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He also serves on Semper Capitals Risk Management and Compliance committees. 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). Ting-Li Wang/The New York Times. The high activity for fund was in 2002. Terms aren't expected to be disclosed, but a person briefed on the matter said the price was about $417 million. Smith had joined Salomon from Drexel, leaving with a group during the bankruptcy. Work with portfolio companies to address ever-changing cyber-security considerations. I fell for it hook, line and sinker, says Goodman. Goodman liberally quotes from his uncle, Skip Bertman, a former head coach at Louisiana State University who has the best baseball record in the National Collegiate Athletic Association and who took an influential role in Goodmans life after his father passed away when he was five years old. Jan 2003 - Mar 20052 years 3 months. With Drexel and Milken gone amid a recession, many market watchers thought high-yield financing would die. 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. and co-managed the . The firm financed Sonys deal to buy EMI, giving the Japanese electronics maker access to a music catalog that included more than 200 songs by the Beatles. Current market conditions are setting the stage for a lot of future opportunities for GSO. PETER A. WEINBERG 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. . 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. degree in Finance and Government from the University of Notre Dame in 2002, graduating magna cum laude. Smith, who calls himself Mr. Legacy ABOUT WASSERSTEIN. While working at Sheffield from 2010 2016, Mr. McLellan led many of the largest positions analyzing long/short equity and credit investments. And this is good for the economy. TPG launched its own midmarket lender after the financial crisis and has both competed and partnered with GSO. A +. 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. GSO had partnered with TPG to buy a $2billion portfolio of bridge loans from Citigroup. Mr. Jones is currently Chairman of Wasserstein & Co. Afsane holds an MBA from Harvard Business School and a BSc in Economics, from The Wharton School at the University of Pennsylvania. (The sentence was later reduced to two years.). from the University of California at Berkeley. 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. 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. Performing, price-discounted debt that we expect to recover. The approximately $4billion portfolio was distributed across GSOs own funds as well as Blackstones private equity portfolios. 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.). and co-managed the company for five years until its merger. Amid the froth GSO is now doing its preparatory work for the next crisis. While at Duet, Afsane led the largest private equity transaction into Ethiopia, Dashen Brewery, as well as, sourced and executed on several consumer-facing transactions in Ghana, Uganda and Cote DIvoire. degree in Finance, Investment, and Banking from the University of Wisconsin, graduating with Honors. Mr. Bagaria is the Advisors President and Chief Investment Officer. Currently, Mr. Campbell is the Chairman of all of the Fund II portfolio companies, Michael Baker International, LLC, and The SPECTRUM Group, LLC. He has over 25 years of experience in investment banking and private equity and has been responsible for building and overseeing both industry and product groups at major investment banking firms. At present, he is a Senior Advisor at Providence Equity Partners, Inc., a leading private equity investment firm specialising in media, communications and information companies and is the Chairman of Governor Andrew Cuomos New NY Education Reform Commission. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Business Video. A verification email is on its way to you. GSO has provided much-needed credit to scores of troubled companies like Hovnanian that couldnt tap public markets or get bank loans. degree in Individualized Study at New York University with studies at the London School of Economics, graduating cum laude. 1185 Avenue of the Americas, 39thFloor Mr. McLellan earned a B.S. Journal Report. This Policy reflects our current approach to considering and addressing Environmental, Social and Governance (ESG) factors and which has been further developed and refined since we became a PRI signatory in 2019. Even before James left CSFB, he and Goodman talked about going off on their own. On the strength of that bridge loan business, we built ourselves up into the leading firm, says James. 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. 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. Marina joined Alta Semper in January 2019. Prior to founding DC Capital in 2007, Mr. Campbell was a Partner of Veritas Capital Management, LLC from 1992 through 2006 having been a Co-Founder of The Veritas Capital Fund, L.P. and one of the two Managing Members of the successor fund, The Veritas Capital Fund II, L.P. Victoria serves on the board of Vostok New Ventures, an investment company with presence in Sweden. What was a wide-open white space for us? 2023 Forbes Media LLC. EagleTree has always strived to maintain a strong culture of good governance to ensure that it operates in a socially responsible manner. Blackstones real estate group saw similar evidence, and BAAM expected mortgage improvement based on results from its underlying hedge funds. He worked across the private equity life cycle including fund raising, new investments, portfolio management and exits. Overview of Wasserstein US Equity Partners IV Wasserstein US Equity Partners IV is a closed private equity fund managed by EagleTree Capital . Prior to founding Alta Semper, Afsane spent nearly five years with the Duet Group as the Managing Director of the firms African Private Equity platform, investing nearly US$200m across Sub-Saharan Africa. 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. GSOs returns have been top quartile. In February 1990, Drexel filed for bankruptcy; two months later Milken pled guilty to lesser charges, agreeing to pay a $600million fine and serve ten years in jail. The up-gunned, tracked MT-LBs are further evidence of the Kremlins worsening equipment crisis as it struggles to make good its losses in Ukraine. After two games, Kevin Durant looks to be extremely comfortable in the Phoenix Suns' offense. Mr. McLellan was hired by Mr. Bagaria and initially worked within AIC from 2004 2006 before moving into the Strategic Value Fund. 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. 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. To support African health management excellence, he co-founded the African Institute for Health Care Management. [7] The investment banking business of Dresdner Bank changed its name to Dresdner Kleinwort Wasserstein as a result of the deal. Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. Prior to that, among other positions, Victoria 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. The fund's final close was first reported . He holds a BA in Finance from the American University of Cairo and an Executive Education in Corporate finance from London Business School. Remnants of the financial crisis continue to cast a shadow on markets, especially in Europe. Most PE firms are open to accredited investors or those who are deemed high-net . 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. Bruce Wasserstein was an American investment banker, businessman, and writer who began his career as an attorney with Cravath, Swaine & Moore. 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. Venture Capital. 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. Private equity investors are by nature optimistic and swaggering, thinking every deal is a potential blockbuster. 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. The stock rose 170 percent between July 2012 and the end of the year. The former undrafted free agent's contract includes $1.4 million in remaining guaranteed salary. Afsane Jetha began her career at Merrill Lynch and Wasserstein Private Equity before moving on to the consumer team at Permira in London. EagleTree Capital, All Rights Reserved | TermsofUse and Other Important Disclosure, 1185 Avenue of the Americas, 39thFloorNew York, NY 10036. Russias War On Ukraine: Daily News And Information From Ukraine, Bayern Munich Remain First But Must Switch Off Complacency Ahead Of PSG Fixture, More Ex-British Challenger 2 Tanks Are Bound For Ukraine As London Doubles Its Pledge, This African Country Of Millions Is Without PowerHeres What We Know, REI Workers In Cleveland Vote To Join The Retail, Wholesale And Department Store Union, What It Took To Bring Daisy Jones And The Six To TV, Texas GOP Censures Rep. Gonzales For Supporting Same-Sex Marriage And Gun Safety, New England Patriots Reportedly Set To Release Brian Hoyer, Leaving Two In The Quarterback Room, Salesforce Gapped Higher On Better-Than-Expected Earnings. Annual high-yield issuance is more than double what it was in 2006 and 2007, 61 percent of bonds are trading at or above their call prices, and new issuance of covenant-lite leveraged loans in 2012 surpassed the levels seen during the credit craze in the middle of the past decade. It was a good time for Goodman, Smith and Ostrover to start their own firm. Mr. Campbell is the Founder, Managing Partner and Chief Investment Officer. [2] They included Robert S. Wiesenthal who became chairman of Sony; Jeffrey A. Rosen, vice chairman at Lazard; Raymond J. McGuire of Citigroup; Douglas L. Braunstein of JPMorgan Chase; Ronald Kramer, former President of Wynn Resorts and current CEO of Griffon Corporation; Michael B. Kraines of Sandler O'Neill; John H. Simpson, formerly Canyon Partners, now Broadhaven LLC; Robert Pruzan, founder of Centerview Partners; Deborah C. Wright of Carver Federal Savings Bank; Gail Zauder of Credit Suisse; current ABC News contributor, former mayor of Chicago and former chief of staff for President Obama Rahm Emanuel; Howard Kerzner, hotel tycoon and son of Sol Kerzner; Jon B. Kutler, founder of Quarterdeck Investment Partners, Inc., now with Admiralty Partners, Inc.; Michael J. Biondi, investment banking chair at Lazard, nicknamed Mr. Judgement;[3] Gary Parr at Lazard; Hugh "Skip" McGee III, former head of Lehman's investment banking, now at Barclays; Mark G. Shafir, former global co-head of M&A at Lehman Brothers, now with Citigroup; Walid Chammah, former CEO of Barclays International; Veritas Capital's Robert B. McKeon; and others. But thats starting to change as European banks need to deleverage and raise capital and companies desperately require funding. A link has been emailed to you - check your inbox. At that time, Drexel had a lock on the business. He is a co-founder of Pangea University for the Health Sciences, a newly formed international platform for medical, nursing and health technology education for the emerging and frontier markets. He also engineered a $479 million purchase of home security company SecurityLink by Chicago private-equity . Prior to Duet, she was at GI Partners where she executed several transactions in the healthcare, consumer and real-estate sectors. She has strong personal and professional ties to East Africa being a fourth generation Tanzanian. 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. Between 2005 and 2012, GSOs assets grew at a compounded annual rate of 29 percent. Zacharys advisory experience was developed within the investment banking divisions of UBS and Goldman Sachs in New York and Johannesburg. In 1993, Goodman hired Smith from Salomon Smith Barney, where he worked on restructurings. With over 15 years of experience, the principals of Orkila seek to leverage their deep industry knowledge and . In one of the largest B2B media transactions this year, Northstar Travel Group, which provides a broad array of products in the retail and corporate events markets, was sold from one private-equity firmthe Wicks Groupto another, Wasserstein Partners, Northstar CEO Thomas Kemp said today. 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. He began his career at The First Boston Corporation. She is a graduate of the University of Pennsylvania's Wharton School where she earned her BS in Economics. So-called PE funds may also buy out . We stand on this very busy street corner and see all this activity, says customized credit strategies partner Daniel Smith. This Policy is intended to provide a broad framework for EagleTrees overall approach to ESG. Though hurt by the financial crisis, Blackstone and GSO have emerged as dominant players in its aftermath. Contribute to the database and get 1 month free* Full online access! Duties include reviewing potential transactions, analyzing investor and partner needs, analyzing and making financial decisions, and preparing reports. J.P. Morgan and other Wall Street research firms changed their rating from a sell to a hold GSO had been hoping for a buy and Credit Suisse refinanced Hovnanians high-cost debt that was coming due in 2016 and that the naysayers were sure would sink the company. In July 2007, he sold American Lawyer Media to Incisive Media for about $630 million in cash. Mr. Montana earned a duel B.S. The following March, Milken was indicted for racketeering and securities fraud. Alice Katwan on Linkedin. GSOs investors, by contrast, had a paltry $22million invested with Goodman, Ostrover and Smith.