Neuberger Berman

“George Walker, who's now running Neuberger, had come up with this idea that I really described as the first outsource CIO at Goldman. We were over the wall working with large institutional families, a lot of times pre-transaction.”

“There are four things that matter. The ability to put debt on top of you, the ability to take assets away, the ability to take money out of the system, the economic terms of your agreement.”

“Having a financial guy as chairman of a company I don't want that. I don't want someone on eight boards. I want someone who lives it and breathes it.”

“When you're doing straight preferreds, oftentimes they just refinance us out. You are a bridge in the structure between six and eight times, If the company does it all well, they're very quickly going to eliminate 16% money.”

“There are too many people in this hybrid space that pitch unrealistic returns that you're only being driven by either buying equity And something has a lot of volatility or taking massive industry or company risk, and you're pitching it as downside protection.…”

“My least favorite theses are value traps. I'm going to fire X, Y, and Z, and I'll be able to create an X multiple. Other people may do this well. In my 31, 32 years of doing this, that's always gone poorly. I will take top line Over terminating people, cutting…”