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. The EagleTree Capital team is currently investing its fifth private equity fund, EagleTree Partners V, with over $1.1 billion of committed capital. Prior to joining Alta Semper, he was a Senior Associate at Matouk Bassiouny in Cairo, Egypt (a leading regional law firm). degree in Finance and Government from the University of Notre Dame in 2002, graduating magna cum laude. Writing something down to zero is not your proudest moment, Goodman says. Before that she worked at Apollo Global Management, the private equity firm, where she evaluated . Wasserstein & Co. - Unicorn Nest 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. Wasserstein & Co. also manages a significant portfolio of debt and equity securities and other investments on behalf of our stockholders and other investors. At PWP, we seek talented people capable of broad and creative thinking with the drive to provide the highest quality advice to our clients. On day one Credit Suisse gave the firm more than $500million to manage a big part of the approximately $3billion it had raised from outside investors, including the Bass brothers, Blackstone, Cornell University, K2 Advisors, MetLife, Notre Dame and Quellos Group (now owned by BlackRock). In 1987 the Los Angelesbased Milken called Goodman, who by this time focused on LBOs, telling him he should move to Beverly Hills and work for Friedman (who would go on to co-found hedge fund firm Canyon Capital Advisors). Goodman is quick to credit the Blackstone brand for at least part of GSOs success. He began his career at The First Boston Corporation. He was CEO since the firms formation in 2001 through 2012. At that time, Drexel had a lock on the business. Banks may no longer have the balance sheets, but big institutional investors like sovereign wealth funds, endowments and pension funds do. 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. Deal Analysis: Queens Gambit SPAC To Acquire SWVL Many investors wouldnt know how to approach that.. 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. Credit jumped off the page.. With assistance from the ESG Sub-Committee and outside ESG specialists, as appropriate, EagleTrees deal teams will manage and monitor material ESG issues that have been identified during portfolio company ownership. At present, he is a Senior Advisor at Providence Equity Partners, Inc., a leading private equity investment firm specialising in media, communications and information companies and is the Chairman of Governor Andrew Cuomos New NY Education Reform Commission. A Fundamentally Different Kind Of SPAC - Betsy S. Atkins Mr. OKeefe earned a B.S. The firm honed the skills needed to look at an ugly financial situation and determine the commercial viability of a financing for both the companies and investors. [2] One First Boston analyst, Paul Mecurio, left corporate life to become a comedian. Mr. Lauder is currently the Chairman of Clinique Laboratories, a division of The Este Lauder Companies. 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. 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. 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. Wasserstein Home | 848 followers on LinkedIn. PWP provides financial and structuring advice in connection with capital raising alternatives, including debt, equity, and hybrid capital, identifying alternative sources of growth capital, including SPACs and private capital, and assisting with identifying investors, developing terms and structuring the transaction. Chief Financial Officer and Chief Compliance Officer. Executives at two publicly traded alternatives firms say they arent so much concerned about Blackstone as a competitor in private equity but that theyve been blindsided by GSOs growth. 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. Board of Directors | Swvl Holdings Afsane Jetha on Behance We take a unique approach to asset management. Goodman and Ostrover joke that Smith was responsible for DLJs success. 2023 Forbes Media LLC. 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. 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. His research and publications focus on international development with a special focus on capacity building in health care and biopharmaceutical production in emerging economies. The private equity business of the investment firm was not included in the sale and was to be sold off to existing Wasserstein shareholders. GSO and Blackstone announced the deal in January 2008. GSO and Blackstone actively share information. The common things for fund are deals in the range of 10 - 50 millions dollars. Ibrahim joined Alta Semper in 2021 as a General Counsel. More recently, he served as a member of the Presidents Council on Jobs and Competitiveness. When the high-yield market trades at highs, we put out less capital, says Ostrover. Do you thrive in a challenging environment that combines intensity with collaboration? EagleTree Capital, All Rights Reserved | TermsofUse and Other Important Disclosure, 1185 Avenue of the Americas, 39thFloorNew York, NY 10036. Although they enjoyed being their own bosses, they missed the prestige, and the deals, that came with being part of a big organization. The New England Patriots plan to release 37-year-old quarterback Brian Hoyer at the beginning of the 2023 league year, as first reported by SiriusXM NFL's Adam Caplan. The high-yield and leveraged-loan markets never developed there like they did in the U.S. GSO has $8billion in dry powder to put to work when rates eventually rise and investors inevitably sell at least some of the bonds theyve bought in recent years. 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. Previously, he served as an Associate Principal at McKinsey & Company in the Financial Services Group. We want to buy you.. Key Takeaways. PE LBO Modeling Test | Wall Street Oasis Thomas J. Campbell - DC Capital Partners Meet Current Wasserstein Fellows - Harvard Law School Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Mr. Lauder has long been committed to civic causes, public policy issues and has pursued impact investments in Africa since 2012. Blackstones real estate group saw similar evidence, and BAAM expected mortgage improvement based on results from its underlying hedge funds. 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. 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. Balkan Advisory Company, Sofia, Bulgaria. 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. It was keeping up-to-date in its credit work on certain companies and identifying potential situations for investment. Liverpool legend Roberto Firmino has offered himself to FC Barcelona through his agent, according to a report. Victoria Grace - Colle Capital PETER A. WEINBERG Our close-knit team shares 70 years of combined specialist experience gained at leading private equity and investment firms. Terms & Conditions. Blackstones acquisition of GSO has been an undisputed winner. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. 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. He is fluent in Arabic, French and English and is based in Alta Sempers Cairo office. 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. We target investments of between $30 million and $150 million. Previously, Mr. Montana worked at State Street Investment Management Services where he was responsible for fund administration in Global Emerging Markets. PDF Private Equity Firms in Southern California - Los Angeles County WHEN ASKED ABOUT HIS DECISION to switch from the sell side to the buy side, Goodman says his only regret is that he didnt make the move ten years earlier. 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. 1 underwriter for high-yield bonds, a distinction it would keep for 12 years. Incorporate detailed ESG considerations into our pre-investment decision-making process in order to better assess ESG risks and opportunities and to provide us with an initial overview of a potential portfolio companys ESG profile. Orkila Capital Ibrahim holds a Bachelor of Laws and a masters degree from University of Paris I Panthon-Sorbonne, and a Bachelor of Laws from Cairo University. 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. Mr. Jones is currently Chairman of Wasserstein & Co. Wasserstein Debt Opportunities - PitchBook Data 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. Don't have an account? Wasserstein Debt Opportunities Management, LP (WDO) is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. RELATED STORIES Dresdner deal nearly done - Sept. 15, 2000 Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. 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. As a result of the cumulative research among the different Blackstone groups, private equity bought $220million of nonperforming residential loans, the real estate team purchased $1.4billion of single-family homes to lease, and GSO invested in Hovnanian. Afsane Jetha is the Co-Founder, Managing Partner & CEO of Alta Semper Capital, a private equity manager founded in 2015 alongside Ronald Lauder (Chairman of Clinique LLC) and Richard Parsons (former CEO of Time Warner). He focused on Consumer Products and broader Sub-Saharan Africa. What was a wide-open white space for us? Engage with outside advisors, as necessary, to analyze and address ESG issues, risks and opportunities that arise. 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. We have a reputation for identifying and . We pride ourselves on talent, integrity and intellect. Dresdner buys Wasserstein in $1.4 billion deal - Sep. 18, 2000 David Geffen is the Warren Buffett of the entertainment industry, and they understood the value of that to the deal, he explains. Mr. Campbell is active in both geopolitical and philanthropic endeavors. The high activity for fund was in 2002. 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. Our team consists of exceptional individuals who, through collaboration and sharing of diverse perspectives and experiences, formulate unique solutions to help our clients address complex strategic and financial challenges. What Is Private Equity? - Forbes Advisor So the firm created the bridge loan, not promising capital but intended to tide the company over until it could obtain permanent financing. An Heir Who's Ready to Take the Reins at New York Magazine Mr. McLellan earned a B.S. 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. 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. Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. Alice Katwan on Linkedin. Bruce Wasserstein Net Worth | Celebrity Net Worth degree in Business Administration from Western New England University with a concentration in finance. 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. 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. 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. Private Equity Explained With Examples and Ways to Invest - Investopedia The year he joined, the firm became the No. Our investment activities are focused on middle-market leveraged buyout investments and related investment activities. 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. SUMMER analyst pay at smaller banks | Wall Street Oasis 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. Ronald S. Lauder is an international philanthropist, diplomat, public servant, entrepreneur, investor and patron of the arts. 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 . 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. We conduct our buyout investment activities through the Wasserstein Partners family of funds. 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. The EagleTree Capital team is currently investing its fifth private equity fund, EagleTree Partners V, with over $1.1 billion of committed capital. Funds advised by Apax Partners announce the sale of ALM Media to This ESG Policy (the Policy) amends, restates and supersedes EagleTrees ESG Policy that was first formally adopted in 2017. She holds a BCom in Economics and Finance from McGill University and speaks English, Arabic and Armenian, and is proficient in French. All HLS students are permitted to meet one-on-one with Wasserstein Fellows. Wasserstein Debt Opportunities is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. Investments can also be shared. 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 Former Senior Vice President of North America Sales at Genesys. 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. The firm was launched in May 2013 by Rajay Bagaria with backing from Wasserstein & Co. Wasserstein & Co. is a private investment firm and the family office of the late Mr. Bruce Wasserstein, with offices in New York and Los Angeles. 1Ls are permitted to meet with Wasserstein Fellows even before the October 15th career advising start date. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. 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. Greg is responsible for oversight and portfolio management at PIC. Mr. Kelsey earned a B.S. 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. So-called PE funds may also buy out . Working directly with CEO, funds . 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 . New York, NY 10036 With Drexel and Milken gone amid a recession, many market watchers thought high-yield financing would die. Though the three are equal partners at GSO, Smith and Ostrover often defer to Goodman for the final word. 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. James Coulter, co-founder of private equity firm TPG, says the opportunity is much more attractive for managers and investors now that banks which threw cheap money from depositors at troubled companies financing problems and pocketed the profit are not in the mix. degree in Individualized Study at New York University with studies at the London School of Economics, graduating cum laude. Bruce Wasserstein (1947 - 2009) - Genealogy - geni family tree GSO had partnered with TPG to buy a $2billion portfolio of bridge loans from Citigroup. He subsequently established the investment bank boutique Wasserstein Perella & Co., which he later sold . Alta Semper today manages funds on behalf of its founding shareholders as well as various US and European institutions, and is the most active investor in the healthcare space in Africa over the last two years. What the three founders have built at GSO, they originally planned for CSFB. It wants to stay off the front pages of newspapers. WASSERSTEIN - Wasserstein . Mr. McLellan began his career in direct investing in 2004. The firm was launched in May 2013 by Rajay Bagaria with backing from Wasserstein & Co. Wasserstein & Co. is a private investment firm and the family office of the late Mr. Bruce Wasserstein, with offices in New York and Los Angeles. Wasserstein Perella & Co. Wiki - everipedia.org March 29-30, 2023 1999 Avenue of the Stars Suite 2840 Los Angeles, CA 90067United States, 1301 Avenue of the Americas 41st FloorNew York, NYUnited States. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. With $58billion in assets under management and 235 employees, GSO has grown fivefold under the Blackstone umbrella. He was appointed Chief Compliance Officer in January 2017. In September 1988 the Securities and Exchange Commission sued Drexel for insider trading and stock manipulation. Mr. Parsons was named Americas Best CEO in the entertainment industry by Institutional Investor in 2005. Goodman states the obvious: No company does business with us because were such nice guys, though we like to think we are. He was CEO since the firms formation in 2001 through 2012. 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. After James joined Blackstone, Goodman took over CSFBs alternative capital division. Former partner at Wall Street Technology Partners and former Director of Dresdner Kleinwort Wasserstein Private Equity Group. 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. We build SMAs to meet clients yield and volatility targets. All rights reserved. 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. 1 or 2 in their markets, looks at about 1,000 deals every year and completes fewer than 5 percent of those. 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. He holds a BA in Finance from the American University of Cairo and an Executive Education in Corporate finance from London Business School. There is a place for capital formation at market rates of return and driven by problem solvers, explains Coulter. Dresdner won't acquire Wasserstein's private equity business, which will be spun off to the U.S. firm's existing shareholders. 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. Previously she was a partner at Wall Street Technology Partners LP, a $125mm mid stage technology fund. Wasserstein family - Forbes GSO has provided much-needed credit to scores of troubled companies like Hovnanian that couldnt tap public markets or get bank loans. (212) 702-5602 The new power brokers in the financial industry are money managers and investors like GSO, which control real assets. 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.