What Is Private Equity? - Forbes Advisor The higher amount of exits for fund were in 2011. In 2015, EagleTree spun out of Wasserstein & Co, which was formed in January 2001, when the merchant banking group of Wasserstein Perella became an independent firm. We are using cookies to give you the best experience on our website. West Palm Beach, FL 33401. He recently served on the Boards of Directors of Harry & David, Encompass Digital Media, and Access Scientific. 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. Bayern Munich is keeping pace with Borussia Dortmund at the top of the table ahead of the season-defining clash against Paris Saint-Germain on Wednesday. In contrast to the few traditional deals a year that a junior banker at Goldman might work on, Goodman cut his teeth on such unusual transactions as KKRs investment in Union Texas Petroleum Holdings in 1985 and Maxams 1986 takeover of Pacific Lumber Co. For the latter he and Joshua Friedman, then head of the capital markets group at Drexel, came up with a term sheet for a zero-coupon increasing-rate note whose complexity and model they still laugh about. and co-managed the company for five years until its merger. Mr. Wasserstein died in 2009. We want to buy you.. Balkan Advisory Company, Sofia, Bulgaria. But things were changing, and they would get their chance soon. The overall number of key employees were 2. 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 is hoping to be a big part of the transformation. She is a graduate of the University of Pennsylvania's Wharton School where she earned her BS in Economics. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. The fund's final close was first reported . In the old days highly cyclical companies in trouble could sell control to a competitor, a private equity firm or a hedge fund firm that took a loan-to-own strategy. There is a place for capital formation at market rates of return and driven by problem solvers, explains Coulter. While non-investment-grade companies need capital, investors need yield, and alternative credit strategies like those offered by GSO provide a much-needed boost to returns for bond portfolios. J.P. Morgan and other Wall Street research firms changed their rating from a sell to a hold GSO had been hoping for a buy and Credit Suisse refinanced Hovnanians high-cost debt that was coming due in 2016 and that the naysayers were sure would sink the company. 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. Kelsey earned a B.S. In addition, we remain committed to compliance with national, state and local labor laws in jurisdictions in which we invest and to provide a safe and healthy workplace consistent with national and local laws. When the high-yield market trades at highs, we put out less capital, says Ostrover. Martin Paev, CFA - Member of the Board of Directors - Sirma Group 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. 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. 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 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. Prior to founding Colle Capital, Ms. 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. Ostrover, now 50, who helped build the leveraged-finance business at investment bank Donaldson, Lufkin & Jenrette during the 1990s, explained his idea for solving Hovnanians liquidity problems. 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. 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. So-called PE funds may also buy out . An Heir Who's Ready to Take the Reins at New York Magazine All Rights Reserved. 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. 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. Now the emergence of alternative credit mirrors tools that equity investors have had with private equity, says TPGs Coulter. Wasserstein & Co. manages capital on behalf of institutional and individual investors. Chief Financial Officer and Chief Compliance Officer. 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. 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. EagleTree Capital has taken into consideration a variety of representative policy documents, including the United Nations Principles for Responsible Investment, in the development of our Environmental, Social and Governance (ESG) Policy. Mr. Bagaria began his career in the leveraged finance market in 1999. Wasserstein Debt Opportunities Management, LP ("WDO") is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. Though the three are equal partners at GSO, Smith and Ostrover often defer to Goodman for the final word. A deal between Blackstone and GSO, however, wasnt a no-brainer. This means that every time you visit this website you will need to enable or disable cookies again. The ESG Sub-Committee generally will meet on at least a weekly basis and its responsibilities will include: (i) engaging with EagleTrees deal teams on pre-acquisition ESG due diligence matters; (ii) engaging with EagleTrees third-party ESG specialists to conduct annual portfolio company-level ESG reviews; (iii) responding to investor and other stakeholder ESG requests; (iv) conducting annual employee training; and (v) reviewing and updating this Policy and EagleTrees ESG program, as necessary, from time to time. 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. 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. Wasserstein US Equity Partners IV | Palico 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. 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. The day in early 1983 that the three firms sent recruiters to the campus, Bennett Goodman was playing basketball; when the game went into overtime, he arrived too late to get into the crowded blue-chip presentations. At Apollo, Mr. Bagaria invested in several asset classes including senior debt, high yield bonds, mezzanine finance and equity. 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. Thats where you wanted to land a job if you were a Harvard Business School student. A Fundamentally Different Kind Of SPAC - Betsy S. Atkins 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. Chief Financial Officer - Appointed CFO of Gabelli Group in 2001, re-joined as CFO in 2014 (after serving company as independent director / advisor from 2008). 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. Lets face it, if a company can tap the public markets, they will, and theyll get a much better deal.. Since 2008, Blackstone has more than doubled its assets. By Stephen Grocer. The private equity business of the investment firm was not included . Wasserstein & Co. - Company Database | Wall Street Oasis Blackstones offices on Park Avenue are nothing short of glitzy, with unobstructed views of the New York skyline and floors connected by grand staircases with polished metal banisters. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. 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. From 2002 2004, Mr. McLellan worked as an analyst for Deutsche Bank focusing on Mergers & Acquisitions and Media Investment Banking. Harvard labor economist Claudia Goldin summarises the distance we've travelled over the past hundred years, in a kind of Five Ages of Women. GSO has provided much-needed credit to scores of troubled companies like Hovnanian that couldnt tap public markets or get bank loans. He also engineered a $479 million purchase of home security company SecurityLink by Chicago private-equity . She has strong personal and professional ties to East Africa being a fourth generation Tanzanian. 1 or 2 in their markets, looks at about 1,000 deals every year and completes fewer than 5 percent of those. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Ibrahim joined Alta Semper in 2021 as a General Counsel. from the University of California at Berkeley. 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.

Monroe County School Job Openings, Articles W