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. Its investment activities are focused on . Mr. Bagaria began his career in the leveraged finance market in 1999. Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. ("TCP"), have entered into a definitive agreement to acquire Globecomm from a New York-based private equity firm. At a bank youre working for anonymous shareholders, trying to make as much money as you can, he explains. 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. Patience is the key, says Smith, adding that GSOs funds and compensation are structured in such a way that staffers dont have to feel compelled to put money to work in deals that dont make sense. 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. 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. 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. All rights reserved. The future looks bright for credit investing. . Since 2008, Blackstone has more than doubled its assets. The latest messages and market ideas from Afsane Jetha (@afsanejetha) on Stocktwits. Contribute to the database and get 1 month free* Full online access! Drexel was a place where analysts spent days buried in the dense financials of dicey companies. The company would sell its property inventory to a land bank created by GSO in return for a $125million cash infusion. Founded in 2001, MVision Private Equity Advisers is widely recognized as one of the world's leading independent international alternative assets advisory firms, raising capital for Private Equity, Real Estate, Real Assets, Credit and Direct transactions in both the developed and emerging markets. And it might be only the beginning of an even bigger U.K. commitment to Ukraines rearmament. 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. Under Blackstone, GSO has the heft to write big enough checks to fully finance a solution, reducing a companys need to find additional capital elsewhere. 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. Work with portfolio companies to address ever-changing cyber-security considerations. 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. Original price $69.99. Mr. Montana joined Wasserstein Debt Opportunities Management, LP in 2014 as a Finance Associate. Over time GSO would sell the land back to the homebuilder. Pam Wasserstein | The Charles H. Revson Foundation Jan 2003 - Mar 20052 years 3 months. Rescue lending has returned an annualized 15.2 percent since inception in September 2009. Northstar Travel Group acquired by Wasserstein - Wicks Group Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. Deal Analysis: Queens Gambit SPAC To Acquire SWVL Over the last 30 years, Mr. Campbell has served as a member of the Boards of Directors of public and private companies operating both within the US and globally and for numerous investments while at Wasserstein & Perella Co., Veritas Capital and DC Capital. Wasserstein controlled Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. Prior to Duet, she was at GI Partners where she executed several transactions in the healthcare, consumer and real-estate sectors. EagleTrees ESG initiatives will be overseen by its ESG Committee, which includes EagleTrees two Co-Managing Partners and other members of senior management. 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). Consider whether a potential portfolio companys business aligns with EagleTrees core values. 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. 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. 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. 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 | LinkedIn Now the emergence of alternative credit mirrors tools that equity investors have had with private equity, says TPGs Coulter. Victoria Grace is a founding partner of Colle Capital Partners LP, an opportunistic, early stage technology venture fund. 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 the remainder of Wasserstein Perella by Dresdner Bank. 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. 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. When Bruce Wasserstein and Joe Perella Ruled the World - WSJ I love the underdog. While his friends at Harvard including one he describes as having had pinstripes on his diapers did summer internships at Wall Streets toniest firms, Goodman took a job with Drexel. 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. 1999 Avenue of the Stars Suite 2840 Los Angeles, CA 90067United States, 1301 Avenue of the Americas 41st FloorNew York, NYUnited States. The firms long-only strategies include a $24billion CLO business, making GSO the largest institutional investor in leveraged loans, as well as closed-end and other funds. The private equity business of the investment firm was not included . If youve been out in the battlefield for seven years, being shot at constantly, you dont know what to do if the bullets stop flying, he told Ostrover, who left the lunch uncertain whether the CEO would agree to his plan. When Smith was pitching deals at Credit Suisse, he was constantly being undercut by in-country banks. She co-founded Work It, Mom! 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. He later became CEO of Lazard Ltd, while at the same time sitting atop private equity firm Wasserstein & Co, which continues to operate. 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. With over 15 years of experience, the principals of Orkila seek to leverage their deep industry knowledge and . His ability to skillfully negotiate complex, high-stakes situations led to his appointment as head of investment banking at First Boston Corporation. Prior to joining Sheffield, Mr. McLellan worked at Apollo Global Management, LLC (AGM) from 2004 2010. Wasserstein Home | 849 followers on LinkedIn. To be sure, Blackstone is not the only manager to have smelled opportunity in the financing void. 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. This Policy is intended to provide a broad framework for EagleTrees overall approach to ESG. Approach prospective clients and partners; make presentations. At the same time, the platform gives it a lot of different eyes into potential investments. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. They have a zealous approach to protecting capital, and theyve found a way to extend credit to organizations that need it and structure it in a way that takes advantage of the environment at the time, says Blackstone chairman, CEO and co-founder Stephen Schwarzman. GSO has provided much-needed credit to scores of troubled companies like Hovnanian that couldnt tap public markets or get bank loans. In the 1990s, GSOs three founders, then working for Hamilton (Tony) James at DLJ, took up where Drexel left off, building that firm into the No. Mr. Lauder is currently the Chairman of Clinique Laboratories, a division of The Este Lauder Companies. By 1999, however, DLJ was hamstrung by its small balance sheet and a business that was primarily domestic. These initiatives and strategies include new product launches, entrance into new markets, add-on acquisitions and operational improvements. Ostrover asserted that not only would the market react positively to the initial financing but that the GSO-Blackstone brand would signal that there could be more behind it. More. As a result, the high-yield and leveraged-loan markets never developed in Europe to the extent they did in the U.S. In 1993, Goodman hired Smith from Salomon Smith Barney, where he worked on restructurings. 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. degree with a double major in Finance and Accounting from Lehigh University. He began his career at The First Boston Corporation. EagleTree intends to engage with clients and stakeholders, from time to time, in dialogue regarding how we can manage ESG issues in a way that is consistent with their initiatives. 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. (Though the hedge fund was launched in 2005, GSO has since stripped out mezzanine and other investments into separate funds.) 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. 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. Zachary has an MBA from The Wharton School at the University of Pennsylvania and a BA in Economics from Cornell University. EagleTree believes its collaborativeapproach toinvesting createsvalue across a defined set of initiatives developed in partnership with portfolio company management. After six months of negotiations, Goodman and his partners said yes. A +. 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. 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. He was appointed Chief Compliance Officer in January 2017. Look, the market hates your company, he told Hovnanian. The defanged banks are receding into the background and making peace with new regulations designed to emasculate their balance sheets. The former undrafted free agent's contract includes $1.4 million in remaining guaranteed salary. EagleTree seeks to improve diversity and inclusion within the Firm, across its portfolio company investments and in the private equity industry, where possible. 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 Instead, banks dominated the leveraged-finance markets, with few institutional buyers such as high-yield mutual funds. Prior to joining Alta Semper, he was a Senior Associate at Matouk Bassiouny in Cairo, Egypt (a leading regional law firm). Kenyas sole electricity distributor cited a system disturbance as a possible cause for the blackout. 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. At PWP, we seek talented people capable of broad and creative thinking with the drive to provide the highest quality advice to our clients. Richard was also previously the Head of Private Equity - Americas for Siemens Financial Services, Inc. Richard has invested in and worked . The new power brokers in the financial industry are money managers and investors like GSO, which control real assets. Mr. Bagaria is the Advisors President and Chief Investment Officer. He also has experience as an investment banker at New York boutique Wasserstein . Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. I dont feel like Im going to get my throat ripped out when I call GSO, says one CEO who has done multiple deals with the company. 2007: Bruce Wasserstein, American Investment Banker, Businessman, and Europe currently offers GSO the greatest opportunities. GSO, which is owned by private equity giant Blackstone Group, had spent six months digging into the finances of Hovnanian and had been buying up its equity, secured debt and unsecured debt since March. Before becoming President and Chief Investment Officer of Wasserstein Debt Opportunities Management, LP, in 2013, Mr. Bagaria was a Partner and Investment Committee member of Apollo Investment Management (Apollo), the investment manager of Apollo Investment Corporation (AIC), a publicly traded business development company.
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