Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. Previously, Mr. OKeefe worked at S&P Capital IQ Leveraged Commentary & Data Group where he was responsible for research on leveraged loans and high yield bonds. GSO and Blackstone announced the deal in January 2008. Victoria has worked with, and made investments in a broad range of companies, including enterprise software, wireless technologies, medical devices . 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. Mr. Montana earned a duel B.S. Then, in the 1980s at First Boston, and at Wasserstein Perella after 1988, together they helped create "a dynasty of bankers and executives that has spread throughout Wall Street and corporate America". This was more like a family reunion than an acquisition, says Schwarzman. Prior to that, he worked for 14 years in Senior Hedge Fund operations positions for top tier firms, including IFS State Street and HSBC. Private equity (PE) refers to capital investment made into companies that are not publicly traded. A -. At Apollo, Mr. Bagaria invested in several asset classes including senior debt, high yield bonds, mezzanine finance and equity. Afsane Jetha - Gaining Additional Experience. In 1992, Goodman hired Ostrover from Grantchester Securities, the high-yield arm of boutique investment bank Wasserstein Perella & Co., to run DLJ's sales and trading. And, yes, we've come a long way, baby! Aligning our interests with our investors creates a long-term partnership forsuccess. Other deals include the $25 billion merger of Swiss Bank Corp and UBS and the $10 billion merger of Morgan Stanley & Co. and Dean Witter Discover & Co.[10], "One of the Best Recruiters in the Neighborhood", "Michael J. Biondi, Banker and Deal Maker, Dies at 50", "Directors and Executive Officers of Lazard", "Investment banking: Walking away from Wall Street", Bruce Wasserstein, Chairman and CEO of Wasserstein Perella, https://en.wikipedia.org/w/index.php?title=Wasserstein_Perella_%26_Co.&oldid=1093705238, This page was last edited on 18 June 2022, at 09:47. Mr. Campbell is active in both geopolitical and philanthropic endeavors. The Capital Solutions Fund GSOs rescue lending vehicle is an object lesson in the maturation of alternative credit. All Rights Reserved. With nearly 400 . Competition from increasingly bigger banks was fierce. Offered through a separated managed account platform exclusively for family offices and institutional investors, Proven regulatory capital efficient solution for insurance companies, #1 performing leveraged loan strategy inception to date in the eVestment database (out of 60 funds). In 1995, Moran moved up to chief operating officer of fixed income, and Goodman took over all of leveraged finance. Because of the regulatory environment, its harder for them to do that economically. Register now to read this article and more for free. In 2015, EagleTree spun out of Wasserstein & Co, which was formed in January 2001, when the merchant banking group of Wasserstein Perella became an independent firm. Oct. 15, 2009 12:58 pm ET. A month after its launch, GSO hired Donald (Dwight) Scott, who ran the energy practice at DLJ before joining El Paso Corp. in 2000. In 2015, EagleTree spun out of Wasserstein & Co, which was formed in January 2001, when the merchant banking group of Wasserstein Perella became an independent firm. 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. As it turned out, GSO had done thorough credit analysis and structured the debt appropriately, and it made 1.5 times its investment in two years, with every company paying off its debts. Previously she was a partner at Wall Street Technology Partners LP, a $125mm mid stage technology fund. 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. Prior to Cordiant, she gained advisory experience as a Summer Analyst with the Investment Banking and Equity Capital Markets teams at Scotiabank in Toronto. The day in early 1983 that the three firms sent recruiters to the campus, Bennett Goodman was playing basketball; when the game went into overtime, he arrived too late to get into the crowded blue-chip presentations. A +. Mr. Parsons was named Americas Best CEO in the entertainment industry by Institutional Investor in 2005. In the era of Dodd-Frank and the Volcker rule, GSO and others like it, with their ability to make commitments, have more market power than ever, says Brian ONeil, chief investment officer of the $9billion-in-assets Robert Wood Johnson Foundation, the U.S.s largest philanthropic organization focused on public health and one of GSOs first investors. from the University of California at Berkeley. Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. 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 ESG Committee also aims to ensure that all EagleTree employees are aware of EagleTrees culture of social responsibility and any amendments to this Policy. 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. Wasserstein Debt Opportunities Management, LP (WDO) is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. After earning his MBA in 1984, the Miami-born Goodman took a full-time job with Drexel in New York. corporate development. ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) POLICY, TermsofUse and Other Important Disclosure. Shortly thereafter Ostrover assumed responsibility for leveraged finance and Smith joined Goodman in the alternatives group. 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. 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. Its not the Wild West, not the personality-driven days of 20 years ago. GSOs returns have been top quartile. Eleven months later the U.S. housing rebound is official and Hovnanian Enterprises is flourishing, expecting 2013 to be its first profitable year since 2006. He also engineered a $479 million purchase of home security company SecurityLink by Chicago private-equity . Jones received his MBA from the Yale School of Management and his B.S. The stock rose 170 percent between July 2012 and the end of the year. 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. There is a wealth transfer going on from banks shareholders to the investors in our funds, says Goodman. Though he loved working on Wall Street, particularly at DLJ, Goodman wanted to spend all his time investing. 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. Manage and implement various projects in the fields of corporate finance, mergers & acquisitions, project finance, capital markets, private equity and asset management. Hovnanian, who had lived through several real estate cycles, was shocked when Ostrover told him the price of the five-year CDS contracts on Hovnanian implied a 93 percent probability of default. Stephen M. Sammut is a Senior Fellow in Health Care Management and a Lecturer in Entrepreneurship at The Wharton School of the University of Pennsylvania where he has taught over 11, 000 students in the last 25 years. He is in charge of all of the Firms operations and leads the investment decision making process for all capital investments. So the firm created the bridge loan, not promising capital but intended to tide the company over until it could obtain permanent financing. With assistance from the ESG Sub-Committee and outside ESG specialists, as appropriate, EagleTrees deal teams will manage and monitor material ESG issues that have been identified during portfolio company ownership. The honeymoon was over quickly, though. In September 1988 the Securities and Exchange Commission sued Drexel for insider trading and stock manipulation. But in June 2004, John Mack, then CEO of CSFB in the U.S., announced he was leaving; the Credit Suisse board had decided not to renew his contract. Mr. Jones received his MBA from the Yale School of Management and his B.S. 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. They began their partnership at the global investment bank, Wasserstein Perella & Co., where they led the merchant banking group. 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. Having a better understanding of credit markets, having a better idea of how we could finance a creative idea, would make us better in private equity, says James. Marina joined Alta Semper in January 2019. Mr. Bagaria earned a B.A. Contact Details Address:1301 Avenue of the Americas, 44th FloorNew York, NY 10019United States Phone/Fax:Phone: 212-702-600Fax: 212-702-635 Other Contact Details:Website: All HLS students are permitted to meet one-on-one with Wasserstein Fellows. He also served on the Board of Directors of the Center for a New American Security and the National Guard Youth Foundation. As 2008 wore on and the credit crisis gathered steam, GSO started putting money to work. At Goldman, Mr. Bagaria worked primarily as an investor of GS Mezzanine, the largest mezzanine fund globally. In 2008, Mr. Parsons served as a member of then-President-Elect Barack Obamas Economic Transition Team. We target investments of between $30 million and $150 million. 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. Drexel had unwittingly passed the high-yield baton to DLJ. The higher amount of exits for fund were in 2011. 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. 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. Prior to that, he worked for 14 years in Senior Hedge Fund operations positions for top tier firms, including IFS State Street and HSBC. He currently serves on the Board of Governors of the Middle East Institute and is a former Vice Chairman of the organization. GSO is actively managing the leveraged-loan ETF, the first of its kind. Mr. Campbell is the Founder, Managing Partner and Chief Investment Officer. Mr. OKeefe earned a B.S. Zachary joined Alta Semper in 2016 and brings more than nine years of advisory and investing experience to the firm. His research and publications focus on international development with a special focus on capacity building in health care and biopharmaceutical production in emerging economies. The common things for fund are deals in the range of 10 - 50 millions dollars. The high activity for fund was in 2002. 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. Terms of the transaction were not disclosed. Investments can also be shared. RELATED STORIES Dresdner deal nearly done - Sept. 15, 2000 Wasserstein Home | 849 followers on LinkedIn. 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. PWP provides comprehensive financial restructuring and capital structure advice in connection with stressed and distressed situations, including amendments, debt exchanges, financings, distressed M&A, and balance sheet recapitalizations. . Amid the froth GSO is now doing its preparatory work for the next crisis. Mr. Lauder has long been committed to civic causes, public policy issues and has pursued impact investments in Africa since 2012. degree in Finance and Government from the University of Notre Dame in 2002, graduating magna cum laude. After two games, Kevin Durant looks to be extremely comfortable in the Phoenix Suns' offense. Wasserstein Debt Opportunities Management, LP ("WDO") is a New York-based SEC-registered investment advisor focused predominately on leveraged loans and high yield bonds. GSO founders Goodman, Ostrover and Tripp Smith have emerged as lenders of last resort, filling the gaping financing void left by banks and opportunistic hedge funds in the wake of the 200809 financial crisis. 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. Convene 117 West 46th Street, New York, May 23-24, 2023 and co-managed the company for five years until its merger. Wasserstein controlled Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. Mr. Bagaria is the Advisors President and Chief Investment Officer. Overview of Wasserstein US Equity Partners IV Wasserstein US Equity Partners IV is a closed private equity fund managed by EagleTree Capital . 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 follows in the footsteps of Drexel and Michael Milken, who in the 1980s invented the junk bond market for non-investment-grade companies. Zachary has an MBA from The Wharton School at the University of Pennsylvania and a BA in Economics from Cornell University. Private equity is a financing method that facilitates companies to acquire direct investments from PE firms for a long-term without adopting the traditional ways of fundraising such as public listing or business loans. New York, NY 10036 She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. It took a week before Hovnanian softened, but GSO got its deal. Wasserstein & Co. manages capital on behalf of institutional and individual investors. Ostrover, now 50, who helped build the leveraged-finance business at investment bank Donaldson, Lufkin & Jenrette during the 1990s, explained his idea for solving Hovnanians liquidity problems. We stand on this very busy street corner and see all this activity, says customized credit strategies partner Daniel Smith. 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. 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. Mr. Montana joined Wasserstein Debt Opportunities Management, LP in 2014 as a Finance Associate. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. 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. By that July the three partners had launched GSO with 25 employees and one hedge fund. The former undrafted free agent's contract includes $1.4 million in remaining guaranteed salary. The EagleTree Capital team is currently investing its fifth private equity fund, EagleTree Partners V, with over $1.1 billion of committed capital. Afsane Jetha began her career at Merrill Lynch and Wasserstein Private Equity before moving on to the consumer team at Permira in London. Mr. McLellan earned a B.S. 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. As the market comes down, we put out a lot. 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. Remnants of the financial crisis continue to cast a shadow on markets, especially in Europe. The firm had purchased a small CLO group, run by Daniel Smith, from Royal Bank of Canada. In the late 1990s, Schwarzman, a client of DLJs, asked Goodman to start a credit business at Blackstone. 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. Todays Wordle #624 Hint, Clues And Answer For Sunday, March 5th, UFC 285 Results: Cody Garbrandt Defeats Trevin Jones In Return To The Octagon, The Early Returns Of Kevin Durant In The Phoenix Suns Offense, Desperate Russian Forces Are Sticking 80-Year-Old Naval Guns On 70-Year-Old Armored Tractors, Saturday, March 4. Don't have an account? Mr. Wasserstein died in 2009. Though DLJ investment banking staffers left in droves after the deal including James, though he stayed two years as part of the merger agreement Goodman, Smith and Ostrover flourished. Afsane speaks Gujarati and French and is fourth-generation Tanzanian. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. Mr. Parsons is also a member of the boards of The Estee Lauder Companies Inc., Lazard Freres and Company, and Madison Square Garden, Inc. Greg Parsons is the CEO of Semper Capital Management, and has been part of Semper Capital since 2008. When Smith was pitching deals at Credit Suisse, he was constantly being undercut by in-country banks. 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. He subsequently established the investment bank boutique Wasserstein Perella & Co., which he later sold . 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.