corporate development. Work with portfolio companies to advance EagleTrees ESG principles with the goal of improving long-term performance and minimizing adverse impacts in these areas. 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. He began his career at The First Boston Corporation. Tailor specific ESG inquiries and approaches based on various investment factors including the core industry sector of a particular investment. Consider whether a potential portfolio companys business aligns with EagleTrees core values. I dont feel like Im going to get my throat ripped out when I call GSO, says one CEO who has done multiple deals with the company. 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. That also plummeted in value. He currently serves on the Board of Governors of the Middle East Institute and is a former Vice Chairman of the organization. The firm was launched in May 2013 by Rajay Bagaria with backing from Wasserstein & Co. Wasserstein & Co. is a private investment firm and the family office of the late Mr. Bruce Wasserstein, with offices in New York and Los Angeles. This is bolstered by our expert shareholder base, which brings experienced strategic and operating partners to our transactions and best-in-class management teams. 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. In 2006, four years after Wasserstein's departure, it dropped Wasserstein's name. 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. 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. He holds a BA in Finance from the American University of Cairo and an Executive Education in Corporate finance from London Business School. Although they enjoyed being their own bosses, they missed the prestige, and the deals, that came with being part of a big organization. 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. Today, the firm manages approximately $2 billion of capital on behalf of institutional and individual investors, including public and corporate pension funds, foreign governmental entities, endowments and foundations and high net worth individuals. His research and publications focus on international development with a special focus on capacity building in health care and biopharmaceutical production in emerging economies. In 1987 the Los Angelesbased Milken called Goodman, who by this time focused on LBOs, telling him he should move to Beverly Hills and work for Friedman (who would go on to co-found hedge fund firm Canyon Capital Advisors). Current market conditions are setting the stage for a lot of future opportunities for GSO. She is a graduate of the University of Pennsylvania's Wharton School where she earned her BS in Economics. Aligning our interests with our investors creates a long-term partnership forsuccess. Afsane Jetha began her career at Merrill Lynch and Wasserstein Private Equity before moving on to the consumer team at Permira in London. Duties include reviewing potential transactions, analyzing investor and partner needs, analyzing and making financial decisions, and preparing reports. But that is likely to change as banks shed assets to deleverage and companies need capital. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, 101 Investment Banking Interview Questions. Even so, GSO has 31 investment professionals in London, and they are doing more deals now than the firm is doing in the U.S. Nearly five full years after the worst of the financial crisis, the real estate market is finally on the mend, investors are wondering if homebuilders stocks have rallied too far, and the outlines of the new order of Wall Street are coming into sharper focus. Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. The firm seeks to . degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. 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. Its amorphous, and you dont know the people. Smith calls Europe a huge opportunity maybe a little like what Milken saw in the 1980s and DLJ in the 90s. 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. When Smith was pitching deals at Credit Suisse, he was constantly being undercut by in-country banks. Goodman and Ostrover joke that Smith was responsible for DLJs success. 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. 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. Instead, banks dominated the leveraged-finance markets, with few institutional buyers such as high-yield mutual funds. He also served on the Board of Directors of the Center for a New American Security and the National Guard Youth Foundation. RELATED STORIES Dresdner deal nearly done - Sept. 15, 2000 Mr. McLellan began his career in direct investing in 2004. Wasserstein Home | 848 followers on LinkedIn. Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. If you miss your Wasserstein Fellow appointment without notifying OPIA at least 24 hours in advance to cancel or reschedule your appointment, you will be barred from signing up [] 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. degree in Finance and Economics from the City University of New York with a concentration in Investment Analysis. 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 firm honed the skills needed to look at an ugly financial situation and determine the commercial viability of a financing for both the companies and investors. He was a graduate of the McBurney School, University of Michigan, Harvard Business School, and Harvard Law School, and spent a year at the University of Cambridge.He was prominent in the mergers and acquisitions industry, credited with working on 1,000 transactions with a . The world had changed, and the firm needed a partner. Our e-commerce site allows you to purchase electronic devices & accessories smoothly at a great value. 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She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. degree in Finance and Government from the University of Notre Dame in 2002, graduating magna cum laude. Morants agent denied previous allegations he hit and flashed his gun at a teenager suggesting they were made to tarnish his reputation. [1], In a 2007 New York Times article, Perella was described as "one of the financial industrys sharpest recruiters" who "discovered and helped train" Wasserstein Perella. and co-managed the company for five years until its merger. The private equity business of the investment firm was not included in the sale and was . Shortly thereafter Ostrover assumed responsibility for leveraged finance and Smith joined Goodman in the alternatives group. The former undrafted free agent's contract includes $1.4 million in remaining guaranteed salary. Previously, Mr. Montana worked at State Street Investment Management Services where he was responsible for fund administration in Global Emerging Markets. 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. 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. 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. GSO is actively managing the leveraged-loan ETF, the first of its kind. The ESG Committee will meet at least quarterly. 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. If you're happy with cookies click proceed. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. Afsane is tiedpersonally and professionallyto East Africa as she is a fourth-generation Tanzanian. He began his career at The First Boston Corporation. He is in charge of all of the Firms operations and leads the investment decision making process for all capital investments. He also has experience as an investment banker at New York boutique Wasserstein . Register now to read this article and more for free. He serves on the Board of Directors of USO Metro and the Board of Trustees of the Pomfret School. Mr. Kelsey earned a B.S. Ahmed speaks English and Arabic and is based between Cairo and London. Look, the market hates your company, he told Hovnanian. The higher amount of exits for fund were in 2011. 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 Team. Mr. Kelsey joined Wasserstein Debt Opportunities Management, LP in 2013 as an Associate. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. After about a year of fundraising, commitments from existing LPs reached $790m, surpassing the original $750m target. How has the Suns' new starting group performed? Mr. Jones is currently Chairman of Wasserstein & Co. Salesforce beat earnings-per-share estimates after the closing bell on March 1, 2023. She previously served as Partner at Wall Street Technology Partners LP and Director of the Dresdner Kleinwort Wasserstein Private Equity Group. 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. These initiatives and strategies include new product launches, entrance into new markets, add-on acquisitions and operational improvements. He also engineered a $479 million purchase of home security company SecurityLink by Chicago private-equity . 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. 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. We target businesses across a broad range of media and business services subsectors, including: B2B, enthusiast, digital and consumer media; trade shows and conferences; marketing and content services, education; and outsourced services. About Wasserstein family. On day one Credit Suisse gave the firm more than $500million to manage a big part of the approximately $3billion it had raised from outside investors, including the Bass brothers, Blackstone, Cornell University, K2 Advisors, MetLife, Notre Dame and Quellos Group (now owned by BlackRock). GSO also bought the debt of Clear Channel Communications, a private-equity-owned media company, and led a $1.25billion preferred stock deal for Chesapeake Energy so that company could develop natural-gas production from shale in eastern Ohio. Take the highly confident letter, a piece of paper Drexel would issue to the board of a company as a promise that it would provide financing on deals. 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. Thats where you wanted to land a job if you were a Harvard Business School student. 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. 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.
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