Oppenheimer & Co. acquires Restructuring Group from Fulcrum Strategy Partners
October 28 2008 - 8:30AM
PR Newswire (US)
NEW YORK, Oct. 28 /PRNewswire-FirstCall/ -- Oppenheimer & Co.
announced today the acquisition of the Restructuring Group from
Fulcrum Strategy Partners. Fulcrum was formed last year by industry
veterans Nicholas W. Tell, Jr., former Portfolio Manager of Trust
Company of the West's successful distressed funds, and Eben Paul
Perison, former Managing Director with Fortress Investment Group
and former Co-Head of Investment Banking for Libra Securities.
Fulcrum was formed to capitalize on Mr. Tell's and Mr. Perison's
extensive experience in advising and investing in middle market
troubled companies. Oppenheimer Holdings Inc. (OPY on the NYSE),
through its principal subsidiaries, Oppenheimer & Co. Inc. (a
U.S. broker-dealer) and Oppenheimer Asset Management Inc., offers a
wide range of investment banking, securities, investment management
and wealth management services from 86 offices in 21 states and
through local broker-dealers in 3 foreign jurisdictions. OPY Credit
Corp. offers syndication as well as trading of issued corporate
loans. The Restructuring Group built by Fulcrum is comprised of
professionals with over 50 years of collective experience in
restructuring middle market companies. These professionals have
been involved in over 50 creditor or ad hoc committees,
restructuring over 100 companies in a variety of industries during
the past 15 years. "We were quickly able to build a group at
Fulcrum that is able to advise companies and creditors from an
investor's perspective," said Eben Perison, Head of the
Restructuring Group. "We believe that our credibility and
relationships built from not just advising companies but also from
actually investing in hundreds of companies during the past two
distressed cycles will be an invaluable resource to help troubled
companies and creditors through this next cycle." "We are pleased
to combine forces with Fulcrum and look forward to working with
Nick Tell and Eben Perison, two highly experienced professionals",
said Albert Lowenthal, Chairman and CEO of Oppenheimer. "This
acquisition is a powerful combination of Oppenheimer's breadth of
M&A and corporate finance capabilities in the middle market
with the Restructuring Group's extensive expertise in restructuring
middle market companies," said Nick Tell, CEO of Fulcrum Strategy.
DATASOURCE: Oppenheimer Holdings Inc. CONTACT: Nicholas W. Tell,
Jr., (310) 798-7777
Copyright