Tony Ressler

  (Redirected from Antony Ressler)

Antony P. Ressler (born October 12, 1960) is an American billionaire private equity tycoon and venture capitalist, based in Beverly Hills. He co-founded the private equity firms Apollo Global Management in 1990,[1] and Ares Management in 1997.[3] The key founder of both firms is Ressler's brother-in-law, Leon Black. Ressler is the majority and controlling owner of the Atlanta Hawks. His group purchased the team in June 2015 for an estimated $730 million[4] - $850 million.[5][6]

Tony Ressler
Born (1960-10-12) October 12, 1960 (age 60)
NationalityAmerican
EducationGeorgetown University,[1] Columbia Business School[1]
Known forCo-founder of Apollo Management;
co-founder of Ares Management;
minority owner of the Milwaukee Brewers;
majority owner of the Atlanta Hawks
Net worthIncrease$2.6 billion (July 2019)[2]
Spouse(s)
(m. 1989)
Children3 sons
RelativesLeon Black (brother-in-law)

BiographyEdit

Born in 1960 to a Jewish family,[7][8] Ressler was one of five children born to Dorothy and Ira Ressler.[9] His father was an attorney and World War II veteran.[9] Ressler earned a BSFS from Georgetown University's School of Foreign Service, and an MBA from Columbia University's Graduate School of Business.[10] After university, he worked at Drexel Burnham Lambert eventually reaching senior vice president in the high yield bond department with responsibility for the new issue/syndicate desk.[10]

In 1990, on the heels of the collapse of Drexel Burnham Lambert, he co-founded the private equity firm Apollo Global Management with Leon Black, Drexel's managing director, head of the Mergers & Acquisitions Group, and co-head of the Corporate Finance Department; John Hannan, Drexel's former co-director of international finance; Craig Cogut, a lawyer who worked with Drexel's high-yield division in Los Angeles; Arthur Bilger, the former head of the Drexel's corporate finance department; and Marc Rowan, Josh Harris and Michael Gross, all of whom worked under Black in the mergers and acquisitions department.[11][12][13][14] In 1997, he co-founded Ares Management with former Apollo Global Management co-worker John H. Kissick and Bennett Rosenthal, who joined the group from the global leveraged finance group at Merrill Lynch.[15]

In 2005, he belonged to an investment group that made a successful bid led by Mark Attanasio to purchase Major League Baseball's Milwaukee Brewers.[16]

In 2015, Ressler formed a group that includes former NBA player Grant Hill, Sara Blakely, Jesse Itzler, Steven Price, and Rick Schnall, to purchase the Atlanta Hawks of the National Basketball Association.[17][18]

PhilanthropyEdit

Ressler serves as a member of the Executive Committee of the Board of Directors of the Cedars-Sinai Medical Center; as Finance Chair and member of the Executive Committee of the Los Angeles County Museum of Art; as a board member of Campbell Hall Episcopal School in Studio City, California; is one of the founding members of the board and Finance Chair of the Painted Turtle Camp, an organization that takes children with chronic and life-threatening illnesses on camping trips. Ressler is also a strong supporter of military veterans through the work of The Greatest Generations Foundation. [10]

Personal lifeEdit

On June 16, 1989, he married actress Jami Gertz.[7][19][20][21] They have three sons: Oliver Jordan Ressler (born 1992), Nicholas Simon Ressler (born 1995), and Theo Ressler (born 1998). Gertz-Ressler High Academy, a member of The Alliance for College-Ready Public Schools, is named after the couple.[22] They are members of the Wilshire Boulevard Temple.[7]

His sister, Broadway producer Debra Ressler, is married to Apollo co-founder Leon Black.[23] His brother, Richard Ressler, is a principal and founder of CIM Investment management.[24]

ReferencesEdit

  1. ^ a b c Arash Massoudi (April 1, 2014). "Ares hopes to raise $500m in IPO". Financial Times.
  2. ^ "Forbes: Antony Ressler"
  3. ^ "People:Ares Management LP (ARES.K)". Reuters. Retrieved February 18, 2015.
  4. ^ Bloomberg: "NBA Governors Approve $730 Million Hawks Sale to Ressler's Group" By Scott Soshnick and Zeke Faux June 24, 2015
  5. ^ "Atlanta Hawks Sold to Ares' Ressler for $850 million, Group Includes Sara Blakely and Grant Hill". Atlanta Business Chronicle. April 24, 2015. Retrieved January 27, 2016.
  6. ^ Atlanta Hawks Selling for $850 Million. The Wall Street Journal. Ben Cohen. April 22, 2015. accessed February 9, 2016
  7. ^ a b c Jewish Journal: "It's Always Gilda - Actress Jami Gertz wants to do justice to the memory of the late SNL comedienne" By Naomi Pfefferman April 25, 2002
  8. ^ Atlanta Jewish Times: "Jewish Investor Buying Hawks" by David R. Cohen April 29, 2015
  9. ^ a b New York Times: "Paid Notice: Deaths RESSLER, IRA RICHARD" October 29, 2000
  10. ^ a b c Ares Management website: "Tony Ressler - Senior Partner Archived 2012-11-05 at the Wayback Machine retrieved August 20, 2013
  11. ^ Ex-Drexel Executives Arrange Aid for Fruit of the Loom, August 24, 1990
  12. ^ Changes at Drexel Continue. New York Times, March 11, 1989
  13. ^ Drexel's Uncertain Future. New York Times, October 15, 1989
  14. ^ Drexel Divided on Settlement. New York Times, December 17, 1988
  15. ^ Ares Management to Take New Fund Public. Los Angeles Times, April 22, 2004
  16. ^ Milwaukee Journal Sentinel: "Two Investors from L.A. in on deal" by Don Walker April 27, 2005
  17. ^ Arnovitz, Kevin (April 22, 2015). "Hawks to be sold for nearly $850M to Antony Ressler-led group". ESPN.com. Retrieved April 22, 2015.
  18. ^ NBA: "Group Led By Tony Ressler Completes Purchase of Atlanta Hawks" June 25, 2015 | "Other investors include seven-time NBA All-Star Grant Hill, who will serve as Vice Chair of the Board, Townsquare Media Chair and CEO Steven Price, Clayton Dubilier & Rice partner Rick Schnall, and Spanx founder Sara Blakely and Marquis Jet co-founder Jesse Itzler, who are married"
  19. ^ "The 15 Most Charitable Celebrities in Hollywood". gotgravy.com. May 2, 2018. Retrieved September 9, 2018.
  20. ^ "Hawks representative Jami Gertz had a great reason for being at the NBA lottery". The Washington Post. May 16, 2018. Retrieved September 9, 2018.
  21. ^ "Jami-Gertz Married Life, Husband, Children, Career, Net worth, Biography, Age". thecelebscloset.com. May 9, 2018. Retrieved September 9, 2018.
  22. ^ Almendrala, Anna (15 June 2011). "'A Better Life' Hits Home For Inner-City Students At Movie Screening (VIDEO)". Huffington Post. Retrieved 15 November 2011.
  23. ^ Bloomberg: "Leon Black Loses to Carl Icahn as Apollo Sets New Credit Terms" By Anthony Effinger & Cristina Alesci July 7, 2010
  24. ^ Huffington Post: "Tony and Richard Ressler" retrieved August 20, 2013