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. A link has been emailed to you - check your inbox. Lets face it, if a company can tap the public markets, they will, and theyll get a much better deal.. Zachary has an MBA from The Wharton School at the University of Pennsylvania and a BA in Economics from Cornell University. The latest messages and market ideas from Afsane Jetha (@afsanejetha) on Stocktwits. Prior to that, he held various positions in state and federal government, as counsel for Nelson Rockefeller and as a senior White House aide under President Gerald Ford. 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. OC403953. At PWP, we seek talented people capable of broad and creative thinking with the drive to provide the highest quality advice to our clients. Wasserstein & Co. Portfolio Investments, Wasserstein & Co. Funds PETER A. WEINBERG Predecessor funds, U.S. Equity Partners I and II, were raised in 1997 and 2002 and invested approximately $750 million of committed equity capital. To be sure, Blackstone is not the only manager to have smelled opportunity in the financing void. PE firms charge a management fee of typically 2% of AMU and a performance fee of 20% of the profits. Approach prospective clients and partners; make presentations. Wasserstein purchased The American Lawyer, which he later sold, and New York magazine, which remains under his family's control. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. Writing something down to zero is not your proudest moment, Goodman says. Wasserstein 3-in-1 Floodlight, Charger and Mount for Wyze Cam V3 (Camera Not Included) 4.8. Mr. McLellan joined Wasserstein Debt Opportunities Management, LP in 2017 as a Managing Director. 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. document.write(new Date().getFullYear()); The honeymoon was over quickly, though. He began his career at The First Boston Corporation. After earning his MBA in 1984, the Miami-born Goodman took a full-time job with Drexel in New York. 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. 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. 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. My Top SPAC Play for 2021 - Data Intelligence. Afsane Jetha - Alta Semper Capital | SuperReturn Africa Speaker Wasserstein & Co. also manages a significant portfolio of debt and equity securities and other investments on behalf of our stockholders and other investors. A +. 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. Portfolio, This content is from:
With over 15 years of experience, the principals of Orkila seek to leverage their deep industry knowledge and . He is fluent in Arabic, French and English and is based in Alta Sempers Cairo office. And, yes, we've come a long way, baby! The Team | Alta Semper | Private Equity Firm Terms of the transaction were not disclosed. 99 Canal Center Plaza | Suite 400 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. Although they enjoyed being their own bosses, they missed the prestige, and the deals, that came with being part of a big organization. Please check your spam or junk folder just in case. But although most Wall Street firms pulled out of the high-yield business, DLJ stayed in, doing some secondary trading and working with companies that felt they had been abandoned. The high activity for fund was in 2002. 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. Many investors wouldnt know how to approach that.. He subsequently established the investment bank boutique Wasserstein Perella & Co., which he later sold . There is a wealth transfer going on from banks shareholders to the investors in our funds, says Goodman. 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. Mr. McLellan was hired by Mr. Bagaria and initially worked within AIC from 2004 2006 before moving into the Strategic Value Fund. 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. degree with a double major in Finance and Accounting from Lehigh University. 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. The firm manages capital on behalf of institutional and individual investors. In July 2007, he sold American Lawyer Media to Incisive Media for about $630 million in cash. 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.
Prior to joining Wasserstein Debt Opportunities Management, LP he was Senior Product Manager at J.P. Morgan for three years in their Hedge Fund services business in the United States. What Is Private Equity? - Forbes Advisor Private equity (PE) refers to capital investment made into companies that are not publicly traded. [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. He now manages its hedge fund. 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. Bruce Wasserstein - Wikipedia Ahmed speaks English and Arabic and is based between Cairo and London. With no bank willing to lend to it, the Red Bank, New Jerseybased homebuilder had become a target for short-sellers; investors were betting billions of dollars in credit default swaps that the company Hovnanians father and three uncles had founded in 1959 would go belly-up. But they dont want to commit their capital. She co-founded Work It, Mom! In 2008, Mr. Parsons served as a member of then-President-Elect Barack Obamas Economic Transition Team. Apologizing for the seeming hokeyness of it, he refers to a black-and-white picture in his office of New Yorks Orchard Street early in the past century, with unpaved, muddy roads; pushcarts; and a glimpse of Ostrovers Smoked Fish. 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. Mr. Montana earned a duel B.S. Terms & Conditions. PWP provides comprehensive financial restructuring and capital structure advice in connection with stressed and distressed situations, including amendments, debt exchanges, financings, distressed M&A, and balance sheet recapitalizations. 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. This Policy is intended to provide a broad framework for EagleTrees overall approach to ESG. 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. In recent years, the firm has invested in pharmaceutical manufacturing, retail pharmacy, cancer care and diagnostics platforms in Egypt, Nigeria and Morocco. Kenyas sole electricity distributor cited a system disturbance as a possible cause for the blackout. 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. Thoughtful Electronics and Accessories for Smart Homes | Market leader and accessory manufacturer of smart home products such as Google Home, Nest . At a bank youre working for anonymous shareholders, trying to make as much money as you can, he explains. Its a different kind of satisfaction walking into the CIOs office for the Bass brothers.. I fell for it hook, line and sinker, says Goodman. Though he loved working on Wall Street, particularly at DLJ, Goodman wanted to spend all his time investing. In the late 1990s, Schwarzman, a client of DLJs, asked Goodman to start a credit business at Blackstone. . Northstar Travel Group acquired by Wasserstein - Wicks Group (Though the hedge fund was launched in 2005, GSO has since stripped out mezzanine and other investments into separate funds.) 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 The then-54-year-old CEO figured he had little to lose by listening to Ostrovers pitch. Our close-knit team shares 70 years of combined specialist experience gained at leading private equity and investment firms. Never satisfied with his intense day job, Bruce's private equity firm Wasserstein & Co. holds stakes in the popular New York magazine, and the delicious Harry & David gift basket retailer, among . Private Equity Associates work as a team to initiate and continue the funding process of new private equity firms. 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. Private equity is capital that is not noted on a public exchange. Team Members - Colle Capital GSO LIKES A LITTLE, BUT NOT TOO much, market misery. 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. and co-managed the . Wasserstein Perella & Co. - Wikipedia Wasserstein family - Forbes 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 this endeavor, she built a rich resume in the financial services sector, specifically working with private equity investment. Wasserstein closes biggest fund to date - Private Equity International 100%. We partner with entrepreneurs with the goal of building great brands. Depending on the product, GSO has a host of competitors, including Apollo Group Management; Ares Capital Corp. (an Apollo spin-out); Avenue Capital Group; Carlyle Group; Goldman, Sachs & Co.; J.P. Morgan Asset Managements Highbridge Capital Management; KKR & Co.; Oaktree Capital Management; and TPG Capital. More. He has also studied Precision Medicine at Harvard Business School and Fintech at the Said School of the University of Oxford. Orkila Capital Afsane Jetha co-founded Alta Semper Capital in 2015. As a consequence, banks want to syndicate risk into the market put together a road show and talk to 200 investors. In 2008, Blackstone, looking to diversify, paid $1billion to acquire GSO, which then had a $3.2billion credit hedge fund, $500million in mezzanine investments and a $4.8billion collateralized loan obligation business. 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. This Wasserstein & Co. works on 31 percentage points more the average amount of lead investments comparing to the other organizations. In developing this Policy, we have considered a range of guidance, including the Principles for Responsible Investment, the American Investment Counsel Guidelines for Responsible Investment and the Sustainable Development Goals. She has strong personal and professional ties to East Africa being a fourth generation Tanzanian. Mr. McLellan began his career in direct investing in 2004. Victoria has worked with, and made investments in a broad range of companies, including enterprise software, wireless technologies, medical devices . Prior to founding Alta Semper, Afsane spent nearly five years with the Duet Group as the Managing Director of the firms African Private Equity platform, investing nearly US$200m across Sub-Saharan Africa. Wasserstein Home | 848 followers on LinkedIn. We want to buy you.. In Europe 70 to 75 percent of lending is done by banks. PWP provides strategic, financial and process advice to Directors and other fiduciaries in connection with transactions where there is an actual, apparent or potential conflict. Rescue lending has returned an annualized 15.2 percent since inception in September 2009. Ostrover, who has a BA in economics from the University of Pennsylvania and an MBA from New York Universitys Leonard N. Stern School of Business, was ranked the No. GSO was an early investor in the shale gas industry, which has been whipsawed by volatile pricing and other events. In all cases the company would likely be giving up control at the bottom of the market. She co-founded Work It, Mom! Prior to joining Sheffield, Mr. McLellan worked at Apollo Global Management, LLC (AGM) from 2004 2010. [2] One First Boston analyst, Paul Mecurio, left corporate life to become a comedian. High cash-on-cash returns with capital appreciation potential. Before joining Wasserstein Debt Opportunities Management, LP, Mr. McLellan was a Senior Vice President at Sheffield Asset Management, LLC (Sheffield), a Chicago-based fund with a contrarian value orientation.While working at Sheffield from 2010 2016, Mr. McLellan led many of the largest positions analyzing long/short equity and credit investments. Mr. Bagaria began his career in the leveraged finance market in 1999. 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. Hard work got him noticed at Drexel, as well as a meeting with Moran. GSO is actively managing the leveraged-loan ETF, the first of its kind. So the firm created the bridge loan, not promising capital but intended to tide the company over until it could obtain permanent financing. This is bolstered by our expert shareholder base, which brings experienced strategic and operating partners to our transactions and best-in-class management teams. From 2002 2004, Mr. McLellan worked as an analyst for Deutsche Bank focusing on Mergers & Acquisitions and Media Investment Banking. Smith had joined Salomon from Drexel, leaving with a group during the bankruptcy. Afsane is tiedpe - Afsane Jetha @afsanejetha Annual high-yield issuance is more than double what it was in 2006 and 2007, 61 percent of bonds are trading at or above their call prices, and new issuance of covenant-lite leveraged loans in 2012 surpassed the levels seen during the credit craze in the middle of the past decade. Martin Paev, CFA - Member of the Board of Directors - Sirma Group Richard Parsons is the Former Chairman of the Board of Citigroup Inc., and former Chairman of the Board, and CEO of Time Warner. ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) POLICY, TermsofUse and Other Important Disclosure. 1 salesperson by a third-party consulting firm, and Goodman and Moran decided to steal him away the day the news came out. EagleTree aims to provide timely information to its clients and other stakeholders on the matters addressed herein and to work with them to foster transparency with regard to its ESG initiative. [2], Perella left the firm for Morgan Stanley in 1993. 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. When the markets rebounded in 1991, DLJ took over as a leading player. The future looks bright for credit investing. His research and publications focus on international development with a special focus on capacity building in health care and biopharmaceutical production in emerging economies. 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. Do you thrive in a challenging environment that combines intensity with collaboration? But thats starting to change as European banks need to deleverage and raise capital and companies desperately require funding. 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. Board of Directors | Swvl Holdings Its investment activities are focused on . GSOs returns have been top quartile. The common things for fund are deals in the range of 10 - 50 millions dollars. With $58billion in assets under management and 235 employees, GSO has grown fivefold under the Blackstone umbrella. 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. Mr. Jones is currently Chairman of Wasserstein & Co. [7] The investment banking business of Dresdner Bank changed its name to Dresdner Kleinwort Wasserstein as a result of the deal. 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. Traders betting against the company lost money. The top skills needed for this position are business management, market analysis, finance and accounting, problem-solving, data . The Amazon Prime Video show's creative team reveals how a bidding war, authenticity, and passion fueled the adaptation of the best-selling novel. The world had changed, and the firm needed a partner. Heres How To Trade The Stock Now, NBA Investigating Ja MorantGrizzlies Star Allegedly Flashed Gun On Instagram After Reports Of Violent Behavior, Liverpool Legend Roberto Firmino Reportedly Offers Himself To FC Barcelona, A Century Of Women, Work - And Juggling Family, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Acquisition of Stake in Deutsche Telekoms German and Austrian Tower Business, Acquisition of Ortho Clinical Diagnostics, Household / Personal Care & Beauty Products, Digital Infrastructure (Data Centers, Fiber, Satellite, Towers), New Self-Regulatory Organization of Canada. 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.