Tony Ressler
| Tony Ressler | |
|---|---|
| Born | July 16, 1959 |
| Nationality | American |
| Education | Georgetown University,[1] Columbia University (MBA)[1] |
| Known for |
co-founder of Apollo Management; co-founder of Ares Management; minority owner of the Milwaukee Brewers; majority owner of the Atlanta Hawks |
| Net worth |
 US$ 1.42 billion (September 2015)[2] |
| Spouse(s) | Jami Gertz (m. 1988) |
| Children |
Oliver Jordan Ressler Nicholas Simon Ressler Theo Ressler |
| Parent(s) |
Dorothy Ressler Ira Ressler |
Antony P. "Tony" Ressler (born July 16, 1959) is an American businessman. He co-founded the private equity firm Apollo Global Management in 1990;[1] and co-founded the private equity firm Ares Management in 1997.[3] Ressler and Grant Hill are both owners of the Atlanta Hawks. They purchased the team on June 24th, 2015 for an estimated $730 million. [4]
Biography
Born in 1960 to a Jewish family,[5] one of five children born to Dorothy and Ira Ressler.[6] His father was an attorney and distinguished World War II veteran.[6] Ressler graduated with a B.S.F.S. from Georgetown University’s School of Foreign Service and received an MBA from Columbia University’s Graduate School of Business.[7] After school, 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.[7]
In 1990, he co-founded, on the heels of the collapse of Drexel Burnham Lambert, the private equity firm Apollo Global Management along 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, who all worked under Black in the mergers and acquisitions department.[8][9][10][11] 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.[12]
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.[13]
In 2015, Ressler formed a group that includes former NBA player Grant Hill to purchase the Atlanta Hawks of the National Basketball Association.[14]
Philanthropy
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.[7]
Personal life
In 1988, he married actress Jami Gertz.[5] 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.[15] They are members of the Wilshire Boulevard Temple.[5]
His sister, Broadway producer Debrah Ressler, is married to Apollo co-founder Leon Black.[16] His brother, Richard Ressler, is a principal and founder of CIM Investment management.[17]
References
- 1 2 3 Arash Massoudi (April 1, 2014). "Ares hopes to raise $500m in IPO". Financial Times.
- ↑ Forbes: The World's Billionaires - Anthony Ressler August 2014
- ↑ "People:Ares Management LP (ARES.K)". Reuters. Retrieved February 18, 2015.
- ↑ Bloomberg: "NBA Governors Approve $730 Million Hawks Sale to Ressler’s Group" By Scott Soshnick and Zeke Faux June 24, 2015
- 1 2 3 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
- 1 2 New York Times: "Paid Notice: Deaths RESSLER, IRA RICHARD" October 29, 2000
- 1 2 3 Ares Management website: "Tony Ressler - Senior Partner retrieved August 20, 2013
- ↑ Ex-Drexel Executives Arrange Aid for Fruit of the Loom, August 24, 1990
- ↑ Changes at Drexel Continue. New York Times, March 11, 1989
- ↑ Drexel's Uncertain Future. New York Times, October 15, 1989
- ↑ Drexel Divided on Settlement. New York Times, December 17, 1988
- ↑ Ares Management to Take New Fund Public. Los Angeles Times, April 22, 2004
- ↑ Milwaukee Journal Sentinel: "Two Investors from L.A. in on deal" by Don Walker April 27, 2005
- ↑ Arnovitz, Kevin (April 22, 2015). "Hawks to be sold for nearly $850M to Antony Ressler-led group". ESPN.com. Retrieved April 22, 2015.
- ↑ Almendrala, Anna (15 June 2011). "'A Better Life' Hits Home For Inner-City Students At Movie Screening (VIDEO)". Huffington Post. Retrieved 15 November 2011.
- ↑ Bloomberg: "Leon Black Loses to Carl Icahn as Apollo Sets New Credit Terms" By Anthony Effinger & Cristina Alesci July 7, 2010
- ↑ Huffington Post: "Tony and Richard Ressler" retrieved August 20, 2013
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