Perella Weinberg Partners
Encyclopedia
Perella Weinberg Partners L.P. is an independent, privately owned, global financial services firm providing corporate advisory
and asset management services to clients around the world. Launched in 2006 by Joseph R. Perella
, Peter Weinberg
, Terry Meguid and several other partners from prominent financial institutions, the firm is a private partnership with approximately 375 employees. It is headquartered in New York
with offices in London
, Abu Dhabi
, Beijing
, Austin
, Denver, and San Francisco.
To help establish the firm’s operations and to seed investment initiatives, Perella Weinberg Partners raised over US $1.2 billion from a group of investors, including leading financial institutions and family investor groups from the Americas, Europe, Japan, and the Middle East.
During its first year of operation, Perella Weinberg Partners established an Advisory Council. The Advisory Council is chaired by William H. Donaldson
former Chairman of the Securities and Exchange Commission. Its other members include Philippe Citerne, former Deputy Chief Executive Officer of Société Générale
; Ibrahim Dabdoub, CEO of the National Bank of Kuwait
; William Hambrecht, co-founder of the firm Hambrecht & Quist
; Walter Isaacson
, President and CEO of the Aspen Institute
; and Daniel Yergin
, Chairman of IHS Cambridge Energy Research Associates.
Together, Perella Weinberg’s Partners, its founding investors and its Advisory Council, constitute an extensive network of global relationships, which the firm utilizes to the benefit of its clients.
strategies, private capital and a multi-manager business. Investments made through this business include most major asset classes on a global basis, including equities, fixed income
, asset based investments, distressed securities
, private investments and real estate. The Firm counts pension funds, endowments, foundations, sovereign wealth funds, family offices, high net worth individuals and fund of funds as its clients, and, including affiliates, has capital commitments and managed assets of approximately U.S.$7.5 billion as of August 1, 2011.
Corporate advisory
Corporate advisory refers to the activity of advising organisations, including corporations, institutions and government bodies, on mergers and acquisitions and other transactions that involve a change in ownership of a company or business...
and asset management services to clients around the world. Launched in 2006 by Joseph R. Perella
Joseph R. Perella
-Early life:Born in Brooklyn, New York to an accountant, Perella graduated from Lehigh University in 1964 on a full scholarship with a degree in accounting...
, Peter Weinberg
Peter Weinberg
Peter A. Weinberg is an Anglo-American businessman.Weinberg was educated at Claremont McKenna College, California, and received his MBA from Harvard in 1983.In January 2006, Weinberg announced his intention to join takeover specialist Joseph R...
, Terry Meguid and several other partners from prominent financial institutions, the firm is a private partnership with approximately 375 employees. It is headquartered in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
with offices in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Abu Dhabi
Abu Dhabi
Abu Dhabi , literally Father of Gazelle, is the capital and the second largest city of the United Arab Emirates in terms of population and the largest of the seven member emirates of the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western...
, Beijing
Beijing
Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
, Austin
Austin
Austin is the capital of the U.S. state of Texas.Austin may also refer to:-In the United States:*Austin, Arkansas*Austin, Colorado*Austin, Chicago, Illinois*Austin, Indiana*Austin, Minnesota*Austin, Nevada*Austin, Oregon...
, Denver, and San Francisco.
History
Perella Weinberg Partners was launched in June 2006. The firm was founded on the premise that clients would value a financial services firm reminiscent of old Wall Street when firms were private; they provided client-centric, independent advice; and forward thinking investment strategies to their clients and investors, and the success of their business was based on credibility and trust.To help establish the firm’s operations and to seed investment initiatives, Perella Weinberg Partners raised over US $1.2 billion from a group of investors, including leading financial institutions and family investor groups from the Americas, Europe, Japan, and the Middle East.
During its first year of operation, Perella Weinberg Partners established an Advisory Council. The Advisory Council is chaired by William H. Donaldson
William H. Donaldson
William Henry Donaldson was the 27th Chairman of the U.S. Securities and Exchange Commission , serving from February 2003 to June 2005...
former Chairman of the Securities and Exchange Commission. Its other members include Philippe Citerne, former Deputy Chief Executive Officer of Société Générale
Société Générale
Société Générale S.A. is a large European Bank and a major Financial Services company that has a substantial global presence. Its registered office is on Boulevard Haussmann in the 9th arrondissement of Paris, while its head office is in the Tours Société Générale in the business district of La...
; Ibrahim Dabdoub, CEO of the National Bank of Kuwait
National Bank of Kuwait
-The National Bank of Kuwait:The National Bank of Kuwait was incorporated in 1952 as the first local bank and the first shareholding company in Kuwait and the Gulf region. Over the years, NBK has maintained its position as the leading bank in Kuwait and built a well-established banking franchise...
; William Hambrecht, co-founder of the firm Hambrecht & Quist
Hambrecht & Quist
Hambrecht & Quist was an investment bank based in San Francisco, California noted for its focus on the technology and internet sectors. H&Q was founded by William Hambrecht and George Quist in California, 1968....
; Walter Isaacson
Walter Isaacson
Walter Isaacson is a writer and biographer. He is the President and CEO of the Aspen Institute, a nonpartisan educational and policy studies organization based in Washington, D.C. He has been the Chairman and CEO of CNN and the Managing Editor of TIME...
, President and CEO of the Aspen Institute
Aspen Institute
The Aspen Institute is an international nonprofit organization founded in 1950 as the Aspen Institute of Humanistic Studies. The organization is dedicated to "fostering enlightened leadership, the appreciation of timeless ideas and values, and open-minded dialogue on contemporary issues." The...
; and Daniel Yergin
Daniel Yergin
Daniel Howard Yergin is an American author, speaker, and economic researcher. Yergin is the co-founder and chairman of Cambridge Energy Research Associates, an energy research consultancy. It was acquired by IHS Inc...
, Chairman of IHS Cambridge Energy Research Associates.
Together, Perella Weinberg’s Partners, its founding investors and its Advisory Council, constitute an extensive network of global relationships, which the firm utilizes to the benefit of its clients.
Business Units
Perella Weinberg Partners has two business units: Corporate Advisory, providing services to decision makers in business and government, and Asset Management, which consists of multiple alternative investment vehicles catering to institutional investors.Corporate Advisory
Corporate Advisory is divided into practices -- Mergers & Acquisitions, Financial Restructuring, Private Capital Raising, Pension Advisory services, and Government Advisory services. The Corporate Advisory Business provides high quality, independent advice and transaction execution capabilities, including mergers and acquisitions, exclusive sales, defense advisory, financial restructuring, and special committee advisory. The Corporate Advisory group focuses on advising public and private companies, global institutions and investors in a wide-range of complex situations.Asset Management
The global asset management business comprises a suite of hedge fundHedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
strategies, private capital and a multi-manager business. Investments made through this business include most major asset classes on a global basis, including equities, fixed income
Fixed income
Fixed income refers to any type of investment that is not equity, which obligates the borrower/issuer to make payments on a fixed schedule, even if the number of the payments may be variable....
, asset based investments, distressed securities
Distressed securities
Distressed securities are securities of companies or government entities that are either already in default, under bankruptcy protection, or in distress and heading toward such a condition. The most common distressed securities are bonds and bank debt...
, private investments and real estate. The Firm counts pension funds, endowments, foundations, sovereign wealth funds, family offices, high net worth individuals and fund of funds as its clients, and, including affiliates, has capital commitments and managed assets of approximately U.S.$7.5 billion as of August 1, 2011.
Partners
Some of the firm’s partners include:- Joseph R. PerellaJoseph R. Perella-Early life:Born in Brooklyn, New York to an accountant, Perella graduated from Lehigh University in 1964 on a full scholarship with a degree in accounting...
(Former Vice-Chairman at Morgan StanleyMorgan StanleyMorgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
and Founding partner of Wasserstein Perella & Co.Wasserstein Perella & Co.Wasserstein Perella & Co. was an investment bank established by Bruce Wasserstein, Joseph R. Perella, Bill Lambert, and one other founder in 1988, former bankers at First Boston Corp., until its eventual sale to Dresdner Bank in 2000 for some $1.4 billion in stock...
) - Peter WeinbergPeter WeinbergPeter A. Weinberg is an Anglo-American businessman.Weinberg was educated at Claremont McKenna College, California, and received his MBA from Harvard in 1983.In January 2006, Weinberg announced his intention to join takeover specialist Joseph R...
(Former CEO of Goldman Sachs International) - Tarek Abdel-Meguid (Former Global Head of Investment Banking at Morgan StanleyMorgan StanleyMorgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
) - Andrew Bednar (Former Head of U.S. Mergers & Acquisitions at Banc of America SecuritiesBanc of America SecuritiesBanc of America Securities LLC , based in New York City, was an investment banking subsidiary of Bank of America. The firm competed in both the domestic and international equity and investment banking markets, and pursued a strategy pioneered by Citigroup that combines corporate lending with...
) - Philip Yates (Former Co-Head of Mergers & Acquisitions at Merrill LynchMerrill LynchMerrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
) - Paulo Pereira (Former Head of European Mergers & Acquisitions at Morgan StanleyMorgan StanleyMorgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
) - William Kourakos (Former Global Head of Leveraged Finance at Morgan StanleyMorgan StanleyMorgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
) - Michael Kramer (Founder of Kramer Capital Partners and former Partner at Greenhill & Co.Greenhill & Co.Greenhill & Co., Inc. is a leading independent investment bank focused on providing financial advice on significant mergers, acquisitions, restructurings, financings and capital raisings to corporations, partnerships, institutions and governments. The firm made $298.6m in sales in 2009, with a...
and Houlihan Lokey Howard & Zukin) - Derron Slonecker (Founder of Kramer Capital Partners and Managing Director at Houlihan Lokey Howard & Zukin)
- Leon Bressler (Former CEO of Unibail)
- Dietrich Becker (Former Co-Head of Morgan StanleyMorgan StanleyMorgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
's Global Industrial Group) - Daniel Arbess (Founder of Xerion Capital Partners)
External links
- Official Web Site
- Official Launch Press Release
- Boutique Bank Lands Ex-Goldman Star
- Bringing Banking Back to the Future
- Bloomberg: Perella Weinberg Raises More Than $1 Bln for Boutique
- Transcript: Financial Times Reporter Chrystia Freeland Interviews Joseph Perella
- “How London Can Close the Gap on Wall Street,” Financial Times, Peter Weinberg, March 29, 2006.
- “Boardroom culture must embrace directors,” Financial Times, Peter Weinberg, November 16, 2006.
- “A Book Full of Blank Checks,” Institutional Investor, Dan Freed, January 17, 2008.
- “Perella Says Boutiques Can Thrive Amid LBO Bust,” Joseph Giannone, April 3, 2008.
- “Perella: Boutiques Look Set to Outperform,” Reuters, Elinor Comlay, November 11, 2008.
- “Perella Sees Boom in Restructuring Work,” Reuters, Joseph Giannone, November 11, 2008.
- “Sovereign Funds Offer a Wealth of Benefits,” Financial Times, Peter Weinberg, May 22, 2008.
- “Swimming Upstream: The Big Fish among the Boutique Investment Banks,” Financial Times, Meghan Murphy and Helen Thomas, September 27, 2010.
- “Perella Weinberg Heads for Abu Dhabi,” Financial Times, Helen Thomas, September 22, 2010.