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Goodman and Ostrover joke that Smith was responsible for DLJs success. 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. Smith, who had been co-head of high-yield group among other positions at Van Kampen Investments, now runs GSOs customized credit strategies, including CLOs, closed-end funds and Franklin Square Capital Partners, its small-cap direct lending group. 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. After the market bottomed in 2009, GSO launched its first rescue lending fund, which closed at $3.3billion. 99 Canal Center Plaza | Suite 400 With Drexel and Milken gone amid a recession, many market watchers thought high-yield financing would die. A -. Mr. McLellan earned a B.S. Jan 2003 - Mar 20052 years 3 months. 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. She has strong personal and professional ties to East Africa being a fourth generation Tanzanian. We pride ourselves on talent, integrity and intellect. Garrett Moran, who ran the high-yield bond group at DLJ, says Goodman stalked him for six months, wanting to pitch his idea for a capital markets desk. At that time, Drexel had a lock on the business. Mr. OKeefe earned a B.S. 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 Wasserstein Perella by EagleTree recognizes that its approach to different ESG factors may vary among portfolio companies of different sizes, that fall within different industry sectors and that operate in different geographies. Chief Financial Officer - Appointed CFO of Gabelli Group in 2001, re-joined as CFO in 2014 (after serving company as independent director / advisor from 2008). She has worked for GI Partners, Merrill Lynch, Wasserstein Private Equity, and Permira in London. While Goodman loves to talk, Ostrover has to be pressed for details. 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. Former Senior Vice President of North America Sales at Genesys. He subsequently established the investment bank boutique Wasserstein Perella & Co., which he later sold . Work with portfolio companies to address ever-changing cyber-security considerations. Performing, price-discounted debt that we expect to recover. Remnants of the financial crisis continue to cast a shadow on markets, especially in Europe. Portfolio, This content is from: Goodman is the storyteller of the group, Ostrover is Mr. Markets, and Smith wants to stay out of the limelight and just do deals. The latest messages and market ideas from Afsane Jetha (@afsanejetha) on Stocktwits. She holds her MBA from Harvard Business School and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. 39th Floor Wasserstein & Co. - Private Equity Company Info Description:Wasserstein & Co. is a private equity company based in New York, NY and has approximately $300 million in assets under management. The congressman supported new gun legislation after a school shooting in Uvalde, located in his district. 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: Wasserstein & Co. is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. The strategy of Alta Semper is to invest flexible and strategic capital into market-leading business models in the . 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. Wasserstein & Co. is an independent private equity and investment firm, with offices in New York and Los Angeles. 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. contact@wasserco.com. 2005-2023 Wall Street Oasis. Mr. Dutton has been working in the Hedge Fund Industry since 1997 and joined Wasserstein Debt Opportunities Management, LP in June 2013. We conduct our buyout investment activities through the Wasserstein Partners family of funds. Blackstone allowed us to take our business from being three years old to ten overnight, Ostrover says. degree in Business Administration from Western New England University with a concentration in finance. Mr. Campbell is active in both geopolitical and philanthropic endeavors. When DLJ tried issuing its own highly confident letters, they meant nothing, as DLJ had a small balance sheet. 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. Victoria has extensive experience in originating, structuring and monitoring venture capital transactions. Mr. Bagaria is the Advisors President and Chief Investment Officer. Mr. Kelsey joined Wasserstein Debt Opportunities Management, LP in 2013 as an Associate. He later became CEO of Lazard Ltd, while at the same time sitting atop private equity firm Wasserstein & Co, which continues to operate. GSOs investors, by contrast, had a paltry $22million invested with Goodman, Ostrover and Smith. 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. We take a unique approach to asset management. Tudor, Pickering, Holt & Co. Securities - Canada, ULC is a Member of the Canadian Investor Protection Fund and the New Self-Regulatory Organization of Canada. After James joined Blackstone, Goodman took over CSFBs alternative capital division. degree in Business Administration from Western New England University with a concentration in finance. 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. In September 1988 the Securities and Exchange Commission sued Drexel for insider trading and stock manipulation. Orkila Capital was formed in 2013 to pursue proprietary and compelling growth equity investment opportunities in the media, entertainment and consumer sectors. EagleTree seeks to improve diversity and inclusion within the Firm, across its portfolio company investments and in the private equity industry, where possible. 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. This Policy does, however, retain the same fundamental principles and our commitment to integrate ESG considerations into our investment management business and portfolio company ownership practices. Wasserstein & Co. www.wasserco.com 1999 Avenue of the Stars Suite 2840 Los Angeles, CA 90067-6086 Anup Bagaria Vice Chairman and Managing Director Private Equity Firms in Southern California Company Website Address Primary Contact Angeleno Group www.angelenogroup.com 2029 Century Park East Suite 2980 Los Angeles, CA 90067 . GSO and Blackstone announced the deal in January 2008. In addition, we remain committed to compliance with national, state and local labor laws in jurisdictions in which we invest and to provide a safe and healthy workplace consistent with national and local laws. The stock rose 170 percent between July 2012 and the end of the year. Mr. OKeefe joined Wasserstein Debt Opportunities Management, LP in 2014 as an Associate. Hovnanian, for his part, was not convinced that the market would react as positively as Ostrover suggested. In 1992, Goodman hired Ostrover from Grantchester Securities, the high-yield arm of boutique investment bank Wasserstein Perella & Co., to run DLJs sales and trading. 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. The year he joined, the firm became the No. Rescue lending has returned an annualized 15.2 percent since inception in September 2009. Convene 117 West 46th Street, New York, May 23-24, 2023 He spent five years there, toiling on ten to 12 deals a year all of them different in a culture that rewarded Street smarts and a maniacal work ethic. Mr. Kelsey earned a B.S. He holds an AB from Princeton University. By that July the three partners had launched GSO with 25 employees and one hedge fund. Prior to founding Colle Capital, Ms. 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. GSO had partnered with TPG to buy a $2billion portfolio of bridge loans from Citigroup. EagleTree continues to encourage all of its employees to actively engage in nonprofit volunteer activities and giving in our communities. After six months of negotiations, Goodman and his partners said yes. He recently served on the Boards of Directors of Harry & David, Encompass Digital Media, and Access Scientific. Depending on the product, GSO has a host of competitors, including Apollo Group Management; Ares Capital Corp. (an Apollo spin-out); Avenue Capital Group; Carlyle Group; Goldman, Sachs & Co.; J.P. Morgan Asset Managements Highbridge Capital Management; KKR & Co.; Oaktree Capital Management; and TPG Capital. Ting-Li Wang/The New York Times. 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 the meantime, it has cut back the pace of investments and is going after only the most compelling ones, in industry sectors including shipping, metals and mining, and natural gas. Dresdner won't acquire Wasserstein's private equity business, which will be spun off to the U.S. firm's existing shareholders. In August the group put up $1billion in equity to buy a portfolio of busted bridge loans from Deutsche Bank, with the German bank providing 3-to-1 leverage. The GSO team has been through the ups and downs of numerous credit cycles, and theyre always worried and trying to protect the downside, says Timothy Walsh, chief investment officer of the $74billion New Jersey Pension Fund, which has committed to $1.1billion in investments in five GSO funds. Chief Financial Officer and Chief Compliance Officer. EagleTree believes its collaborativeapproach toinvesting createsvalue across a defined set of initiatives developed in partnership with portfolio company management. 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. This content is from: The 30-year-old newly minted Drexel vice president told the DLJ executive, Im going to help build this big business at DLJ, and youre going to get rich and famous. Moran, who says he instantly liked Goodman and the wealth of experience he had gotten working on deals inside the Drexel pressure cooker, hired him.