TowerBrook Capital Partners

TowerBrook Capital Partners L.P.
Type Limited partnership
Foundation 2001 (2001)
Co-CEO's Neal Moszkowski, Ramez Sousou
Headquarters New York (USA) and London (UK)
Products Private equity funds, structured opportunities fund
Funds raised from investors $9.4 billion
Number of employees 90 (at December 2016)
Website www.towerbrook.com

TowerBrook Capital Partners, L.P. (TowerBrook) is an investment management firm headquartered in London and New York City. The firm pursues private equity and structured opportunities strategies and by the end of June 2016 had raised approximately $9.4 billion from investors.[1]

The firm is led by Neal Moszkowski and Ramez Sousou, former co-heads of Soros Private Equity Partners (SPEP).[2] They are co-CEOs of TowerBrook and are based in New York and London respectively.

In 2015 TowerBrook acquired a premier national retailer of misses, petite, tall and women's clothing, J.Jill, from Golden Gate Capital.[3]

Investment Funds

From 2001, when TowerBrook Capital Partners L.P. (then a subsidiary of Soros Fund Management LLC) launched its first fund, through June 2016, the firm raised a total of $9.4 billion from investors in four private equity funds and one structured opportunities fund, and invested in 45 companies across a range of sectors in Europe and the US.[4]

Strategy

TowerBrook’s private equity strategy is to pursue control-oriented investments in large and mid-market companies, principally on a proprietary basis and often in situations characterized by complexity. The firm’s structured opportunities universe includes multiple asset classes, from stressed and distressed debt instruments in both primary and secondary markets to structured equity and structured assets. TowerBrook does not consider investing in armaments, tobacco, sexual exploitation and unregulated gambling.[5]

Social Engagement

The TowerBrook Foundation is a charitable organization set up by the partners of the firm in 2006.[6] Its primary focus is on supporting young people in education, employment or training in the communities in which TowerBrook operates. Since 2006 the TowerBrook Foundation has provided resources in cash and kind to help charities such as City Year[7] and other organizations directly engaged in this objective.

From the end of 2010 through November 2016, Ramez Sousou donated £303,100 to the Conservative Party in the UK.[8]

Litigation

In 2017, Vistage, a former portfolio company of TowerBrook, was sued by Direct List and member Eran Salu alleging misuse of information shared in a meeting by a Vistage employee [9]. The complaint was originally filed in 2015. In 2016 a summary judgement dismissing the case was granted by the United States District Court, San Diego, California [10]. In September 2017 Eran Salu and Direct List filed a new complaint in the Superior Court in San Diego.

References

  1. ↑ TowerBrook website: "Archived copy". Archived from the original on 2016-11-22. Retrieved 2016-11-25.
  2. ↑ SPEP launched in 1999: https://www.pehub.com/buyouts/soros-group-launches-1b-european-lbo-arm/
  3. ↑ J.Jill - Our history: http://www.jjill.com/jjillonline/Customer/AboutUs.aspx?q=Ourhistory
  4. ↑ TowerBrook website: http://www.towerbrook.com/news/
  5. ↑ TowerBrook website: http://www.towerbrook.com/responsible-investing/
  6. ↑ TowerBrook Foundation IRS filing (US): https://www.irs.gov/charities-non-profits/copies-of-scanned-eo-returns-available
  7. ↑ TowerBrook Foundation supports City Year (US and UK): https://www.cityyear.org/about-us/annual-report http://www.cityyear.org.uk/about-city-year-uk/annual-report/
  8. ↑ Ramez Sousou, The Electoral Commission (UK): http://www.electoralcommission.org.uk/
  9. ↑ Businesswire.com article: https://www.businesswire.com/news/home/20180124006318/en/Direct-List-Long-Time-CEO-Group-Member
  10. ↑ Leagle.com:https://www.leagle.com/decision/infdco20161104c87
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