It was the first of many overtures Blackstones executives would make to him.
Wasserstein Perella & Co. Wiki - everipedia.org 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. Currently, Mr. Campbell is the Chairman of all of the Fund II portfolio companies, Michael Baker International, LLC, and The SPECTRUM Group, LLC. EagleTree believes its collaborativeapproach toinvesting createsvalue across a defined set of initiatives developed in partnership with portfolio company management. 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. By Stephen Grocer. She co-founded Work It, Mom! Hovnanian was the largest position in GSOs flagship hedge fund in 2012, and the firm made 50 percent on its capital in six months. 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. He was a graduate of the McBurney School, University of Michigan, Harvard Business School, and Harvard Law School, and spent a year at the University of Cambridge.He was prominent in the mergers and acquisitions industry, credited with working on 1,000 transactions with a . and co-managed the company for five years until its merger. In September 1988 the Securities and Exchange Commission sued Drexel for insider trading and stock manipulation. Sustainable Business. We pride ourselves on talent, integrity and intellect. West Palm Beach, FL 33401. 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. 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. The ESG Committee also aims to ensure that all EagleTree employees are aware of EagleTrees culture of social responsibility and any amendments to this Policy. 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. 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. A deal between Blackstone and GSO, however, wasnt a no-brainer. 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. Its amorphous, and you dont know the people. Credit Suisse bought DLJ for $11.5billion in 2000 and combined the firm with its New Yorkbased investment banking unit, Credit Suisse First Boston. In the old days a bank might have been more willing to commit its balance sheet for long-standing clients, says Bennett Goodman, the 56-year-old G in GSO, who started his career at Drexel Burnham Lambert in the 1980s. Convene 117 West 46th Street, New York, May 23-24, 2023
He worked across the private equity life cycle including fund raising, new investments, portfolio management and exits. 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. 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. 1Ls are permitted to meet with Wasserstein Fellows even before the October 15th career advising start date. The GSO team is confident that the bright future investors are anticipating will lose its luster sooner or later, whether its because of inaction in Washington or rumblings from North Korea, Israel or Iran. 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. Performing, price-discounted debt that we expect to recover. When DLJ tried issuing its own highly confident letters, they meant nothing, as DLJ had a small balance sheet. 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. In Europe 70 to 75 percent of lending is done by banks. In the late 1990s, Schwarzman, a client of DLJs, asked Goodman to start a credit business at Blackstone. Wasserstein 3-in-1 Floodlight, Charger and Mount for Wyze Cam V3 (Camera Not Included) 4.8. 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. 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. Alexandria, VA 22314, 515 North Flagler Drive | Suite 1450 Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. 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. We have a reputation for identifying and . She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. Salesforce beat earnings-per-share estimates after the closing bell on March 1, 2023. His research and publications focus on international development with a special focus on capacity building in health care and biopharmaceutical production in emerging economies. Duties include reviewing potential transactions, analyzing investor and partner needs, analyzing and making financial decisions, and preparing reports. from the University of California at Berkeley. 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. EagleTree Capital, All Rights Reserved | TermsofUse and Other Important Disclosure, 1185 Avenue of the Americas, 39thFloorNew York, NY 10036. 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. She has worked for GI Partners, Merrill Lynch, Wasserstein Private Equity, and Permira in 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. Work with portfolio companies to integrate sustainability considerations into their business plans, as applicable. Former partner at Wall Street Technology Partners and former Director of Dresdner Kleinwort Wasserstein Private Equity Group. The firm, which has a competitive advantage by doing most of its own loan originations and investing in companies that are No. Mr. Lauder has long been committed to civic causes, public policy issues and has pursued impact investments in Africa since 2012. Private Equity Associates work as a team to initiate and continue the funding process of new private equity firms. March 29-30, 2023
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. 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). She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. 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. Its really hard for some people to be aggressive in times of disruption because you have to do your work beforehand, says partner Smith. More. Previously, Mr. Kelsey worked at Jefferies LLC in the Leveraged Credit Research group where he was responsible for covering the gaming and retail sectors. [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.
A Fundamentally Different Kind of SPAC - Data Intelligence. 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. Lets face it, if a company can tap the public markets, they will, and theyll get a much better deal..
Blackstone Group's GSO Capital: Lenders of Last Resort After about a year of fundraising, commitments from existing LPs reached $790m, surpassing the original $750m target. 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. Europe currently offers GSO the greatest opportunities. Mr. Parsons was named Americas Best CEO in the entertainment industry by Institutional Investor in 2005. Thoughtful Electronics and Accessories for Smart Homes | Market leader and accessory manufacturer of smart home products such as Google Home, Nest . Key Takeaways. At Apollo, Mr. Bagaria invested in several asset classes including senior debt, high yield bonds, mezzanine finance and equity. What the three founders have built at GSO, they originally planned for CSFB. 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). Writing something down to zero is not your proudest moment, Goodman says. 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.