wasserstein & Co. Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. That summer James approached Goodman the fourth time Blackstone had tried to entice him into a deal and stated the obvious: In credit were not where we want to be. PE firms charge a management fee of typically 2% of AMU and a performance fee of 20% of the profits. degree in Finance, Investment, and Banking from the University of Wisconsin, graduating with Honors. Now the emergence of alternative credit mirrors tools that equity investors have had with private equity, says TPGs Coulter. 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. It was a good time for Goodman, Smith and Ostrover to start their own firm. Wasserstein & Co., the private equity firm founded by the late Bruce Wasserstein who also bought New York magazine in 2003, has made a deal to acquire satellite communications giant Globecomm Syst 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. Prior to that time he was a Senior and Founding Member of the Merchant . 1185 Avenue of the Americas 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. 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. EagleTree has always strived to maintain a strong culture of good governance to ensure that it operates in a socially responsible manner. Victoria has extensive experience in originating, structuring and monitoring venture capital transactions. What the three founders have built at GSO, they originally planned for CSFB. 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. Marina joined Alta Semper in January 2019. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. 1 underwriter for high-yield bonds, a distinction it would keep for 12 years. EagleTree Capital is an independent private equity firm located in New York. You should only be asked to sign in once. Predecessor funds, U.S. Equity Partners I and II, were raised in 1997 and 2002 and invested approximately $750 million of committed equity capital. Well before the downgrade of the U.S.s credit rating in August 2011, GSO was busy preparing for the possibility that markets would freeze up if the rating agencies made good on their threats. 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. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. She co-founded Work It, Mom! Terms of the transaction were not disclosed. 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. He is credited with the term, Pac-Man defense, which is used by . Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. There was little room for error. In 1992, Goodman hired Ostrover from Grantchester Securities, the high-yield arm of boutique investment bank Wasserstein Perella & Co., to run DLJs sales and trading. At Apollo, Mr. Bagaria invested in several asset classes including senior debt, high yield bonds, mezzanine finance and equity. Ahmed joined Alta Semper in 2018 as a Director. Morants agent denied previous allegations he hit and flashed his gun at a teenager suggesting they were made to tarnish his reputation. Look, the market hates your company, he told Hovnanian. 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 He also engineered a $479 million purchase of home security company SecurityLink by Chicago private-equity . He focused on Consumer Products and broader Sub-Saharan Africa. Alice Katwan. The approximately $4billion portfolio was distributed across GSOs own funds as well as Blackstones private equity portfolios. 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. 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. 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. Mr. Campbell is active in both geopolitical and philanthropic endeavors. Afsane Jetha began her career at Merrill Lynch and Wasserstein Private Equity before moving on to the consumer team at Permira in London. 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. 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. That also plummeted in value. Hovnanian, for his part, was not convinced that the market would react as positively as Ostrover suggested. GSO had partnered with TPG to buy a $2billion portfolio of bridge loans from Citigroup. 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. Remnants of the financial crisis continue to cast a shadow on markets, especially in Europe. 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. A month after its launch, GSO hired Donald (Dwight) Scott, who ran the energy practice at DLJ before joining El Paso Corp. in 2000. He brings more than ten years of investment banking and private equity investing experience in the consumer, healthcare and financial services sectors across the MENA region and Sub-Saharan Africa. [2] One First Boston analyst, Paul Mecurio, left corporate life to become a comedian. Mr. Montana joined Wasserstein Debt Opportunities Management, LP in 2014 as a Finance Associate. 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). 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). Business Video. At a bank youre working for anonymous shareholders, trying to make as much money as you can, he explains. Douglas Ostrover, the O in GSO, invited him to lunch at Manhattans Core Club in July 2012, just as the U.S. housing market was showing a few signs of life. 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. Blackstones acquisition of GSO has been an undisputed winner. 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. Goodman, Smith and Ostrover founded GSO in 2005 to provide capital to non-investment-grade cyclical companies that were going through a tough patch but had tangible assets to put up as collateral to protect the firms downside when it lent them money.

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