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Monday, April 6, 2009
Angelo Gordon Poaches Arthur Peponis From Goldman
Arthur Peponis, a senior GS banker who used to advise PE firms on LBO deals and helped originate over 150 deals while at Goldman, identifying $3 billion in investments, has left the firm to join Angelo Gordon. AG, best known for distressed debt investments, real estate and mortgage securities as well as the big bin of Dramamine in the middle of the trading floor (largest holders of SRS ETF as of December 31) is likely planning on expanding into private equity. The timing of this expansion may be a little questionable.
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2 comments:
or maybe they are hiring a smart guy who knows where all the bodies are buried, so they can come in aggressively in a rather distressed secondary market for securities on specific deals or even direct stakes in funds and avoid the dreck and get the good stuff cheap
Ironic, used to advise on LBOs that blew up, now going to advise someone on how to purchase blown-up LBOs. It is a never ending cycle of incompetence.
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