Work with portfolio companies to integrate sustainability considerations into their business plans, as applicable. A Fundamentally Different Kind of SPAC | Nasdaq What are the main benefits of having another shot creator and off-ball spacer of Durant's caliber? Victoria Grace - Colle Capital What the SPR Refill Means for Oil Futures, The Radical, Lucrative, and Controversial Company Hiding in Stephen Schwarzmans Pocket, Oats: From the Original Energy Contract to Trendy Dairy Alternative, Modern Slavery Act Transparency Statement. 99 Canal Center Plaza | Suite 400 In 2008, Mr. Parsons served as a member of then-President-Elect Barack Obamas Economic Transition Team. Over time GSO would sell the land back to the homebuilder. Smith, who calls himself Mr. Afsane Jetha co-founded Alta Semper Capital in 2015. Afsane is tiedpersonally and professionallyto East Africa as she is a fourth-generation Tanzanian. 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. Thoughtful Smart Home Products Wasserstein Home As a result, the high-yield and leveraged-loan markets never developed in Europe to the extent they did in the U.S. In 2007, the peak for the firms performance fees, private equity contributed the bulk of the total. The firm follows in the footsteps of Drexel and Michael Milken, who in the 1980s invented the junk bond market for non-investment-grade companies. By Stephen Grocer. Its really hard for some people to be aggressive in times of disruption because you have to do your work beforehand, says partner Smith. Garrett Moran, who ran the high-yield bond group at DLJ, says Goodman stalked him for six months, wanting to pitch his idea for a capital markets desk. 1 and having a big firm behind them. Though hurt by the financial crisis, Blackstone and GSO have emerged as dominant players in its aftermath. Blackstone Group's GSO Capital: Lenders of Last Resort 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. In its five years in the Blackstone fold, GSO has gone from having two fund products to managing 27. Original price $69.99. 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. 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. Then, in the 1980s at First Boston, and at Wasserstein Perella after 1988, together they helped create "a dynasty of bankers and executives that has spread throughout Wall Street and corporate America". New York, NY 10036 Now the emergence of alternative credit mirrors tools that equity investors have had with private equity, says TPGs Coulter. Hovnanian, who had lived through several real estate cycles, was shocked when Ostrover told him the price of the five-year CDS contracts on Hovnanian implied a 93 percent probability of default. The EagleTree Team has worked together for over 25 years. She has worked for GI Partners, Merrill Lynch, Wasserstein Private Equity, and Permira in London. What the three founders have built at GSO, they originally planned for CSFB. Thoughtful Electronics and Accessories for Smart Homes | Market leader and accessory manufacturer of smart home products such as Google Home, Nest . In February 1990, Drexel filed for bankruptcy; two months later Milken pled guilty to lesser charges, agreeing to pay a $600million fine and serve ten years in jail. 300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses. GSO and Blackstone announced the deal in January 2008. She co-founded Work It, Mom! Instead, banks dominated the leveraged-finance markets, with few institutional buyers such as high-yield mutual funds. 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. Other investments recently controlled by Mr. Campbell and for which he served as Chairman include, but are not limited to, National Interest Security Company, LLC; SC3, LLC; and International Development Solutions, LLC. 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. Prior to Emerging Capital Partners, Zachary was an M&A Executive at SABMiller and worked on beverage related transactions in South Africa, Nigeria, Angola, Kenya, Ethiopia, Malawi, and Tanzania. 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). Wasserstein US Equity Partners IV | Palico Eleven months later the U.S. housing rebound is official and Hovnanian Enterprises is flourishing, expecting 2013 to be its first profitable year since 2006. While Goodman loves to talk, Ostrover has to be pressed for details. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. 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. 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. Afsane Jetha (@afsanejetha) | Stocktwits Today it offers $27billion in alternative-investment funds, including the now $4billion hedge fund, $8billion in mezzanine funds financing buyouts for private equity $8billion in rescue lending and $7billion in small-cap direct lending. 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. With nearly 400 . At Apollo, Mr. Bagaria invested in several asset classes including senior debt, high yield bonds, mezzanine finance and equity. Do you thrive in a challenging environment that combines intensity with collaboration? As 2008 wore on and the credit crisis gathered steam, GSO started putting money to work. degree in Finance and Government from the University of Notre Dame in 2002, graduating magna cum laude. 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. 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. Mr. McLellan was hired by Mr. Bagaria and initially worked within AIC from 2004 2006 before moving into the Strategic Value Fund. GSOs returns have been top quartile. 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). Alta Semper Capital LLP is a limited liability partnership registered in England and Wales under no. a private-equity-owned . On the strength of that bridge loan business, we built ourselves up into the leading firm, says James. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 as an Associate. Private Equity. Credit to Steve, he really trusted me on this one, adds James, who says Blackstone was looking for an area of asset management with room to grow that would complement its existing private equity, real estate and fund-of-hedge-funds businesses. FEATURED TITLE: Inside the Fund Management Firm, BEST-SELLER: The Definitive Guide to Carried Interest, PE outperformed in US state pension portfolios over past two decades, Side Letter: PEI Awards winners revealed; Chinas PE governance overhaul, PEI Awards 2022: Game Changer of the Year Mark Carney, Investor Relations, Marketing & Communications Forum. Vince Capurso - General Tax Counsel / Board Director / Advisor 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. Zachary joined Alta Semper in 2016 and brings more than nine years of advisory and investing experience to the firm. GSOs investors, by contrast, had a paltry $22million invested with Goodman, Ostrover and Smith. 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. 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. 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. As applicable, EagleTrees Investment Committees in partnership with the ESG Sub-Committee will oversee and consider ESG issues, if any, that are material to a potential company investment. 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. That also plummeted in value. He began his career at The First Boston Corporation.He recently served on the Boards of Directors of Harry & David, Encompass Digital Media, and Access Scientific. Harvard labor economist Claudia Goldin summarises the distance we've travelled over the past hundred years, in a kind of Five Ages of Women. Mr. Lauder was appointed Ambassador to Austria by President Ronald Reagan after serving several years as Deputy Assistant Secretary of Defence for European and NATO policy. When Bruce Wasserstein and Joe Perella Ruled the World. Private Equity Firms in Southern California Company Website Address Primary Contact Angeleno Group www.angelenogroup.com 2029 Century Park East Suite 2980 Los Angeles, CA 90067 . 100%. By that July the three partners had launched GSO with 25 employees and one hedge fund. He began his career at The First Boston Corporation. 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. The world had changed, and the firm needed a partner. Mr. Jones received his MBA from the Yale School of Management and his B.S. Contact Details Address:1301 Avenue of the Americas, 44th FloorNew York, NY 10019United States Phone/Fax:Phone: 212-702-600Fax: 212-702-635 Other Contact Details:Website: During his time at the IFC, he advised on the first PPP in the West Bank. If you disable this cookie, we will not be able to save your preferences. Tailor specific ESG inquiries and approaches based on various investment factors including the core industry sector of a particular investment. He holds an AB from Princeton University. (Though the hedge fund was launched in 2005, GSO has since stripped out mezzanine and other investments into separate funds.) Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. GSO founders Goodman, Ostrover and Tripp Smith have emerged as lenders of last resort, filling the gaping financing void left by banks and opportunistic hedge funds in the wake of the 200809 financial crisis. Wasserstein Debt Opportunities Management, LP ("WDO") is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. EagleTree Capital, All Rights Reserved | TermsofUse and Other Important Disclosure, 1185 Avenue of the Americas, 39thFloorNew York, NY 10036. Writing something down to zero is not your proudest moment, Goodman says. 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. Wasserstein, who was immortalized in a 1989 Forbes cover story that cemented his infamous nickname, had a passion for the media, having interned at Forbes during his student years in 1969. It was a good time for Goodman, Smith and Ostrover to start their own firm. Smith calls Europe a huge opportunity maybe a little like what Milken saw in the 1980s and DLJ in the 90s. Credit jumped off the page.. The top skills needed for this position are business management, market analysis, finance and accounting, problem-solving, data . 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. Key Takeaways. Journal Report. Russias War On Ukraine: Daily News And Information From Ukraine, Bayern Munich Remain First But Must Switch Off Complacency Ahead Of PSG Fixture, More Ex-British Challenger 2 Tanks Are Bound For Ukraine As London Doubles Its Pledge, This African Country Of Millions Is Without PowerHeres What We Know, REI Workers In Cleveland Vote To Join The Retail, Wholesale And Department Store Union, What It Took To Bring Daisy Jones And The Six To TV, Texas GOP Censures Rep. Gonzales For Supporting Same-Sex Marriage And Gun Safety, New England Patriots Reportedly Set To Release Brian Hoyer, Leaving Two In The Quarterback Room, Salesforce Gapped Higher On Better-Than-Expected Earnings. The firm has financed well-known names like Chesapeake Energy Corp., struggling with weak natural-gas prices and controversy around its ex-CEO and needing capital to develop lucrative energy projects, and Sony Corp. while also providing $650million of capital to smaller homebuilding companies like the U.K.s Miller Group and $888million to companies in Europe last year, including Canberra Industries, Welcome Break and EMI Music Publishing. A deal between Blackstone and GSO, however, wasnt a no-brainer. Thats where you wanted to land a job if you were a Harvard Business School student. He holds a BA in Finance from the American University of Cairo and an Executive Education in Corporate finance from London Business School. We target investments of between $30 million and $150 million. Bruce Wasserstein (1947 - 2009) - Genealogy - geni family tree He was CEO since the firms formation in 2001 through 2012. EagleTrees ESG initiatives will be overseen by its ESG Committee, which includes EagleTrees two Co-Managing Partners and other members of senior management. 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. Jones is currently Chairman of Wasserstein & Co. Houston-based Scott oversees GSOs energy group. 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. Funds advised by Apax Partners announce the sale of ALM Media to Click here. Mr. McLellan earned a B.S. 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.. David Geffen is the Warren Buffett of the entertainment industry, and they understood the value of that to the deal, he explains. 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. 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. Jones is currently Chairman of Wasserstein & Co. 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. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 as an Associate. Wasserstein Debt Opportunities Management, LP ("WDO") is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds.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. She is a graduate of the University of Pennsylvania's Wharton School where she earned her BS in Economics. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. But they dont want to commit their capital. Its a different kind of satisfaction walking into the CIOs office for the Bass brothers.. degree in Business Administration from Western New England University with a concentration in finance. GSO has a view on about 1,000 companies through its CLO business, garnering leads that can be passed on to the hedge fund or other vehicles. Previously, he served as an Associate Principal at McKinsey & Company in the Financial Services Group. The company offers its corporate, government, and institutional clients a variety of capital markets products and services, including short-term products and treasury, equity products, rates, credit products, foreign exchange debt origination, sales and marketing, research, risk . GSO has provided much-needed credit to scores of troubled companies like Hovnanian that couldnt tap public markets or get bank loans. 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. Mr. Lauder is also Chairman of the Board of Governors of the Joseph H. Lauder Institute of Management and International Studies at the Wharton School at the University of Pennsylvania. We want to buy you.. 39th Floor There is a place for capital formation at market rates of return and driven by problem solvers, explains Coulter. The next year it acquired nine CLOs from Allied Capital Corp., and a year later it bought Harbourmaster Capital Management, a $10billion European leveraged-loan manager, and four CLOs from Allied Irish Bank. GSO was an early investor in the shale gas industry, which has been whipsawed by volatile pricing and other events. You can find out more about which cookies we are using or switch them off in settings. (5) Wasserstein. Two years out of the University of Notre Dame, he witnessed firsthand the toll Drexels failure took on senior managers whose wealth had been tied up in its stock. About Wasserstein & Co. Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. Thomas J. Campbell - DC Capital Partners In fact, the firm is preparing to be a buyer when rates rise and long-only mutual fund managers have to sell bonds to meet investor redemptions. Marina joined Alta Semper in January 2019. and co-managed the . 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). Wasserstein Home | 849 followers on LinkedIn. Debt opportunities management delivered through partnership, visionand experience. When the high-yield market trades at highs, we put out less capital, says Ostrover. 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). . In September 1988 the Securities and Exchange Commission sued Drexel for insider trading and stock manipulation. 1 salesperson by a third-party consulting firm, and Goodman and Moran decided to steal him away the day the news came out. degree in Individualized Study at New York University with studies at the London School of Economics, graduating cum laude. 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. ("TCP"), have entered into a definitive agreement to acquire Globecomm from a New York-based private equity firm. Victoria Grace is a founding partner of Colle Capital Partners LP, an opportunistic, early stage technology venture fund. Prior to that, he worked for 14 years in Senior Hedge Fund operations positions for top tier firms, including IFS State Street and HSBC. How Bruce Wasserstein Became The "Buyout Guru" - Finance Friday Kenyas sole electricity distributor cited a system disturbance as a possible cause for the blackout. The only opening that day was for Drexel, which was at the bottom of the Wall Street pecking order even as it dominated the business of financing non-investment-grade companies. Wasserstein controlled Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. Oct. 15, 2009 12:58 pm ET. Alice Katwan. He also advised Meridian Investment (Russia) on the investment of its stake in TBE Egypt for Payment Solutions and Services to an affiliate of BPE Partners. 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. At Goldman, Mr. Bagaria worked primarily as an investor of GS Mezzanine, the largest mezzanine fund globally. We love your company., (Ostrover had his own hard-luck family bankruptcy story: His grandfather had to shutter Ostrovers Smoked Fish on New Yorks Lower East Side in the 1950s following a blackout; he couldnt pay his creditors because his customers fish had rotted.). Mr. Jones is currently Chairman of Wasserstein & Co. Before that she worked at Apollo Global Management, the private equity firm, where she evaluated . Hints and clues to help you with today's Wordle. A Fundamentally Different Kind of SPAC - Data Intelligence. 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. In 2006, four years after Wasserstein's departure, it dropped Wasserstein's name. A verification email is on its way to you. 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.
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