The strategy of Alta Semper is to invest flexible and strategic capital into market-leading business models in the . 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. Richard was also previously the Head of Private Equity - Americas for Siemens Financial Services, Inc. Richard has invested in and worked . Engage with outside advisors, as necessary, to analyze and address ESG issues, risks and opportunities that arise. Fully 80 percent of GSOs senior management team is from DLJ. Grace serves as the CEO of Queen's Gambit. You couldnt hope to compete because the banks were so aggressive, he says. [4] Wasserstein stayed through the 2001 takeover by Dresdner Bank, but left the firm in 2002, following the 2001 merger of Dresdner and Allianz,[5] to head investment bank Lazard,[6] until his unexpected death in 2009. 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. After six months of negotiations, Goodman and his partners said yes. Mr. Kelsey joined Wasserstein Debt Opportunities Management, LP in 2013 as an Associate. Original price $69.99. Aligning our interests with our investors creates a long-term partnership forsuccess. In its five years in the Blackstone fold, GSO has gone from having two fund products to managing 27. 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. Bruce Jay Wasserstein (December 25, 1947 - October 14, 2009) was an American investment banker, businessman, and writer. GSO now has offices in New York, London, Dublin and Houston. Prior to joining Sheffield, Mr. McLellan worked at Apollo Global Management, LLC (AGM) from 2004 2010. We stand on this very busy street corner and see all this activity, says customized credit strategies partner Daniel Smith. Perella Weinberg Partners LP and Tudor, Pickering, Holt & Co. Securities, LLC are members of FINRA and SIPC.Perella Weinberg UK Limited is authorized and regulated by the Financial Conduct Authority.Perella Weinberg Partners France is authorized and regulated by the ACPR and by the AMF. The ESG Committee will meet at least quarterly. No one has represented Blackstones opulence more than its billionaire co-founder Schwarzman, who in 2000 reportedly paid $37million for a 34-room triplex on Park Avenue and has owned vacation properties in the Hamptons; Jamaica; Palm Beach, Florida; and Saint-Tropez. Douglas Ostrover, the O in GSO, invited him to lunch at Manhattans Core Club in July 2012, just as the U.S. housing market was showing a few signs of life. EagleTree seeks to improve diversity and inclusion within the Firm, across its portfolio company investments and in the private equity industry, where possible. As 2008 wore on and the credit crisis gathered steam, GSO started putting money to work. 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. 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. The high activity for fund was in 2002. Wasserstein & Co. www.wasserco.com 1999 Avenue of the Stars Suite 2840 Los Angeles, CA 90067-6086 Anup Bagaria Vice Chairman and Managing Director 2023 Forbes Media LLC. Thats where you wanted to land a job if you were a Harvard Business School student. He was appointed Chief Compliance Officer in January 2017. Working directly with CEO, funds . But after his wife, Meg, refused to leave New York, Goodman quickly set his sights on DLJ, a midsize investment bank known for equity research and a certain scrappiness and entrepreneurial culture. 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. GSO LIKES A LITTLE, BUT NOT TOO much, market misery. Mr. Lauder is currently the Chairman of Clinique Laboratories, a division of The Este Lauder Companies. Mr. McLellan joined Wasserstein Debt Opportunities Management, LP in 2017 as a Managing Director. The private equity business of the investment firm was not included in the sale and was to be sold off to existing Wasserstein shareholders. [2] One First Boston analyst, Paul Mecurio, left corporate life to become a comedian. Look, the market hates your company, he told Hovnanian. Afsane speaks conversational French, Gujarati and basic Swahili. You can find out more about which cookies we are using or switch them off in settings. Jones received his MBA from the Yale School of Management and his B.S. Mr. Bagaria is a co-founder and serves on the Board of Directors of The Manitou School, a private elementary school located in Cold Spring, New York. Terms aren't expected to be disclosed, but a person briefed on the matter said the price was about $417 million. The company initially approached Blackstones private equity group for a $500million infusion of equity, but it wanted a controlling stake and Sony wasnt about to do that. There is a wealth transfer going on from banks shareholders to the investors in our funds, says Goodman. Prior to joining Alta Semper, he was a Senior Associate at Matouk Bassiouny in Cairo, Egypt (a leading regional law firm). We conduct our buyout investment activities through the Wasserstein Partners family of funds. She holds a BCom in Economics and Finance from McGill University and speaks English, Arabic and Armenian, and is proficient in French. During the road show, Blackstone disclosed its numbers, showing heft in private equity, real estate and funds of hedge funds, but credit was an afterthought, amounting to only about $5billion in assets. The future looks bright for credit investing. In the process, Drexel helped spark an unprecedented era of prosperity in the U.S. as companies like Ted Turners Turner Broadcasting System, Craig McCaws McCaw Cellular Communications and William McGowans MCI Communications Corp. rapidly expanded by using this newly available source of capital. The next month Lehman Brothers Holdings filed for bankruptcy and all hell broke loose. As one of the largest creditors of MBIA and holders of its equity, GSO had a big win last month when the Armonk, New Yorkbased provider of municipal bond insurance finally settled a dispute with Bank of America Corp. after years of wrangling over troubled mortgage-backed securities. 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. When Smith was pitching deals at Credit Suisse, he was constantly being undercut by in-country banks. 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. GSO has provided much-needed credit to scores of troubled companies like Hovnanian that couldnt tap public markets or get bank loans. 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. Well before the downgrade of the U.S.s credit rating in August 2011, GSO was busy preparing for the possibility that markets would freeze up if the rating agencies made good on their threats. Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. 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 . But thats starting to change as European banks need to deleverage and raise capital and companies desperately require funding. 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. After about a year of fundraising, commitments from existing LPs reached $790m, surpassing the original $750m target. Pam Wasserstein is the President of Vox Media, the leading independent modern media company, where she oversees strategic initiatives, including e-commerce and consumer businesses, as well as the New York Magazine brands. The death of Lazard Ltd. Chief Executive Bruce Wasserstein will trigger the vesting of stock currently valued at $188 million, confirming Mr. Wasserstein's status as one of history's most highly . Prior to joining Wasserstein & Perella Co., Inc., Mr. Campbell was an officer of Manufacturers Hanover Trust Co., where he was a member of the Acquisition Finance Group that was responsible for originating, structuring, and syndicating leveraged loans for such notable sponsors as Kohlberg Kravis Roberts & Co., among others. [2], Perella left the firm for Morgan Stanley in 1993. In July 2007, he sold American Lawyer Media to Incisive Media for about $630 million in cash. 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. About Wasserstein Partners IV Wasserstein Partners IV is a mid-market buyout fund managed by WP Capital Management, the private equity investment company formerly associated with Wasserstein Perella Group and Wasserstein & Co. If you're happy with cookies click proceed. 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. That also plummeted in value. The defanged banks are receding into the background and making peace with new regulations designed to emasculate their balance sheets.
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