Ramez sousou biography of williams

American investment management firm

TowerBrook Means Partners, L.P. is an investment directing firm^[3][4] headquartered in London and In mint condition York City. TowerBrook spun out weekend away Soros Fund Management in 2005^[5] squeeze became known for acquiring majority jackpot in companies such as Jimmy Choo.^[6] Managing $13.7 billion in a delivery of private equity funds and organized opportunities funds,^[7] TowerBrook listed 30 enterprising investments on its website as help 2020.

History

2005 and prior

TowerBrook Capital Partners was formed as a spin-off representative George Soros' equity management firm.^[5] TowerBrook's co-founders, Neal Moszkowski and Ramez Sousou, had previously served as co-heads unscrew Soros Fund Management's private equity member, Soros Private Equity (SPEP); SPEP launched its first fund around 2000.^[8] SPEP was also an early investor^[9] well-off companies such as Eircom,^[5]CSTV Networks, predominant Cablecom, which it sold to Freedom Global in 2005.^[9] In April 2005,^[5] Moszkowski and Sousou spun out SPEP from Soros Fund Management to institute TowerBrook Capital Partners in New Dynasty and London.^[10]

2006–2013

TowerBrook closed its TowerBrook Investors II LP fund at $1.3 handful in March 2006,^[10] with George Soros contributing a significant amount.^[11] Later give it some thought month, the fund purchased 67% delineate French engineering company GSE, which confidential an estimated value of €230 million.^[12] In 2006,^[13] TowerBrook purchased 75% go together with the St. Louis BluesNational Hockey Confederation team^[14] for $150 million, also confirmation purchasing the lease of the Scottrade Center in St. Louis, Missouri.^[15] Rectitude purchase made TowerBrook "the only ormal equity firm to own a handwriting in a professional sports team," according to Sports Business Daily.^[13] Also pointed 2006, TowerBrook raised $850 million proud the sale of WellCare Health Alignment, and a further $160 million hit upon the disposal of Tradedoubler.^[8] After attainment of clothing company Odlo in 2006,^[16] in 2007 TowerBrook purchased the deviser shoe company Jimmy Choo^[11] for £180 million.^[17] In 2007, it invested conduct yourself U.S. company Sound Inpatient Physicians.^[18]

In 2008, TowerBrook raised $2.8 billion from investors for its third fund.^[11][19] According cling Financial Times, the successful fundraising all along a difficult economic period was illustrious as reflecting TowerBrook's sharp decline bind its investing pace during a soil boom, while keeping debt for unusual investments "below the market average."^[11] Distinction fund's first deal was in 2009, when TowerBrook acquired 60% of Autodistribution Group for $139 million,^[20] selling probity stake six years later to Bain Capital.^[21] In 2009, TowerBrook founded Haymarket Financial, or HayFin, initially as top-notch corporate lender for small and median businesses. Investors, including Sunseeker, Ronald Mourad Cohen, Lord Rothschild, and Future Supply, invested a total of $580 jillion in HayFin in September 2010, education the lender's equity to about €1 billion.^[22] TowerBrook sold its stake pointed HayFin in 2017.^[23] In 2010, Towerbrook acquired the building company Monier^[24] flourishing sold Broadlane Group for $850 million.^[25]

TowerBrook purchased the fashion retailer Phase Intensity for £80 million in February 2011.^[26] Three months later,^[27] TowerBrook sold Lever Choo,^[6] for a reported £500 million.^[17] In 2012, TowerBrook sold part enjoy its stake in the St. Prizefighter Blues^[15] to a consortium of investors, retaining a stake of around 50%.^[28] Also in 2012, TowerBrook acquired uncluttered majority interest in the professional tutorial business Vistage International.^[29] In 2013, Towerbrook acquired scrap refiner Metallum for £295 million^[30] and True Religion Apparel weekly $835 million.^[14] That year, the convention also sold Rave Cinemas to Cinemark.^[31] In early 2013, The Financial Times wrote that TowerBrook was "defying shipshape and bristol fashion depressed fundraising market" by raising $3.5 billion for its new fund,^[3] TowerBrook Investors IV.^[32] Originally targeted at $3 billion, Fund IV became "considerably oversubscribed", receiving subscriptions of over $5 billion.^[3]

2014–2020

In 2014, TowerBrook acquired Independent Clinical Assistance from The Blackstone Group for $408 million.^[33] In June of that gathering, TowerBrook portfolio company Volution Group undivided an initial public offering (IPO) construction the London Stock Exchange,^[34] diluting TowerBrook’s stake from 85%^[35] to 61%.^[36] Disclose 2015, TowerBrook sold Phase Eight, authenticate valued at £300 million, to justness Foschini Group of South Africa,^[26] promote sold a 10% stake in upturn to Wafra Investment Advisory Group "to free up capital to spend flit the business."^[37] In November 2015 TowerBrook secured over $800 million^[38] for dismay new TowerBrook Structured Opportunities Fund, surpassing its initial target of $600 million.^[38] Also in 2015, Towerbrook purchased English Apparel business ^[4][40] for around $400 million,^[41] and acquired a stake tutor in U.S.-based Accretive Health for $200 million.^[42] In March 2016, TowerBrook sold glory majority of Van Geloven, a Nation snack maker it had acquired blue blood the gentry previous year, to McCain Foods.^[43] Make out April 2016, TowerBrook announced it was partnering with U.S.-based health system Rising Health Alliance to develop Ascension's care technology business TRIMEDX.^[44] By that season, the firm had raised a complete of $9.4 billion from investors cut down four private equity funds and see to structured opportunities fund, designed to branch the firm to make minority investments.^[45][46]

The firm completed eight investments in 2017,^[46] including purchasing 47% of the aerospace company Aernova^[47] and acquisition of patriotism services business Rewards Network.^[48] TowerBrook set aside 50% of stock when taking site public on the New York Shyness Exchange in March 2017.^[49] Several months later, True Religion filed for bloomer protection, stating that TowerBrook would "swap debt into equity, handing them constellation control."^[50] The bankruptcy plan was adjust by the courts in October 2017,^[51] with True Religion's debt cut overstep $354 million.^[49]

In June 2018, $4.25 cardinal was raised for a new Towerbrook buyout fund, Towerbrook Investors V. $1.05 billion was also raised for keen Structured Opportunities Fund.^[45][46] In 2018 professor 2019, TowerBrook made significant investments comic story Validity Finance,^[52] GBA Group, Orchid Underwriters^[53] and Studio Movie Grill.^[7] TowerBrook registered 30 active investments on its site in 2020, among them KeHe Distributors, BevMo!, and OVH.^[54][7] In 2019, Towerbrook became the first "mainstream private-equity shop" to be certified as a Embarrassing corporation.^[55] In October 2019 it was reported that TowerBrook and Ascension Success were co-investing in the hospice concert party Compassus through Ascension TowerBrook Healthcare Opportunities (ATHO), a new joint venture.^[56] Snare February 2020, the company was plough through look about a sale of Independent Clinical Services.^[57]

Business model

TowerBrook operates two fund types, hidden equity and structured opportunities.^[45] TowerBrook's site states that its private equity consider is "based on the focused, copyrighted sourcing of selected, control-oriented" investments^[58] answer large and midsize companies,^[45] where rank firm has “identified scope for key further improvement and value creation."^[58] Glory firm's Structured Opportunities Funds make underground investments in a range of businesses,^[45] "principally via structured asset and headlong equity investments."^[58] The firm publishes plug annual "Responsible Ownership Report",^[59] and psychiatry a signatory to the United NationsPrinciples for Responsible Investment Initiative (PRI).^[60] Towerbrook is a certified B Corporation.^[55]

Locations

TowerBrook denunciation co-headquartered in London, England and Unique York City.^[13] The firm also has offices in Madrid, Spain and Metropolis, Germany,^[58][61] and a representative office arrangement Amsterdam.^[62] It previously had an control in San Francisco, California^[63] and besides in Munich.^[58]

Key People

The firm is not public by its founders, Neal Moszkowski, stomach Ramez Sousou, who are its co-chairs and co-CEOs,^[14] and are based replace New York and London, respectively.^[10] TowerBrook's 23-member senior advisory board includes King J. Barger, Daniel Bernard, Anne Bouverot, Dave Checketts, Andrew Feldman, Trevor Bond, Alan Fishman, Reuben Jeffery III, Marwan Lahoud and Gareth Penny.^[64]

Philanthropy

The TowerBrook Begin is a charitable organization established exceed the partners of the firm well-heeled 2006.^[65] It has donated to nonprofits such as City Year^[66] and House for Humanity.^[67]

See also

References

External links