Tony Ressler

Tony Ressler
Born (1959-07-16) July 16, 1959
Nationality American
Education Georgetown University,[1] Columbia Business School [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 Increase 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 24, 2015 for estimated $730 million[4] - $850 million.[5][6]

Biography

Born in 1959 to a Jewish family,[7] Ressler was one of five children born to Dorothy and Ira Ressler.[8] His father was an attorney and distinguished World War II veteran.[8] 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.[9] 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.[9]

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.[10][11][12][13] 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.[14]

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.[15]

In 2015, Ressler formed a group that includes former NBA player Grant Hill to purchase the Atlanta Hawks of the National Basketball Association.[16]

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.[9]

Personal life

In 1988, he married actress Jami Gertz.[7] 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.[17] They are members of the Wilshire Boulevard Temple.[7]

His sister, Broadway producer Debrah Ressler, is married to Apollo co-founder Leon Black.[18] His brother, Richard Ressler, is a principal and founder of CIM Investment management.[19]

References

  1. 1 2 3 Arash Massoudi (April 1, 2014). "Ares hopes to raise $500m in IPO". Financial Times.
  2. ↑ Forbes: The World's Billionaires - Anthony Ressler August 2014
  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. 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
  8. 1 2 New York Times: "Paid Notice: Deaths RESSLER, IRA RICHARD" October 29, 2000
  9. 1 2 3 Ares Management website: "Tony Ressler - Senior Partner retrieved August 20, 2013
  10. ↑ Ex-Drexel Executives Arrange Aid for Fruit of the Loom, August 24, 1990
  11. ↑ Changes at Drexel Continue. New York Times, March 11, 1989
  12. ↑ Drexel's Uncertain Future. New York Times, October 15, 1989
  13. ↑ Drexel Divided on Settlement. New York Times, December 17, 1988
  14. ↑ Ares Management to Take New Fund Public. Los Angeles Times, April 22, 2004
  15. ↑ Milwaukee Journal Sentinel: "Two Investors from L.A. in on deal" by Don Walker April 27, 2005
  16. ↑ Arnovitz, Kevin (April 22, 2015). "Hawks to be sold for nearly $850M to Antony Ressler-led group". ESPN.com. Retrieved April 22, 2015.
  17. ↑ Almendrala, Anna (15 June 2011). "'A Better Life' Hits Home For Inner-City Students At Movie Screening (VIDEO)". Huffington Post. Retrieved 15 November 2011.
  18. ↑ Bloomberg: "Leon Black Loses to Carl Icahn as Apollo Sets New Credit Terms" By Anthony Effinger & Cristina Alesci July 7, 2010
  19. ↑ Huffington Post: "Tony and Richard Ressler" retrieved August 20, 2013
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