We will manage our expenses with great caution

The features of Wall Street banker explains to "Echoes" the objective of the M & A boutique that it has launched. This in three trades (Council, strategic investment and asset management), it should be profitable next year.

Why create Perella Weinberg Partners at the time when the offer of shops was never also provided

Our ambition is not to propose a more boutique. We we're rather inspired by the original model of big Wall Street banks such as the former Goldman Sachs or Morgan Stanley former. From a personal point of view, it is the crisis through Morgan Stanley last year which led me to consider how best to make my profession of banker-Council. And the conclusion was that it was time to start again in the adventure of the creation of a "partnership", as I had already done with Wasserstein Perella from 1988.

Do you focus on the only Council in fusion-acquisition

We will have three trades. The Council merger-acquisition and restructuring, of course. It is this activity that our project is constituted by the experience gained by the founding partners. Strategic investment, then. We intend to accompany our customers in some of their investments. It is not to compete, including by raising funds "private equity", but coïnvestir alongside them using a portion of our own funds for minority tickets. Asset management, finally. But before start us in this job, we will first have to assemble a team. We are currently working and should be operational in a few months. It is then only that we will begin to put the money that the founding investors have put at our disposal. Cruising speed, we believe that the business of asset management should generate more than half of our activity.

Do you have what Fund this ambitious project

We have lifted a little more than 1 billion. The idea is to spend 20 of this sum to Perella Weinberg Part ners, the rest being for working capital to be invested on behalf of our founding investors. We will manage our expenses with great caution. If our "business plan" is true, the dead will be reached somewhere in 2007. In any case, I am rather optimistic about the situation in M & A in particular and on the fact that this trend should last.

Where are the funds that you have met

They were made by the twelve founders of course and a group of eleven investors which included the Japanese Mitsubishi-UFJ Bank with whom we have an M & A clients exchange agreement. The other ten investors, include eight families shareholders of major international industrial groups and two other institutions. However, the founders hold 80 of the shares and investors the balance.

How to organize the firm

It is a "partnership" which will operate on both sides of the Atlantic in a balanced way and to be managed in London, as in New York, by local partners. Today, our workforce are limited to 35 people, including 12 partners. But, in the term, we intend to be a hundred of professionals. We have already attracted some big names in the M & A and we want to establish a group of young professionals attracted by our model. We to have thus already recruited a dozen from Morgan Stanley, Goldman Sachs and Cerberus for example.

Are you already working on some folders

Until then, we have worked informally on several records, also well transatlantic local. We will now able to sign warrants.

Is your term objective to introduce the firm on the stock market

Absolutely not. We have so much to do before that I would not even consider it today. And then, you know, it is a blessing not be side and do not have to issue results in growth quarter after quarter. In any case, the rating is not a fantasy for the partners of the firm.