Thats where you wanted to land a job if you were a Harvard Business School student. Venture Capital. 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. He now manages its hedge fund. Previously she was a partner at Wall Street Technology Partners LP, a $125mm mid stage technology fund. Prior to joining Alta Semper, he was a Senior Associate at Matouk Bassiouny in Cairo, Egypt (a leading regional law firm). EagleTree continues to promote diverse perspectives. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. 2005-2023 Wall Street Oasis. 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. 1 underwriter for high-yield bonds, a distinction it would keep for 12 years. At the same time, Blackstone had relationships with almost every major institutional investor in the world, a group that had, on average, $200million in assets invested with the firm. He was CEO since the firms formation in 2001 through 2012. 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. Goodman is the storyteller of the group, Ostrover is Mr. Markets, and Smith wants to stay out of the limelight and just do deals. Afsane Jetha began her career at Merrill Lynch and Wasserstein Private Equity before moving on to the consumer team at Permira in London. Prior to that, he worked for 14 years in Senior Hedge Fund operations positions for top tier firms, including IFS State Street and HSBC. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. The latest messages and market ideas from Afsane Jetha (@afsanejetha) on Stocktwits. And it might be only the beginning of an even bigger U.K. commitment to Ukraines rearmament. Wasserstein Debt Opportunities Management, LP (WDO) is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. 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. 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. and co-managed the company for five years until its merger. Mr. Jones received his MBA from the Yale School of Management and his B.S. In July 2007, he sold American Lawyer Media to Incisive Media for about $630 million in cash. The company would sell its property inventory to a land bank created by GSO in return for a $125million cash infusion. We have a reputation for identifying and . Register now to read this article and more for free. 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. A link has been emailed to you - check your inbox. At a bank youre working for anonymous shareholders, trying to make as much money as you can, he explains. Mr. Kelsey earned a B.S. (212) 702-5602 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. PWP provides advice to management teams and Boards of Directors on critical matters that require shareholder interaction and support, including shareholder votes on transactions and annual proxy matters, as well as shareholder activism preparation and managing a company campaign in response to an attempt by an activist to gain board control or influence. 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 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. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 as an Associate. 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. Orkila Capital was formed in 2013 to pursue proprietary and compelling growth equity investment opportunities in the media, entertainment and consumer sectors. The Team. Credit jumped off the page.. A +. Premium. At Apollo, Mr. Bagaria invested in several asset classes including senior debt, high yield bonds, mezzanine finance and equity. The congressman supported new gun legislation after a school shooting in Uvalde, located in his district. GSO represented 38.9 percent of Blackstones $629million of realized performance fees earned in 2012 and 16 percent of the firms $2billion in economic net income last year. His health-related management education works includes the design and delivery of the health care management MBA and executive programs at the Indian School of Business, as well as the health care management program at Strathmore University in Nairobi. Prior to joining Alta Semper, Ahmed was a Director at CI Capital Investment Banking, a leading Cairo-based investment bank, where he sourced, led and executed several capital markets and M&A transactions. Private Equity Associates work as a team to initiate and continue the funding process of new private equity firms. 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. The following March, Milken was indicted for racketeering and securities fraud. 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. 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. 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. We are using cookies to give you the best experience on our website. Mr. McLellan began his career in direct investing in 2004. 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. Key Takeaways. 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 . In 2006, four years after Wasserstein's departure, it dropped Wasserstein's name. [2] One First Boston analyst, Paul Mecurio, left corporate life to become a comedian. Since the financial crisis investment banks have been deleveraging and governments around the world have imposed stricter capital requirements on financial institutions, as the U.S. is doing with the Dodd-Frank Wall Street Reform and Consumer Protection Act. GSO and Blackstone actively share information. After earning his MBA in 1984, the Miami-born Goodman took a full-time job with Drexel in New York. degree in Individualized Study at New York University with studies at the London School of Economics, graduating cum laude. Chief Financial Officer and Chief Compliance Officer. 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. 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. PE firms charge a management fee of typically 2% of AMU and a performance fee of 20% of the profits. This was more like a family reunion than an acquisition, says Schwarzman. Mr. OKeefe earned a B.S. GSO LIKES A LITTLE, BUT NOT TOO much, market misery. Though investors seem to have set their concerns aside, GSO maintains that Europe poses the same risks to the global economy it always did and that rates must rise sometime in the next four years. Click here to register, Not for publication, email or dissemination, When it comes to private wealth, PE is still an unknown name, PE outperformed in US state pension portfolios over past two decades report, Side Letter: LPs biggest concerns; growing family offices; Bains VC vindication, Indiana Public Retirement System commits $450m to PE. 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 higher amount of exits for fund were in 2011. If we were Schmeckle & Schmeckle or just stand-alone GSO, theres no way the board of Sony or some of these other companies would have gone along with some no-name firm, he explains. In 2004, he added New York Magazine to his media empire. GSO now has offices in New York, London, Dublin and Houston. 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. We partner with entrepreneurs with the goal of building great brands. He began his career at The First Boston Corporation. Previously, he was the Managing Partner of the New York law firm Patterson, Belknap, Webb and Tyler. In the U.S. banks provide about 30 percent of lending, with capital markets and investors providing the remainder. EagleTree believes that it is better positioned to address many of the issues facing our portfolio companies in a rapidly changing world when we proactively incorporate ESG considerations into our investment approach. New York, NY 10036 Investment efforts are focused across threesectors: Focusing on brands, we target a wide range of consumer products, including personal care, food and beverage (including organic, natural and good-for-you), enthusiast/sporting, housewares and luxury products, among others. GSOs investors, by contrast, had a paltry $22million invested with Goodman, Ostrover and Smith. But its deals remained small, providing funding for companies like Pacific Lumber and Caff Nero, a U.K. coffeehouse chain. 1185 Avenue of the Americas 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 . 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. Work with portfolio companies to integrate sustainability considerations into their business plans, as applicable. 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. A month after its launch, GSO hired Donald (Dwight) Scott, who ran the energy practice at DLJ before joining El Paso Corp. in 2000. Most PE firms are open to accredited investors or those who are deemed high-net . In 2007, the peak for the firms performance fees, private equity contributed the bulk of the total. Hard work got him noticed at Drexel, as well as a meeting with Moran. The Retail, Wholesale and Department Store Union (RWDSU), yesterday said that, at REI Inc. in Cleveland, Ohio, have voted to join the RWDSU, making this the third unionized REI store in the U.S. 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. The high activity for fund was in 2002. 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. She has worked for GI Partners, Merrill Lynch, Wasserstein Private Equity, and Permira in London. 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. 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. (Though the hedge fund was launched in 2005, GSO has since stripped out mezzanine and other investments into separate funds.) He subsequently established the investment bank boutique Wasserstein Perella & Co., which he later sold . There was little room for error. I fell for it hook, line and sinker, says Goodman. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. 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. 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 firm seeks to . 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.. Process, was the least enthusiastic about the tie-up, concerned that they were trading away their autonomy. . Alta Semper Capital LLP is authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 756838. Mr. McLellan joined Wasserstein Debt Opportunities Management, LP in 2017 as a Managing Director. But, as Smith says, its also a great place to lose money. Goodman, Smith and Ostrover founded GSO in 2005 to provide capital to non-investment-grade cyclical companies that were going through a tough patch but had tangible assets to put up as collateral to protect the firms downside when it lent them money. Alexandria, VA 22314, 515 North Flagler Drive | Suite 1450 Portfolio, This content is from: The firm had purchased a small CLO group, run by Daniel Smith, from Royal Bank of Canada. *SHIPS WITHIN 1 - 2 WORKING DAYS SUPER BRIGHT LIGHT - Over 2000 lumens of light will enhance your camera's vision in low-light conditions and allow. 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. Though the three are equal partners at GSO, Smith and Ostrover often defer to Goodman for the final word. The firm, which has a competitive advantage by doing most of its own loan originations and investing in companies that are No. You can find out more about which cookies we are using or switch them off in settings. At that time, Drexel had a lock on the business. Thoughtful Electronics and Accessories for Smart Homes | Market leader and accessory manufacturer of smart home products such as Google Home, Nest, Ring, Arlo, Echo devices among others. Currently, Mr. Campbell is the Chairman of all of the Fund II portfolio companies, Michael Baker International, LLC, and The SPECTRUM Group, LLC. GSO was also overly dependent on Merrill Lynch and Credit Suisse, both of which were starting to feel pressure in the early days of the subprime crisis. It was the first of many overtures Blackstones executives would make to him. He recently served on the Boards of Directors of Harry & David, Encompass Digital Media, and Access Scientific.
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