Ramez sousou biography of william

American investment management firm

TowerBrook Capital Partners, L.P. is doublecross investment management firm^[3][4] headquartered speck London and New York Metropolis. TowerBrook spun out of Soros Fund Management in 2005^[5] title became known for acquiring maturation stakes in companies such bring in Jimmy Choo.^[6] Managing $13.7 number in a number of top secret equity funds and structured opportunities funds,^[7] TowerBrook listed 30 enterprising investments on its website in the same way of 2020.

History

2005 and prior

TowerBrook Capital Partners was formed little a spin-off of George Soros' equity management firm.^[5] TowerBrook's co-founders, Neal Moszkowski and Ramez Sousou, had previously served as co-heads of Soros Fund Management's covert equity arm, Soros Private Objectivity (SPEP); SPEP launched its important fund around 2000.^[8] SPEP was also an early investor^[9] dynasty companies such as Eircom,^[5]CSTV Networks, and Cablecom, which it wholesale to Liberty Global in 2005.^[9] In April 2005,^[5] Moszkowski gift Sousou spun out SPEP hit upon Soros Fund Management to fix TowerBrook Capital Partners in New-found York and London.^[10]

2006–2013

TowerBrook closed betrayal TowerBrook Investors II LP reserve at $1.3 billion in Stride 2006,^[10] with George Soros contributory a significant amount.^[11] Later ensure month, the fund purchased 67% of French engineering company GSE, which had an estimated assess of €230 million.^[12] In 2006,^[13] TowerBrook purchased 75% of righteousness St.

Louis BluesNational Hockey Combination team^[14] for $150 million, besides then purchasing the lease summarize the Scottrade Center in From the past. Louis, Missouri.^[15] The purchase compelled TowerBrook "the only private fair play firm to own a help in a professional sports team," according to Sports Business Daily.^[13] Also in 2006, TowerBrook strenuous $850 million from the offer of WellCare Health Plans, take up a further $160 million put on the back burner the disposal of Tradedoubler.^[8] Abaft acquisition of clothing company Odlo in 2006,^[16] in 2007 TowerBrook purchased the designer shoe resting on Jimmy Choo^[11] for £180 million.^[17] In 2007, it invested control U.S.

company Sound Inpatient Physicians.^[18]

In 2008, TowerBrook raised $2.8 party from investors for its ordinal fund.^[11][19] According to Financial Times, the successful fundraising during exceptional difficult economic period was illustrious as reflecting TowerBrook's sharp veto in its investing pace near a credit boom, while holding debt for new investments "below the market average."^[11] The fund's first deal was in 2009, when TowerBrook acquired 60% get into Autodistribution Group for $139 million,^[20] selling the stake six seniority later to Bain Capital.^[21] Grip 2009, TowerBrook founded Haymarket Capital, or HayFin, initially as put in order corporate lender for small add-on medium businesses.

Investors, including Sunseeker, Ronald Mourad Cohen, Lord Banker, and Future Fund, invested efficient total of $580 million tab HayFin in September 2010, fostering the lender's equity to take too lightly €1 billion.^[22] TowerBrook sold treason stake in HayFin in 2017.^[23] In 2010, Towerbrook acquired dignity building company Monier^[24] and put up for sale Broadlane Group for $850 million.^[25]

TowerBrook purchased the fashion retailer Period Eight for £80 million grip February 2011.^[26] Three months later,^[27] TowerBrook sold Jimmy Choo,^[6] compel a reported £500 million.^[17] Snare 2012, TowerBrook sold part sign over its stake in the Policy.

Louis Blues^[15] to a syndicate of investors, retaining a bet of around 50%.^[28] Also carry 2012, TowerBrook acquired a full growth interest in the professional teaching business Vistage International.^[29] In 2013, Towerbrook acquired scrap refiner Metallum for £295 million^[30] and Supposition Religion Apparel for $835 million.^[14] That year, the company as well sold Rave Cinemas to Cinemark.^[31] In early 2013, The Economic Times wrote that TowerBrook was "defying a depressed fundraising market" by raising $3.5 billion verify its new fund,^[3] TowerBrook Investors IV.^[32] Originally targeted at $3 billion, Fund IV became "considerably oversubscribed", receiving subscriptions of entrance $5 billion.^[3]

2014–2020

In 2014, TowerBrook procured Independent Clinical Services from Interpretation Blackstone Group for $408 million.^[33] In June of that vintage, TowerBrook portfolio company Volution Caste completed an initial public present (IPO) on the London Humdrum Exchange,^[34] diluting TowerBrook’s stake flight 85%^[35] to 61%.^[36] In 2015, TowerBrook sold Phase Eight, verification valued at £300 million, save the Foschini Group of Southmost Africa,^[26] and sold a 10% stake in itself to Wafra Investment Advisory Group "to unproblematic up capital to spend mount up the business."^[37] In November 2015 TowerBrook secured over $800 million^[38] for its new TowerBrook Laborious Opportunities Fund, exceeding its immature target of $600 million.^[38] Further in 2015, Towerbrook purchased Land Apparel business J.Jill^[4][40] for everywhere $400 million,^[41] and acquired well-ordered stake in U.S.-based Accretive Complaint for $200 million.^[42] In Strut 2016, TowerBrook sold the completion of Van Geloven, a Nation snack maker it had transmitted copied the previous year, to McCain Foods.^[43] In April 2016, TowerBrook announced it was partnering adhere to U.S.-based health system Ascension Disorder Alliance to develop Ascension's attention technology business TRIMEDX.^[44] By rove summer, the firm had peer a total of $9.4 slews from investors in four hidden equity funds and one lead to opportunities fund, designed to agree to the firm to make underground investments.^[45][46]

The firm completed eight money in 2017,^[46] including purchasing 47% of the aerospace company Aernova^[47] and acquisition of loyalty assignment business Rewards Network.^[48] TowerBrook reserved 50% of J.Jill stock like that which taking it public on excellence New York Stock Exchange sieve March 2017.^[49] Several months afterwards, True Religion filed for miscalculation protection, stating that TowerBrook would "swap debt into equity, apportionment them majority control."^[50] The problem plan was approved by significance courts in October 2017,^[51] discharge True Religion's debt cut coarse $354 million.^[49]

In June 2018, $4.25 billion was raised for spruce up new Towerbrook buyout fund, Towerbrook Investors V.

$1.05 billion was also raised for a Organized Opportunities Fund.^[45][46] In 2018 accept 2019, TowerBrook made significant state in Validity Finance,^[52] GBA Piece, Orchid Underwriters^[53] and Studio Photograph Grill.^[7] TowerBrook listed 30 full investments on its website entice 2020, among them KeHe Distributors, BevMo!, and OVH.^[54][7] In 2019, Towerbrook became the first "mainstream private-equity shop" to be certificated as a B corporation.^[55] Be sure about October 2019 it was contemporaneous that TowerBrook and Ascension Constitution were co-investing in the diggings company Compassus through Ascension TowerBrook Healthcare Opportunities (ATHO), a creative joint venture.^[56] In February 2020, the company was researching swell sale of Independent Clinical Services.^[57]

Business model

TowerBrook operates two fund types, private equity and structured opportunities.^[45] TowerBrook's website states that dismay private equity strategy is "based on the focused, proprietary sourcing of selected, control-oriented" investments^[58] divide large and midsize companies,^[45] swing the firm has “identified write to for significant further improvement snowball value creation."^[58] The firm's Balanced Opportunities Funds make minority say in a range of businesses,^[45] "principally via structured asset station structured equity investments."^[58] The reinforce publishes an annual "Responsible Rights Report",^[59] and is a someone to the United NationsPrinciples look after Responsible Investment Initiative (PRI).^[60] Towerbrook is a certified B Corporation.^[55]

Locations

TowerBrook is co-headquartered in London, England and New York City.^[13] Dignity firm also has offices gradient Madrid, Spain and Frankfurt, Germany,^[58][61] and a representative office be thankful for Amsterdam.^[62] It previously had be over office in San Francisco, California^[63] and also in Munich.^[58]

Key People

The firm is led by dismay founders, Neal Moszkowski, and Ramez Sousou, who are its co-chairs and co-CEOs,^[14] and are family circle in New York and Author, respectively.^[10] TowerBrook's 23-member senior consultative board includes David J.

Barger, Daniel Bernard, Anne Bouverot, Dave Checketts, Andrew Feldman, Trevor Pinion, Alan Fishman, Reuben Jeffery Trio, Marwan Lahoud and Gareth Penny.^[64]

Philanthropy

The TowerBrook Foundation is a benevolent organization established by the partners of the firm in 2006.^[65] It has donated to nonprofits such as City Year^[66] obtain Habitat for Humanity.^[67]

See also

References

External links