Gibson Dunn & Crutcher LLP. Better late than never, we guess. The firm has announced the acquisition/growth of its oil and gas team down in Houston.
Goldman Sachs. Somehow its poor quarterly performance - largely due to poor distressed desk trades - is Morgan Stanley's fault.
Lazy Media. Perhaps the folks at Fortune should call us because their research skills are soft. The other day Fortune reported on Quantum Partners' purchase of Violin Memory out of bankruptcy. Of note, QP is a fund tied to billionaire George Soros. The article - not particularly informative in any way whatsoever - doubled-down on its uselessness by noting that "terms of the deal were not disclosed," which, for those of us who know better, reeks of journalistic laziness. Why? Well, of course the terms needed approval by the bankruptcy court and so they were 100% publicly available. $25.6mm (including the DIP/exit facility rollup). Just saying.
Puerto Rico. Apparently it has been a distressed investing quagmire.
Owl Creek Asset Management is shutting down its Asia fund, voluntarily (cough cough) chopping 10% of AUM off. An interesting move considering a general view that there'll be a lot of opportunity there...
Greg Berube (Managing Director) has been named Head of Restructuring in the Americas at Goldman Sachs Group.
Clinton Ray (Managing Director) has been named Head of Restructuring in Europe, the Middle East, and Asia at Goldman Sachs Group.
The recipients of Turnaround & Workouts "People to Watch - 2017: Business Professionals Making Their Mark" which is, uh, shall we say, an interesting collection of restructuring professionals. This year's recipients are Robin Chiu (Goldin Associates), Evan Hengel (FTI Consulting Inc.), Michael Jacoby (Phoenix Management Services), Kent Percy (AlixPartners LLC), Frank Pometti (Zolfo Cooper), Walter Popiel (Conway MacKenzie), John Singh (PJT Partners), Jeffrey Stegenga (Alvarez & Marsal LLC)(!!), Alexander Svoyskiy (Perella Weinberg Partners), and Travis Vandell (JND Legal Administration).
