Turnaround and Distressed
This panel will seek to discuss current opportunities in distressed and turnaround private equity investing, as well as how investments and strategies in this field have changed in light of the global economy’s underlying weakness. Panelists will also discuss the impact of regulatory changes on their investment process and provide their outlook for distressed investing going forward.
Moderator
Ken Rosen '80 - Partner, Lowenstein Sandler PC
Kenneth A. Rosen leads the Bankruptcy, Financial Reorganization & Creditors' Rights Group at Lowenstein Sandler PC. Kenneth is listed among The Best Lawyers in America in the bankruptcy and creditor-debtor rights section, the 2008-2012 editions of Chambers USA: America's Leading Lawyers for Business, and was featured in the 2005, 2006 and 2007 issues of Super Lawyers in the Bankruptcy and Workout section of the publication. In addition, Kenneth is ranked among the top unsecured creditor attorneys in the country by The Deal’s Bankruptcy Insider. He has extensive experience helping companies develop viable solutions to financial crises, including Chapter 11 reorganization, out-of-court workouts, financial reorganization, and litigation. Kenneth is a regular contributor to NY Metro area real estate publications, and has written extensively about bankruptcy in real estate and the general business press.
Panelists
Peter Alderman - General Counsel, Golden Tree Asset Management LP
Peter Alderman is General Counsel—Americas at GoldenTree Asset Management LP, an asset manager focusing on fixed income investing. Mr. Alderman has legal responsibility for distressed investing and restructuring at GoldenTree, and over the past several years, he has been involved in a number of such transactions, both domestically and abroad, including Neenah Enterprises, Inc., Canwest Publishing, Inc., KCA Deutag and Bawag P.S.K..
Prior to joining GoldenTree in April 2010, Peter Alderman was a senior associate in the corporate department at Debevoise & Plimpton LLP, where he began his legal practice in 2000. At Debevoise & Plimpton LLP, Mr. Alderman worked in leveraged finance, restructuring and mergers and acquisitions on domestic and cross-border transactions. Mr. Alderman also served as Foreign Counsel at Mitsui & Co., Ltd. (Tokyo) from 2005 to 2006. Mr. Alderman received his JD from Harvard Law School in 1999 and his AB from Harvard College in 1995. Mr. Alderman is a member of the New York Bar.
Paul Basta - Partner, Kirkland & Ellis LLP
Paul Basta is a partner in the Restructuring Group of Kirkland & Ellis LLP. He represents debtors, creditors and investors in restructuring distressed companies. Paul has been recognized as a leading lawyer in Chambers USA, America's Leading Lawyers for Business every year since 2006. The 2011 edition applauded him for being "a stellar restructuring specialist," while previous editions commended him on being "extremely smart and creative" as well as "always keeping in mind what's best for the company and providing consistently good advice on extremely difficult and challenging issues." Clients recognize that he "knows how to pull together disparate views and find the right solution," that he has "one of the best analytical minds on the street" and that he's "hard working, intuitive and a great communicator." He was also recognized in the 2012 edition of Chambers Global, World's Leading Lawyers for Business. Most recently, Paul was selected as one of Law360's 2012 "Bankruptcy MVPs" for accomplishments including "successfully bringing warring parties to the bargaining table in out-of-court restructurings." In the 2011 edition of IFLR1000: The Guide to the World's Leading Financial Law Firms, Paul was selected as a leading lawyer in Restructuring and Insolvency and one client was quoted as saying "Paul's very creative. He loves to get into the deal and really work it. He finds angles that other people generally don't see."
Some of Paul's significant debtor representations have included Charter Communications, which was selected as one of the deals of 2009 by The Deal, The Great Atlantic & Pacific Tea Company, Reader's Digest Association, MS Resorts, Hawaiian Telcom, BLB (Twin Rivers Casino), MoneyGram, Tecumseh Products Company, TOUSA, Leiner Health, Kimball Hill Homes, American Color Graphics, Autocam Corporation, Dura Automotive Systems, Global Crossing, Acterna Corporation, Rhythms NetConnections and Footstar. Paul also has represented Citigroup, Credit Suisse, Lehman Brothers and numerous other financial institutions and funds in connection with in-court and out-of-court restructurings. Paul also represents numerous private equity funds in connection with their distressed portfolio companies.
David Blechman `00 - Managing Director, HIG Capital
David Blechman is a Managing Director working in H.I.G. Capital's New York office. Mr. Blechman focuses on H.I.G. Capital's U.S. LBO business and is involved in all aspects of the investment process, including sourcing, transaction structuring, financing, and execution of post-closing growth strategies. Mr. Blechman has eighteen years of private equity and investment banking experience across a variety of industries. Previously, Mr. Blechman was Managing Director at Tower Three Partners and Principal at Sun Capital Partners. Prior to Sun Capital, Mr. Blechman spent five years with The Blackstone Group in their Restructuring and Reorganization practice. Mr. Blechman began his career with Lehman Brothers investment banking, working in Chicago and London. Mr. Blechman received his undergraduate degree in economics from University of Chicago and earned his M.B.A. from Columbia Business School. Dave also previously served as Adjunct Professor of Finance at Columbia Business School.
Brendan Carroll - Co-Founder & Partner
Brendan Carroll co-founded and serves as a Partner at Victory Park Capital, an alternative investment management firm established in June 2007. He is primarily responsible for sourcing private debt and equity investment opportunities, including assisting portfolio companies with strategic initiatives. He manages the sourcing professionals as well as fundraising and investor relations.
Previously, as a member of the Solutions Group at Magnetar Capital, Brendan Carroll focused on direct financings to small cap and lower middle market companies. He also has held various investment banking positions at William Blair and Company and Robertson Stephens, specializing in corporate finance and mergers and acquisitions. He has also worked in various capacities for U.S. Senator Joseph Lieberman (I., Conn.).
Brendan Carroll received a Bachelor of Arts degree with honors in government from Georgetown University and an M.B.A. from Harvard Business School. He is a member of the Board of Regents at Georgetown University, the Board of Trustees at National Louis University and the Leadership Advisory Council for Cristo Rey Jesuit High School. Brendan is also a board member of Loyola Press, Best Buddies Illinois, Victory Park Resources and Energy Maintenance Services. He speaks frequently on the topics of hedge fund, debt and private equity investing and has been a guest lecturer at University of Chicago Booth Global School of Business.
Paul Halpern - Chief Investment Officer, Versa Capital Management
Mr. Halpern has responsibility for day-to-day oversight and supervision of the content, quality and implementation of Versa's investment process, including transaction sourcing, due diligence, underwriting and execution. He is a member of the firm’s Investment, Portfolio and Management Committees, and is currently a Director of Versa’s portfolio companies Allen-Vanguard, American Laser Skincare, Avenue Stores, Bell + Howell, Bob’s Stores, Central Parking, Civitas Media, Holliston, Polartec and Simplexity. Mr. Halpern received a J.D. from Stanford Law School (with distinction, law review and Order of the Coif) and his B.A. from Reed College (Phi Beta Kappa). He has been a member of Versa and its predecessors since 1995.