Lynn Tilton

Lynn Tilton
Born Lynn Garfinkle
(1959-04-22) April 22, 1959
The Bronx, New York City, New York
Residence Rumson, New Jersey and Highland Beach, Florida
Nationality American
Education Teaneck High School
Alma mater Yale University (B.A., American Studies, 1981)
Columbia Business School
Occupation Collateralized loan obligation manager, business owner
Known for CEO of Patriarch Partners
Home town Teaneck, New Jersey
Spouse(s) Kevin Wayne Tilton (divorced in 1995 in Florida)

Lynn G. Tilton (born April 22, 1959) is an American businesswoman and collateralized loan obligation (CLO) creator, owner and manager.[1][2] She is the chief executive officer and sole principal of Patriarch Partners, LLC and its affiliated entities,[3] a holding company managing 75 companies. She worked for Goldman, Sachs and Merrill Lynch as an investment banker.

Early life and education

Tilton was born in The Bronx,[3] raised in Teaneck, New Jersey and attended Teaneck High School, where she played on the tennis team.[4] Her father, Jerry Garfinkle, was a New York City schoolteacher and a strong influence on her. He died of a brain tumor during her junior year in college.[5] She obtained a BA degree in American Studies from Yale University in 1981 and an MBA degree in Finance from Columbia University.[6]

Career

Tilton began her career at Morgan Stanley in 1981. Subsequently, she also worked for Goldman, Sachs & Co. after graduating with an MBA from Columbia University. She had also worked in Kidder Peabody and Merrill Lynch as an investment banker until 1989. Tilton was an executive at Long Drive Management Trust, a special situations investment fund, and Executive Managing Director of Papillon Partners, Inc., a firm which she founded to offer customized research, valuation, and execution services to sellers of bank loans and high yield bonds.

By 1998, she had decided to retire from her job as a partner at Amroc Investments. She returned to New York from Costa Rica in 2000 and formed a partnership with Dennis Dolan from Nomura.[7] They had purchased a portfolio of distressed commercial loans and packaged them into a CLO at a time when they were new. As the economy improved, the securities issued by Patriarch grew in value. Since 2000, through Patriarch Partners' affiliated funds, Tilton has had ownership in and restructured more than 240 companies with combined revenues of $100 billion. She is also Chairman and CEO of MD Helicopters, Inc.,[8][9] a manufacturer of commercial and military helicopters, the acting CEO of Dura Automotive Systems,[10] a Tier 1 supplier to automotive and transportation industry OEMs, and CEO of Stila, a cosmetics company.[11]

In October 2011, Tilton was interviewed by Barbara Walters for a 20/20 special.[12][13] She appears periodically on CNBC[14] and is an occasional contributor to The Huffington Post.

Awards and accolades

On January 21, 2011, Lynn Tilton was honored as "Aviation Entrepreneur of the Year" at the 8th Annual Living Legends of Aviation Awards ceremony at the Beverly Hilton in Beverly Hills, CA. She was recognized for her leadership in the successful turnaround of Patriarch portfolio company MD Helicopters (MDHI)[15]

On December 18, 2012, Diversity Woman Magazine awarded Lynn Tilton the Mosaic Women Legend Award for her efforts in saving American jobs. The award was presented at the National Diversity Woman Business Leadership Conference.[16]

On November 19, 2014, Lynn Tilton was presented with the Women's Entrepreneurship Day Pioneer Award in Business at the United Nations.[17]

On September 5, 2014, Lynn Tilton was awarded the Intercollegiate Tennis Association (ITA) Achievement Award at the ITHF Board of Directors Meeting at the Grand Hyatt Hotel in New York. The ITA Achievement Award pays tribute each year to past participants in the world of varsity tennis who have achieved excellence in their chosen careers. The spirit of the award honors both professional success and contributions to society, made either as a direct result of a career or through humanitarian efforts.[18]

Controversy

In March 2015, the U.S. Securities and Exchange Commission (SEC) charged Tilton with defrauding her collateralized loan obligation (CLO) investors.[19][20][21][22] She filed a lawsuit against the SEC on April 1, 2015, to stop the SEC from pursuing the charges against her.[23][24] On September 27, 2017, an SEC judge dismissed the charges.[25][26]

In June 2016, an article in The New York Times attributed the collapse of TransCare, a provider of ambulance services, directly to Patriarch and Lynn Tilton.[27]

Personal life

According to Patriarch Partners' website, Tilton married Kevin Wayne Tilton during her junior year at Yale and divorced in 1995 in Florida. By age 25, she had a daughter named Carly.[28] She lives in Rumson, New Jersey, and Highland Beach, Florida.[29]

References

  1. ↑ Nathan Vardi (March 30, 2015). "SEC Accuses Diva Of Distressed Lynn Tilton Of Nearly $200 Million Fraud". Forbes. Retrieved April 1, 2015.
  2. ↑ Matthew Robinson (April 1, 2015). "Distressed Diva Tilton Has More Than Just the SEC to Worry About". Bloomberg Business. Retrieved April 3, 2015. ... on fees she collected on $2.5 billion of collateralized loan obligations, or CLOs, she created to help fund her various businesses.
  3. 1 2 Patriarch Partners, LLC. "Lynn Tilton: Dedicated to Excellence". PatriarchPartners.com. Retrieved December 18, 2012.
  4. ↑ http://www.aviationtoday.com/rw/issue/cover/A-Visit-With-Lynn-Tilton_29584.html#.VRuS6EtDGRU
  5. ↑ Pressler, Jessica. "What Does It Take for a Female Tycoon to Get Noticed Around Here?", New York Magazine, April 18, 2011
  6. ↑ "News Headlines". Cnbc.com. 2009-06-01. Retrieved 2012-06-19.
  7. ↑ Pressler, Jessica (2011-04-10). "What Does It Take for a Female Tycoon to Get Noticed Around Here?". New York Magazine. Retrieved 2018-09-27.
  8. ↑ ""Rock star" executive Lynn Tilton rescues companies — and saves jobs". Seattle Times. March 14, 2009. Retrieved April 1, 2015.
  9. ↑ Mary Dixie Carter (October 16, 2006). "Wall Street Copter Queen Takes On Rumsfeld's Boys". The New York Observer. Retrieved April 1, 2015.
  10. ↑ Dura Automotive Systems. "About: Leadership Team: Lynn Tilton". DuraAuto.com. Retrieved December 18, 2012.
  11. ↑ "Patriarch's Tilton to head Stila, Jane cosmetics companies". New York Business Journal. February 7, 2013. Retrieved April 1, 2015.
  12. ↑ ABC News. "'A Woman's Work Is Never Done'". ABCNews.go.com. Retrieved December 18, 2012.
  13. ↑ Rob Wallace (October 29, 2011). "The Stylish Job Saver: Lynn Tilton Owns More Companies Than Any U.S. Woman". 20/20. Retrieved April 1, 2015.
  14. ↑ CNBC Lynn Tilton appearances on CNBC.
  15. ↑ http://www.businesswire.com/news/home/20110118006382/en/Lynn-Tilton-CEO-MD-Helicopters%E2%84%A2-Honored-Living
  16. ↑ http://www.businesswire.com/news/home/20121218005921/en/Lynn-Tilton-named-2012-Diversity-Woman-Magazine's
  17. ↑ http://womenseday.org/wed-awards/
  18. ↑ http://www.itatennis.com/AboutITA/News/Archived_News/2014_News_Archive/Lynn_Tilton_receives_2014_ITA_Achievement_Award.htm
  19. ↑ Sarah N. Lynch and Lauren Tara LaCapra (March 30, 2015). "U.S. SEC accuses financier Lynn Tilton of defrauding investors". Reuters. Retrieved April 1, 2015.
  20. ↑ Alexandra Stevenson (March 30, 2015). "S.E.C. Accuses Financier Lynn Tilton of Defrauding Investors". The New York Times. Retrieved April 1, 2015.
  21. ↑ Stephen Gandel (March 31, 2015). "Case against 'Diva of Distressed' exposes problems in a hot Wall Street market". Fortune. Retrieved April 1, 2015.
  22. ↑ Gregory Mott (March 30, 2015). "Lynn Tilton Accused of Defrauding CLO Clients in SEC Complaint". Bloomberg Business. Retrieved April 1, 2015.
  23. ↑ Jonathan Stempel (April 1, 2015). "Financier Lynn Tilton sues SEC after it charges her with fraud". Reuters. Retrieved April 1, 2015.
  24. ↑ Matthew Robinson and Patricia Hurtado (April 1, 2015). "Tilton, Patriarch Say SEC Violated Constitutional Rights". Bloomberg Business. Retrieved April 1, 2015.
  25. ↑ https://www.sec.gov/alj/aljdec/2017/id1182cff.pdf
  26. ↑ https://www.law360.com/articles/968813/tilton-patriarch-beat-sec-fraud-claims-over-zohar-funds
  27. ↑ DANIELLE IVORY, BEN PROTESS and KITTY BENNETT (Jun 25, 2016). "When You Dial 911 and Wall Street Answers". New York Times.
  28. ↑ Lynn Tilton. "Lynn Tilton". patriarchpartners.com. Retrieved April 1, 2015.
  29. ↑ U.S. Securities and Exchange Commission (March 30, 2015). "In the matter of Lynn Tilton" (PDF). Retrieved April 1, 2015. Lynn Tilton, age 55, is a resident of Rumson, New Jersey and Highland Beach, Florida.
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