Perella Weinberg Partners

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. Founded in 2006 by Joseph R. Perella, Peter Weinberg, Terry Meguid and several other partners from financial institutions, the firm is a private partnership with approximately 650 employees.[3] It is headquartered in New York City with offices in London, Abu Dhabi,[4] Dubai, Denver, San Francisco, Calgary, and Houston.

Perella Weinberg Partners
Private
IndustryFinancial services
Founded2006 (2006)
FoundersJoseph R. Perella
Peter Weinberg[1]
HeadquartersGeneral Motors Building
New York, New York, United States
Key people
Robert K. Steel (CEO)
Andrew Bednar
ProductsFinancial advisory, asset management
Total assets$13.7 billion[2]
Number of employees
651 (2016)[3]
Websitewww.pwpartners.com

Perella Weinberg's Corporate Advisory business advises its clients on mergers and acquisitions, financial restructuring, private placements and other strategic transactions. The Asset Management business comprises outsourced CIO, institutional asset management and private equity investing.

History

Perella Weinberg Partners was launched on June 15, 2006, with offices in New York and London.[5]

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,[6] 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. Its members include Walter Isaacson, president and CEO of the Aspen Institute; Daniel Yergin, chairman of IHS Cambridge Energy Research Associates; and Ivan Seidenberg, former chief executive officer of Verizon Communications.[7]

In 2016, Perella Weinberg acquired the Houston-based energy investment banking firm Tudor, Pickering, Holt & Co. that at the time had "nearly $2 billion of energy assets".[1] The 2016 acquisition increased Perella Weinberg's assets under management from $10 billion to $12 billion.[1]

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 investment vehicles catering to institutional investors.

Corporate Advisory

Corporate Advisory is divided into practices: Mergers & Acquisitions, Financial Restructuring, Private Capital Raising, Pension Advisory services, Special Committee Advisory services, Government Advisory services and Energy Advisory services. The Corporate Advisory Business provides independent advice and transaction execution, 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.

Asset Management

The global asset management business comprises a suite of alternative investment strategies as well as outsourced CIO services. 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, real estate, and energy investments. 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 $12.6 billion as of January 1, 2017.[2] Perella Weinberg Partners' Agility Fund was named Outsourced CIO of the Year by Institutional Investor in 2015[8] and 2014[9] and by Foundation & Endowment Intelligence in 2013.[10]

gollark: Not near spiral?
gollark: Er, near spiral?
gollark: Accidental spiral:https://dragcave.net/lineage/RxyPc
gollark: NOOOOOOOOOOOOOOOOOOOOOOOOOO!
gollark: Ummm... I'll try silver x messy random junk?

References
  1. de la Merced, Michael (14 November 2016). "Perella Weinberg, Seeking Growth, Acquires a Rival Bank" (DealBook). United States: New York Times. The New York Times Company. Retrieved 27 April 2019.
  2. "Perella Weinberg Asset Management", Retrieved on 4 April 2017.
  3. Stynes, Tess. "Perella Weinberg to Combine With Tudor, Pickering, Holt", Wall Street Journal.
  4. "Perella Weinberg to Open Office in Abu Dhabi" (DealBook). United States: New York Times. The New York Times Company. 23 September 2010. Retrieved 27 April 2019.
  5. "Perella Weinberg Partners Who We Are"
  6. Sorkin, Andrew Ross. “The Pressure of Great Expectations”, The New York Times, 27 April 2007.
  7. "Perella Weinberg Board Members"
  8. "Perella Weinberg Partners' Agility Fund Names "Outsourced CIO of the Year" by Institutional Investor 2015"
  9. "Perella Weinberg Partners' Agility Fund Names "Outsourced CIO of the Year" by Institutional Investor 2015"
  10. "Perella Weinberg Partners' Agility Named "Outsourced CIO of the Year" by Institutional Investor's Foundation & Endowment Intelligence Magazine"
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.