Louis Friedman has joined P. Schoenfeld Asset Management as president and managing partner of a new practice focused on private investments and long-term public holdings. He previously was with Bear Stearns, as vice chairman of investment banking and global chairman of M&A.
P. Schoenfeld Asset Management LLC (PSAM), a global, multi-strategy investment advisor with more than $3 billion in assets under management, announced today that Louis P. Friedman will join the firm this spring to lead a new strategy focused on private investments and long term public holdings. Mr. Friedman will serve as President and Managing Partner of that effort, a new position at the firm, and will be a member of the Executive Committee of PSAM. Peter Schoenfeld, Chief Executive and Chief Investment Officer will collaborate with Mr. Friedman and oversee the development of this new strategy and its risk management practices.
Mr. Friedman joins PSAM from Bear Stearns, where he served as a Vice Chairman of Investment Banking and Global Chairman of Mergers & Acquisitions. He has also been a member of the Investment Committee for Bear Stearns Merchant Banking and has served on the President's Advisory Council.
Mr. Schoenfeld said, “I've known and respected Lou for many years, and am thrilled he will be joining our global team. He brings a deep understanding of industry dynamics and possesses significant and relevant experience in both the public and private sectors, which will be critical as we expand into this new strategy under his leadership. As a trusted advisor, Lou has established an extensive network of relationships in the international business community. We also expect to leverage his skills within the existing portfolio and benefit from his years of experience as we take advantage of the unusual number of new investment opportunities available in the market today.”
Mr. Friedman has over 20 years experience in the investment banking industry. He joined Bear Stearns in 2000 from Donaldson, Lufkin and Jenrette where he built the Media & Communications M&A Group into one of Wall Street's top-ranked teams in the sector. Prior to DLJ, Mr. Friedman was a senior banker at Wasserstein Perella & Co. which he joined at its founding from The First Boston Corporation.
“I am delighted to join Peter and the team at PSAM,” said Mr. Friedman. “Although I have the greatest respect for my former partners and colleagues at Bear Stearns and expect to continue to work closely with them in the future, this professional change represents a unique opportunity for me to continue my career by becoming a principal investor. Peter has put the firm in a perfect position to expand its business model successfully with new strategies that will deploy flexible capital in a range of public and private situations. I look forward to building the business with new talent and creative ideas that will reinforce PSAM's position as a leader in the alternative asset industry. “
During his career, Mr. Friedman has played a key role in major transactions in the telecommunications, media and other consolidating industries. He has advised corporate and financial sponsor clients in transactions in wireless communications (Deutsche Telekom, Orange, Western Wireless, Weather Investments, Rural Cellular, Dobson, Ubiquitel, Midwest Wireless), incumbent telecoms (Qwest/US West), publishing and information services (Thomson, R.H. Donnelly, Journal Register, American Media), cable and broadcasting (Century Communications, Comcast, News Corp.), media (Time/Warner), logistics (UPS, TNT Logistics), and mining (Goldcorp.).
Mr. Friedman holds an A.B. from Stanford University where he graduated with honors and distinction in economics and history, and a J.D. with honors from Stanford Law School.