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They began their partnership at the global investment bank, Wasserstein Perella & Co., where they led the merchant banking group. A deal between Blackstone and GSO, however, wasnt a no-brainer. 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. The EagleTree Team has worked together for over 25 years. Dresdner buys Wasserstein in $1.4 billion deal - Sep. 18, 2000 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. 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. Former Senior Vice President of North America Sales at Genesys. 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. Work with portfolio companies to address ever-changing cyber-security considerations. Highlight the portfolio companys progress on ESG matters. 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. The private equity business of the investment firm was not included . A +. After James joined Blackstone, Goodman took over CSFBs alternative capital division. Mr. Montana earned a duel B.S. Leveraged loans offer a hedge against interest rates and can augment a largely xed-rate portfolio. GSO now has offices in New York, London, Dublin and Houston. At that time, Drexel had a lock on the business. from the University of California at Berkeley. 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. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Smith, who calls himself Mr. 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. 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. With Blackstone they would get scale, a brand, idea-sharing with the firms deal makers and access to new and larger clients. 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. In contrast to the few traditional deals a year that a junior banker at Goldman might work on, Goodman cut his teeth on such unusual transactions as KKRs investment in Union Texas Petroleum Holdings in 1985 and Maxams 1986 takeover of Pacific Lumber Co. For the latter he and Joshua Friedman, then head of the capital markets group at Drexel, came up with a term sheet for a zero-coupon increasing-rate note whose complexity and model they still laugh about. Wasserstein, who was immortalized in a 1989 Forbes cover story that cemented his infamous nickname, had a passion for the media, having interned at Forbes during his student years in 1969. 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. 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. Goodman is the storyteller of the group, Ostrover is Mr. Markets, and Smith wants to stay out of the limelight and just do deals. [2] One First Boston analyst, Paul Mecurio, left corporate life to become a comedian. My Top SPAC Play for 2021 - Data Intelligence. Mr. Bagaria also held responsibilities related to secondary trading, investment team development, portfolio company work-outs and the development of Apollos energy lending and aviation investment platforms. Previously, Mr. Jones was Head of West Coast Investment Banking at Wasserstein Perella and, prior to that, was Managing Director at Salomon Brothers from 1988 through 1994. She holds a BCom in Economics and Finance from McGill University and speaks English, Arabic and Armenian, and is proficient in French. Thats where you wanted to land a job if you were a Harvard Business School student. Manage and implement various projects in the fields of corporate finance, mergers & acquisitions, project finance, capital markets, private equity and asset management. What was a wide-open white space for us? 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 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. She co-founded Work It, Mom! Do you thrive in a challenging environment that combines intensity with collaboration? 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. EagleTree has always strived to maintain a strong culture of good governance to ensure that it operates in a socially responsible manner. After six months of negotiations, Goodman and his partners said yes. GSO is actively managing the leveraged-loan ETF, the first of its kind. The Team | Alta Semper | Private Equity Firm The Deutsche Bank portfolio was marked to about 5 cents on the dollar for the quarter ended March 31, 2009. The congressman supported new gun legislation after a school shooting in Uvalde, located in his district. 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. Grace serves as the CEO of Queen's Gambit. Convene 117 West 46th Street, New York, April 19-20, 2023 Joseph H. Lauder Institute of Management and International Studies. Drexel was a place where analysts spent days buried in the dense financials of dicey companies. We stand on this very busy street corner and see all this activity, says customized credit strategies partner Daniel Smith. EagleTree seeks to improve diversity and inclusion within the Firm, across its portfolio company investments and in the private equity industry, where possible. document.write(new Date().getFullYear()); Blackstone Groups GSO Capital: Lenders of Last Resort. Previously, he served as an Associate Principal at McKinsey & Company in the Financial Services Group. Overview of Wasserstein US Equity Partners IV Wasserstein US Equity Partners IV is a closed private equity fund managed by EagleTree Capital . Mr. Lauder is currently the Chairman of Clinique Laboratories, a division of The Este Lauder Companies. 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. GSOs hedge fund invested in public securities, mezzanine debt and distressed debt and provided some rescue lending for companies going through liquidity problems. The latest messages and market ideas from Afsane Jetha (@afsanejetha) on Stocktwits. The future looks bright for credit investing. The market is saying youre going bankrupt, Ostrover added. degree in Business Administration from Western New England University with a concentration in finance. 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. Mr. OKeefe earned a B.S. Richard was also previously the Head of Private Equity - Americas for Siemens Financial Services, Inc. Richard has invested in and worked . Work with portfolio companies to integrate sustainability considerations into their business plans, as applicable. EagleTree continues to encourage all of its employees to actively engage in nonprofit volunteer activities and giving in our communities. He holds an AB from Princeton University. PDF Private Equity Firms in Southern California - Los Angeles County DLJ used its market position to keep reinvesting in the firm, building a leveraged-loan capability and creating a derivatives business and large distressed unit. MVision He later became CEO of Lazard Ltd, while at the same time sitting atop private equity firm Wasserstein & Co, which continues to operate. 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. Marina is based in Alta Sempers Cairo office. 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. In 2007, Merrill Lynch & Co. took a minority stake in GSO and the firm had its first closing for a new mezzanine fund. Bruce Wasserstein was an American investment banker, businessman, and writer who began his career as an attorney with Cravath, Swaine & Moore. 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. Ting-Li Wang/The New York Times. This was more like a family reunion than an acquisition, says Schwarzman. Mr. Campbell is active in both geopolitical and philanthropic endeavors. 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. degree in Finance and Government from the University of Notre Dame in 2002, graduating magna cum laude. With nearly 400 . 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. 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. Morants agent denied previous allegations he hit and flashed his gun at a teenager suggesting they were made to tarnish his reputation. 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. 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. He was CEO since the firms formation in 2001 through 2012. 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. Mr. Jones received his MBA from the Yale School of Management and his B.S. We build SMAs to meet clients yield and volatility targets. He serves on the Board of Directors of USO Metro and the Board of Trustees of the Pomfret School. 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. Mr. OKeefe earned a B.S. 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. In 2004, he added New York Magazine to his media empire. In this regard, EagleTree has adopted a Diversity & Inclusion Statement and, in 2021, became a signatory to ILPAs Diversity in Action Initiative. 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. He also has experience as an investment banker at New York boutique Wasserstein . 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. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. The former undrafted free agent's contract includes $1.4 million in remaining guaranteed salary. Liverpool legend Roberto Firmino has offered himself to FC Barcelona through his agent, according to a report. Before that she was a Director of Dresdner Kleinwort Wasserstein Private Equity Group. The company would sell its property inventory to a land bank created by GSO in return for a $125million cash infusion. All rights reserved. EagleTree continues to maintain policies and procedures that prohibit bribery and other illegal payments to public officials consistent with U.S. federal and state laws, and in an effort to protect our systems, networks, programs, devices and data from cyber-attacks, has implemented a robust cyber-security framework. She has worked for GI Partners, Merrill Lynch, Wasserstein Private Equity, and Permira in London. Part of GSOs success comes from leaving some money on the table. PE firms charge a management fee of typically 2% of AMU and a performance fee of 20% of the profits. Greg is responsible for oversight and portfolio management at PIC. We decided that the banking system is a mess globally, so lets raise some money to lend to more troubled private companies that cant tap the markets and dont have access to the banks, says Ostrover. Mr. Kelsey joined Wasserstein Debt Opportunities Management, LP in 2013 as an Associate. Though it was satisfying to be on their own, Goodman, Ostrover and Smith were used to being No. Previously she was a partner at Wall Street Technology Partners LP, a $125mm mid stage technology fund. All HLS students are permitted to meet one-on-one with Wasserstein Fellows. He was CEO since the firms formation in 2001 through 2012. Prior to the IFC Ahmed developed his investment banking and corporate finance experience as a senior associate with Beltone Investment Banking, Ernst & Young and the Arab African International Bank. Mr. Wasserstein died in 2009. Jan 2003 - Mar 20052 years 3 months. From 2002 2004, Mr. McLellan worked as an analyst for Deutsche Bank focusing on Mergers & Acquisitions and Media Investment Banking. To support African health management excellence, he co-founded the African Institute for Health Care Management. 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. He began his business career in 1980 as a staff accountant at Coopers and Lybrand where he advanced to the position of tax manager, CPA, before his departure. 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. Mr. Campbell received a B.S. Prior to joining Alta Semper, Zachary was a Senior Associate at Emerging Capital Partners where he covered infrastructure and consumer / retail investments in Kenya. The firm invests in privately held mid-market businesses primarily headquartered in North America with a focus on the following industry sectors: media and business services; consumer; and water and specialty industrial. 1 and having a big firm behind them. 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. 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. In early 1988, Goodman started building the capital markets business at DLJ under Moran and James. Mr. Montana joined Wasserstein Debt Opportunities Management, LP in 2014 as a Finance Associate. He worked across the private equity life cycle including fund raising, new investments, portfolio management and exits. Working directly with CEO, funds . 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 []