wasserstein private equity

At its peak, GSO had $475million in hedge fund exposure to homebuilders and related industries and put out $600 million in financing across private market vehicles. 1 or 2 in their markets, looks at about 1,000 deals every year and completes fewer than 5 percent of those. In contrast, GSO will take a minority stake, a seat on the board and a debtlike investment that pays a big double-digit coupon, but it will let management retain control. The fund, which launched in August 2015 with a $750 million target and no hard-cap, is the largest fund to date for the firm. The former undrafted free agent's contract includes $1.4 million in remaining guaranteed salary. Legacy ABOUT WASSERSTEIN. 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. While Goodman loves to talk, Ostrover has to be pressed for details. Alta Semper Capital Exits Egypts Macro Group Pharmaceuticals with the Successful Conclusion of its IPO, Alta Semper considers healthcare investment opportunities in Egypt, The Head of the Egyptian Macro Group told Al-Sharq: We are studying the acquisition of a local company in 2022. Mr. McLellan was hired by Mr. Bagaria and initially worked within AIC from 2004 2006 before moving into the Strategic Value Fund. Chief Financial Officer and Chief Compliance Officer. As a result, the high-yield and leveraged-loan markets never developed in Europe to the extent they did in the U.S. GSO is actively managing the leveraged-loan ETF, the first of its kind. He is in charge of all of the Firms operations and leads the investment decision making process for all capital investments. He is credited with the term, Pac-Man defense, which is used by . 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. Key Takeaways. EagleTree has a history of charitable giving and an active Philanthropic Committee that strives to support a number of charities from both a financial and volunteer perspective. 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. Credit Suisse bought DLJ for $11.5billion in 2000 and combined the firm with its New Yorkbased investment banking unit, Credit Suisse First Boston. We focus primarily on equipment and services relating to water (drinking, waste and industrial) and other general industrial businesses including: pipes, pumps and valves; specialty chemicals; engineering services; and sensors, meters and monitors. 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. We are using cookies to give you the best experience on our website. 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. 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. We take a unique approach to asset management. Mr. McLellan joined Wasserstein Debt Opportunities Management, LP in 2017 as a Managing Director. 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. The New England Patriots plan to release 37-year-old quarterback Brian Hoyer at the beginning of the 2023 league year, as first reported by SiriusXM NFL's Adam Caplan. That also plummeted in value. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). Previously she was a partner at Wall Street Technology Partners LP, a $125mm mid stage technology fund. In September 1988 the Securities and Exchange Commission sued Drexel for insider trading and stock manipulation. He has done extensive work on the implementation of precision medicine in the developing world. 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. But things were changing, and they would get their chance soon. 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. 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. We have a reputation for identifying and . 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. What the SPR Refill Means for Oil Futures, The Radical, Lucrative, and Controversial Company Hiding in Stephen Schwarzmans Pocket, Oats: From the Original Energy Contract to Trendy Dairy Alternative, Modern Slavery Act Transparency Statement. He worked across the private equity life cycle including fund raising, new investments, portfolio management and exits. Rescue lending has returned an annualized 15.2 percent since inception in September 2009. 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. IN THE 1980S,WALL STREEThad a clear pecking order. 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. There was little room for error. Terms aren't expected to be disclosed, but a person briefed on the matter said the price was about $417 million. 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. Victoria Grace is a founding partner of Colle Capital Partners LP, an opportunistic, early stage technology venture fund. Alice Katwan on Linkedin. We stand on this very busy street corner and see all this activity, says customized credit strategies partner Daniel Smith. New York, NY 10036 But by the end of 2009, the firm had $24billion in assets. Though hurt by the financial crisis, Blackstone and GSO have emerged as dominant players in its aftermath. All Rights Reserved. Though he loved working on Wall Street, particularly at DLJ, Goodman wanted to spend all his time investing. A month after its launch, GSO hired Donald (Dwight) Scott, who ran the energy practice at DLJ before joining El Paso Corp. in 2000. After about a year of fundraising, commitments from existing LPs reached $790m, surpassing the original $750m target. They do it because they cant get the capital otherwise. And many companies say GSO doesnt scrape every penny out of a deal. Prior to joining Alta Semper, Zachary was a Senior Associate at Emerging Capital Partners where he covered infrastructure and consumer / retail investments in Kenya. 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. Prior to this endeavor, she built a rich resume in the financial services sector, specifically working with private equity investment. Work with portfolio companies to address ever-changing cyber-security considerations. We target investments of between $30 million and $150 million. This was more like a family reunion than an acquisition, says Schwarzman. The strategy of Alta Semper is to invest flexible and strategic capital into market-leading business models in the . from the University of California at Berkeley. He currently serves on the Board of Governors of the Middle East Institute and is a former Vice Chairman of the organization. He holds graduate and undergraduate degrees in life sciences and humanities from Villanova University, studied medicine and epidemiology at the Hahnemann Medical College, and has an MBA from the Wharton School of the University of Pennsylvania and a Doctorate in Business Administration from the Fox School of Business at Temple University. Credit geeks Goodman, Ostrover and Smith nonetheless went to Blackstones extravagant road show at New Yorks Pierre hotel in the spring of 2007, the first time that granular detail about the private equity firm was available to the public. 1 leveraged-finance player, lending to blemished companies that were in some of the fastest-growing sectors of the U.S. economy, including energy exploration and homebuilding. She co-founded Work It, Mom! He is a CFA charterholder. We build SMAs to meet clients yield and volatility targets. 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. 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. [2], Perella left the firm for Morgan Stanley in 1993. Please check your spam or junk folder just in case. She co-founded Work It, Mom! Business Video. Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. When Sony was trying to buy EMI in the fall of 2011, it couldnt consolidate all the debt onto its balance sheet without getting downgraded. Afsane Jetha began her career at Merrill Lynch and Wasserstein Private Equity before moving on to the consumer team at Permira in London. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. Mr. Wasserstein died in 2009. She holds a BCom in Economics and Finance from McGill University and speaks English, Arabic and Armenian, and is proficient in French. This Policy does, however, retain the same fundamental principles and our commitment to integrate ESG considerations into our investment management business and portfolio company ownership practices. View full details. 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. Victoria has worked with, and made investments in a broad range of companies, including enterprise software, wireless technologies, medical devices . In the late 1990s, Schwarzman, a client of DLJs, asked Goodman to start a credit business at Blackstone. The company would sell its property inventory to a land bank created by GSO in return for a $125million cash infusion. The approximately $4billion portfolio was distributed across GSOs own funds as well as Blackstones private equity portfolios. On top were three white-shoe firms: First Boston Corp., Goldman Sachs and Morgan Stanley. Now the emergence of alternative credit mirrors tools that equity investors have had with private equity, says TPGs Coulter. Though the three are equal partners at GSO, Smith and Ostrover often defer to Goodman for the final word. Hovnanian, for his part, was not convinced that the market would react as positively as Ostrover suggested. But that is likely to change as banks shed assets to deleverage and companies need capital. 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. At Apollo, Mr. Bagaria invested in several asset classes including senior debt, high yield bonds, mezzanine finance and equity. GSO now has offices in New York, London, Dublin and Houston.

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