The Leveraged Buyout

Panelists will discuss finding and creating value in today’s LBO environment. How are successful firms sourcing and identifying LBO investment opportunities? What areas of the marketplace are seeing the most activity? How are firms securing financing against the backdrop of a volatile credit market? What creative transaction structures have been used over the last year? Are there emerging trends likely to gain traction in the year ahead?

Moderator


 

Gwyneth Ketterer `91 Adjunct Professor, Columbia Business School

Gwyneth M. Ketterer is an Adjunct Professor of Finance and Economics at Columbia Business School, where she teaches a course she designed in the fundamentals of private equity.  Most recently, Ms. Ketterer was Chief Operating Officer and co-founding Partner of Irving Place Capital (“IPC”), which formerly was Bear Stearns Merchant Banking (“BSMB”).  IPC is a New York based middle market private equity firm managing equity commitments in excess of $5 billion.  Ms. Ketterer joined Bear Stearns as a Senior Managing Director in 1998 to develop its merchant banking business.  Her operating oversight encompassed finance, marketing, deal sourcing, portfolio management, legal and tax, regulatory matters and compliance, investor reporting and relations, IT, recruiting and compensation.  In addition to all of IPC’s operations, her responsibilities included management of its institutional funds, private equity portfolios, strategy, capital raising initiatives and new business development.  Ms. Ketterer served on the firm’s Investment Committee.  She pioneered a portfolio-wide strategic services initiative and spearheaded the creation of Bear Growth Capital Partners and BSMB’s Greater China joint venture.  Ms. Ketterer also was a member of Bear Stearns’ President’s Advisory Council.

Prior to BSMB, Ms. Ketterer served as Senior Vice President of the Merchant Banking Division of Lehman Brothers Inc. and a member of Lehman Brothers’ Investment Screening Committee.  While at Lehman Brothers, she also spent several years in Mergers & Acquisitions, both in New York and London, specializing in cross-border advisory and privatization transactions.

Ms. Ketterer is a member of Trustees’ Council of Penn Women, a board member of Women’s Association of Venture and Equity and a trustee of Oysterponds Historical Society.  Ms. Ketterer holds an MBA from Columbia Business School, a BS Economics from the Wharton School and a BA from the College of Arts and Sciences of the University of Pennsylvania.

Ms. Ketterer recently returned from a family sabbatical in Argentina.  She resides in New York City with her partner and two children.

Panelists


 

Jeffrey Barber `01 - Managing Director, TA Associates

Jeff Barber focuses on investments in consumer products, education, retail and other growth services companies. He is a Director of Cath Kidston, Dymatize, Full Sail, The Los Angeles Film School and Vatterott, and is a Board Observer of RMCAD.  He formerly served on the Boards of Florida Career College, Microban and Tempur-Pedic. Prior to joining TA in 2001, Jeff was an Associate in the Private Equity Group of Weiss, Peck & Greer and Vestar Capital Partners. He was also a Financial Analyst at Morgan Stanley in the Investment Banking Global Power and Utilities Group. Jeff received a BA degree, with all University and Departmental Honors, in Political Science from Johns Hopkins University (1995) and an MBA degree, with Honors, from the Columbia Business School (2001) as a Beta Gamma Sigma Scholar. Jeff is also the Chairman of the Private Equity Advisory Board for the Columbia Business School, member of the Dean’s Advisory Board of the Johns Hopkins University Kreiger School of Arts and Sciences and the National Chair of the Alumni Second Decade Society.

Christopher Behrens - Managing Director, CCMP Capital

Christopher Behrens is a Managing Director in the New York office of CCMP Capital and a member of the firm's Investment Committee. He focuses on making investments in the industrial, distribution and energy sectors.

Prior to joining CCMP in 1994, he was a Vice President in the Merchant Banking Group of The Chase Manhattan Corporation.

Mr. Behrens serves on the board of directors of Chaparral Energy, Newark E&P Holdings and Noble Environmental Power.

Mr. Behrens holds a B.A. from the University of California, Berkeley and an M.A. from Columbia Business School.

Andrew O’Brien `90 - Managing Director and Co-Head of Global Debt Capital Markets, J.P. Morgan

Andy O'Brien is a Managing Director and Co-Head of Global Debt Capital Markets.  Andy has been with J.P. Morgan, including its predecessor organizations, for over 25 years.

Currently, Andy Co-Heads Global Debt Capital Markets, which includes JPM's Loan Syndication, High Yield and High Grade Debt, and Restructuring practices.  Over the last several years, Andy and the JPM team have led hundreds of debt transactions across all ratings categories, including some of the world's most critical financings.

In 1985, Andy joined the Manufacturers Hanover Trust Co.  Upon completion of the Bank’s Credit Training Program, Andy joined the Media Group as a banker covering Media, Telecom and Entertainment companies.  From 1985 to 1991, Andy served in the Media Group in various capacities in New York and ultimately in London as Vice President in charge of the bank’s European Media Group.  In 1991, Andy joined Loan Syndications and was promoted to Managing Director in 1995, Head of Loan Syndications in 2004, and Head of U.S. Loan Sales in 1999.  He was promoted to Co-Head of Syndicated and Leveraged Finance in 2007 and assumed his current role in 2011.

Andy holds an MBA in Finance from Columbia Business School and a BA from The College of the Holy Cross.

He and his wife, Robin, live in Bedford, New York.  They have three grown daughters.

Rick Perkal - Senior Managing Director, Irving Place Capital

Rick Perkal is a Senior Managing Director of Irving Place Capital. His areas of focus include retail, restaurants and consumer products. He currently holds Company Board positions at CBK Holdings, New York & Company, Pet Supplies “Plus” Holdings and Vitamin Shoppe. Prior to joining Irving Place Capital in 2000, Mr. Perkal headed the corporate practice in Washington, D.C. of Kirkland & Ellis, where he served on the finance and operations committees. He currently serves on the Board of Directors of Benjamin N. Cardozo School of Law, where he was an Editor of the Law Review. Mr. Perkal received his B.A. degree from Alfred University and his J.D. from the Benjamin N. Cardozo School of Law.

Kirk Radke - Partner, Kirkland & Ellis LLP

Kirk Radke has 26 years of experience advising global private equity clients in virtually every type of complex business transaction. Mr. Radke has extensive experience with the spinout of institutional private equity units, representing the principals of institutional private equity units in all aspects of the spinout from the parent institution, the formation of an advisory relationship for the unit’s legacy portfolio, and the formation of the principals’ new funds and related entities. He also has experience with strategic alternatives for private equity firms (including raising public capital for such firms, and mergers or alliances with other private equity firms), carried interest programs and similar arrangements for private equity sponsors, fund formations, acquisitions, and recapitalizations. Mr. Radke is recognized internationally as one of today’s top private equity attorneys. World Finance magazine named him “Best Private Equity Lawyer USA” in 2009 and “Best Lawyer USA” in 2010. In addition to numerous philanthropic activities, Mr. Radke is an inaugural member of the Clinton Global Initiative (CGI) and on the board of directors of the Atlantic Council. Mr. Radke holds a BA from Stanford University and a JD and MBA from the University of Virginia.

Kirkland & Ellis has a 100 year history of advising clients around the world in complex litigation, corporate and tax, intellectual property, restructuring, and counseling matters. Approximately, 1,500 lawyers in varying practice areas work together as multidisciplinary teams to provide the full-service capabilities clients need for the legal matters they retain Kirkland to handle.