Smith is the third generation in his Indianapolis Irish family to graduate from the Catholic university; two of his four kids are currently studying there. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 as an Associate. Europe currently offers GSO the greatest opportunities. Upon Dresdner Bank's acquisition of Wasserstein Perella in January 2001, Wasserstein & Co. was spun off as an independent company owned by Bruce who . He formerly served on the Board of Trustees of Lehigh University and served as Chairman of the Board of Trustees of Fordham Preparatory School. Afsane Jetha - Gaining Additional Experience. EagleTree continues to encourage all of its employees to actively engage in nonprofit volunteer activities and giving in our communities. A verification email is on its way to you. Convene 117 West 46th Street, New York, May 23-24, 2023 The firm had purchased a small CLO group, run by Daniel Smith, from Royal Bank of Canada. 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. 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. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. 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. So-called PE funds may also buy out . Mid-market firm Wasserstein & Co. has closed its latest flagship fund, Wasserstein Partners IV, on $790 million, according to a source familiar with the matter. When Bruce Wasserstein and Joe Perella Ruled the World. Indeed, when Hovnanian announced the land banking deal on July 13, 2012, its stock rose, its senior secured debt traded up from 84 to 97 cents on the dollar, and the price of the CDS contracts collapsed. Mr. Jones is currently Chairman of Wasserstein & Co. Prior to that, he was a managing director of Dresdner Kleinwort Wasserstein Private Equity Partners and related funds, and made and managed in excess of 30 private equity and partnership investments. contact@wasserco.com. Board Observer, Founding Partner at Colle Capital, Former Partner Wall Street Technology Partners , Director Dresdner Kleinwort Wasserstein Private Equity Group Neil Devani, JD Board Advisor, Investor & Advisor of Singularity Holdings VC Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. He began his career at The First Boston Corporation. Senior Vice President of North America Sales at Twilio. You should only be asked to sign in once. About Wasserstein & Co. Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. GSOs flagship hedge fund takes an activist or event-driven approach to credit. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. Mr. Bagaria began his career in the leveraged finance market in 1999. Bruce Wasserstein was an American investment banker, businessman, and writer who began his career as an attorney with Cravath, Swaine & Moore. . Afsane speaks conversational French, Gujarati and basic Swahili. In fact, the firm is preparing to be a buyer when rates rise and long-only mutual fund managers have to sell bonds to meet investor redemptions. He recently served on the Boards of Directors of Harry & David, Encompass Digital Media, and Access Scientific. We love your company., (Ostrover had his own hard-luck family bankruptcy story: His grandfather had to shutter Ostrovers Smoked Fish on New Yorks Lower East Side in the 1950s following a blackout; he couldnt pay his creditors because his customers fish had rotted.). Zacharys advisory experience was developed within the investment banking divisions of UBS and Goldman Sachs in New York and Johannesburg. [2], Perella left the firm for Morgan Stanley in 1993. Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. Ahmed joined Alta Semper in 2018 as a Director. Tudor, Pickering, Holt & Co. Securities - Canada, ULC is a Member of the Canadian Investor Protection Fund and the New Self-Regulatory Organization of Canada. Though hurt by the financial crisis, Blackstone and GSO have emerged as dominant players in its aftermath. EagleTree continues to promote diverse perspectives. Heres How To Trade The Stock Now, NBA Investigating Ja MorantGrizzlies Star Allegedly Flashed Gun On Instagram After Reports Of Violent Behavior, Liverpool Legend Roberto Firmino Reportedly Offers Himself To FC Barcelona, A Century Of Women, Work - And Juggling Family, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. This was more like a family reunion than an acquisition, says Schwarzman. degree in Business Administration from Western New England University with a concentration in finance. With Drexel and Milken gone amid a recession, many market watchers thought high-yield financing would die. 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. For its drawdown funds alone, it committed $3billion to 26 companies. As applicable, EagleTrees Investment Committees in partnership with the ESG Sub-Committee will oversee and consider ESG issues, if any, that are material to a potential company investment. EagleTree believes its collaborativeapproach toinvesting createsvalue across a defined set of initiatives developed in partnership with portfolio company management. Though he loved working on Wall Street, particularly at DLJ, Goodman wanted to spend all his time investing. Balkan Advisory Company, Sofia, Bulgaria. 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. Our e-commerce site allows you to purchase electronic devices & accessories smoothly at a great value. At PWP, we seek talented people capable of broad and creative thinking with the drive to provide the highest quality advice to our clients. 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. Among his extensive experience in advising local and international clients on cutting-edge M&A transactions, Ibrahim advised Alta Semper on its acquisition of Macro Group (Egypt) and ODM (Morocco). Terms aren't expected to be disclosed, but a person briefed on the matter said the price was about $417 million. Goodman is quick to credit the Blackstone brand for at least part of GSOs success. Mr. Bagaria earned a B.A. But thats starting to change as European banks need to deleverage and raise capital and companies desperately require funding. At the same time, the platform gives it a lot of different eyes into potential investments. 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. He holds an AB from Princeton University. 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. A link has been emailed to you - check your inbox. Aligning our interests with our investors creates a long-term partnership forsuccess. You had to figure things out and use your smarts instead of brute strength, Smith, 47, says. 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. That also plummeted in value. The deal wouldnt have happened without Goodman, Smith and Ostrovers former boss, Tony James, who had joined Blackstone as president in 2002 after Credit Suisse bought DLJ and who manages the firms day-to-day operations. corporate development. 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. Because of the regulatory environment, its harder for them to do that economically. a private-equity-owned . This Wasserstein & Co. works on 31 percentage points more the average amount of lead investments comparing to the other organizations. 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. Predecessor funds, U.S. Equity Partners I and II, were raised in 1997 and 2002 and invested approximately $750 million of committed equity capital. In Europe 70 to 75 percent of lending is done by banks. Blackstone Groups GSO Capital: Lenders of Last Resort. 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. 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. 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. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. It wants to stay off the front pages of newspapers. Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. Contribute to the database and get 1 month free* Full online access! Writing something down to zero is not your proudest moment, Goodman says. 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. When the markets rebounded in 1991, DLJ took over as a leading player. Ara Hovnanian, CEO of Hovnanian Enterprises, knew little about GSO Capital Partners before the credit-oriented alternative asset manager offered the struggling homebuilder a lifeline last year. Work with portfolio companies to address ever-changing cyber-security considerations. Wasserstein controlled Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. The GSO team is confident that the bright future investors are anticipating will lose its luster sooner or later, whether its because of inaction in Washington or rumblings from North Korea, Israel or Iran. West Palm Beach, FL 33401. Apologizing for the seeming hokeyness of it, he refers to a black-and-white picture in his office of New Yorks Orchard Street early in the past century, with unpaved, muddy roads; pushcarts; and a glimpse of Ostrovers Smoked Fish. Prior to this endeavor, she built a rich resume in the financial services sector, specifically working with private equity investment. The Hovnanian deal was originated through the hedge fund but later expanded to include the rescue financing fund. He reveres his middle-class upbringing first in Queens, New York, and later in Stamford, Connecticut and says that when he was growing up he didnt know anyone who worked on Wall Street. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. How has the Suns' new starting group performed? This Policy is intended to provide a broad framework for EagleTrees overall approach to ESG. GSO represents 26.6 percent of the firms $218billion in assets, on par with its $59billion real estate business and larger than both its private equity ($52billion) and Blackstone Alternative Asset Management hedge fund ($48billion) businesses. Its investments included City Ventures, a private homebuilder in Orange County, California, now planning to go public; EMI Music Publishing; Energy Alloys, a global provider of oil field metals; Spains Giant Cement Holding; and the U.K.s Miller Group. The congressman supported new gun legislation after a school shooting in Uvalde, located in his district. 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. Wasserstein Home | 849 followers on LinkedIn. Mr. Lauder is currently the Chairman of Clinique Laboratories, a division of The Este Lauder Companies. By that July the three partners had launched GSO with 25 employees and one hedge fund. The only opening that day was for Drexel, which was at the bottom of the Wall Street pecking order even as it dominated the business of financing non-investment-grade companies. Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. from the University of California at Berkeley. But things were changing, and they would get their chance soon. He also engineered a $479 million purchase of home security company SecurityLink by Chicago private-equity . Consider whether a potential portfolio companys business aligns with EagleTrees core values. Previously, Mr. Kelsey worked at Jefferies LLC in the Leveraged Credit Research group where he was responsible for covering the gaming and retail sectors. [9] In the late 1990s, Schwarzman, a client of DLJs, asked Goodman to start a credit business at Blackstone. 1185 Avenue of the Americas Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). Many investors wouldnt know how to approach that.. 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. Jan 2003 - Mar 20052 years 3 months.