Sujeet Indap's guest appearances

Sujeet Indap

Capital Allocators – Inside the Institutional Investment Industry

Private Equity Fast Pitch

The Acquirers Podcast

Max Frumes

Drew Dickson

Michael Batnick

Michael Mauboussin

Joel Greenblatt

Gregory Zuckerman

Rashmi Kwatra

Moses Kagan

Josh Brown

Brian Bares

Emanuel Citron

Brent Beshore

Dan Rasmussen

Ted Seides

James Clear

OwlTail

My guests on today’s show are financial journalists Max Frumes and Sujeet Indap, co-authors of “The Caesars Palace Coup,” a book detailing the bankruptcy of Caesars Entertainment. Coming off the heels of our Private Equity Masters mini-series, this conversation dives into a private equity deal gone wrong, including some technical aspects of what it takes to emerge from a bankruptcy. We walk through the intricacies, tensions and dynamics of the Caesars bankruptcy, whose stakeholders included Apollo, TPG, GSO, Elliot, Silver Point, Oaktree, and Appaloosa – a literal who’s who of giants in private equity and distressed investing. We then turn to applicable lessons for investors, including power dynamics, the unwritten rules of distressed investing, and the role of skill and luck.   Learn More Subscribe: Apple | Spotify | Google  Follow Ted on Twitter at @tseides or LinkedIn  Subscribe Monthly Mailing List Read the Transcript

My guests on today’s show are financial journalists Max Frumes and Sujeet Indap, co-authors of “The Caesars Palace Coup,” a book detailing the bankruptcy of Caesars Entertainment. Coming off the heels of our Private Equity Masters mini-series, this conversation dives into a private equity deal gone wrong, including some technical aspects of what it takes to emerge from a bankruptcy. We walk through the intricacies, tensions and dynamics of the Caesars bankruptcy, whose stakeholders included Apollo, TPG, GSO, Elliot, Silver Point, Oaktree, and Appaloosa – a literal who’s who of giants in private equity and distressed investing. We then turn to applicable lessons for investors, including power dynamics, the unwritten rules of distressed investing, and the role of skill and luck.  Learn More Subscribe: <a href="https://podcasts.apple.com/us/podcast/capital-allocators/id1223764016" rel="nofollow" target="_blank">Apple</a> | <a href="https://open.spotify.com/show/3q6PrjHVfRzpD2lN1g2XRU" rel="nofollow" target="_blank">Spotify</a> | <a href="https://podcasts.google.com/feed/aHR0cDovL3RlZHNlaWRlcy5saWJzeW4uY29tL3Jzcw==" rel="nofollow" target="_blank">Google</a> Follow Ted on Twitter at <a href="https://twitter.com/tseides?lang=en" rel="nofollow" target="_blank">@tseides</a> or <a href="https://www.linkedin.com/in/tedseides/" rel="nofollow" target="_blank">LinkedIn</a> Subscribe <a href="https://capitalallocatorspodcast.com/capitalallocatorspodcast.com/signup" rel="nofollow" target="_blank">Monthly Mailing List</a> Read the <a href="https://capitalallocatorspodcast.com/subscriptionsignup/" rel="nofollow" target="_blank">Transcript</a>

Max Frumes and Sujeet Indap –Inside the Sausage Factory of the Caesar’s Restructuring (Capital Allocators, EP.209)

Tobias Carlisle

Authors Max Frumes and Sujeet Indap on their new book The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street: https://amzn.to/3cFgNVJ From the blurb: It was the most brutal corporate restructuring in Wall Street history. The 2015 bankruptcy brawl for the storied casino giant, Caesars Entertainment, pitted brilliant and ruthless private equity legends against the world's most relentless hedge fund wizards.  In the tradition of Barbarians at the Gate and The Big Short comes the riveting, multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States Congress. On one side: Apollo Global Management and TPG Capital. On the other: the likes of Elliott Management, Oaktree Capital, and Appaloosa Management. ABOUT THE PODCAST Hi, I'm Tobias Carlisle. I've launched a new podcast called The Acquirers Podcast. The podcast is about finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations. We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success. SEE LATEST EPISODES https://acquirersmultiple.com/podcast/ SEE OUR FREE DEEP VALUE STOCK SCREENER https://acquirersmultiple.com/screener/ FOLLOW TOBIAS Firm: https://acquirersfunds.com/ Website: https://acquirersmultiple.com/ Twitter: https://twitter.com/Greenbackd LinkedIn: https://www.linkedin.com/in/tobycarlisle Facebook: https://www.facebook.com/tobiascarlisle Instagram: https://www.instagram.com/tobias_carlisle ABOUT TOBIAS CARLISLE Tobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®. He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, bus

Authors Max Frumes and Sujeet Indap on their new book The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street: <a href="https://amzn.to/3cFgNVJ" rel="nofollow" target="_blank">https://amzn.to/3cFgNVJ</a> From the blurb: It was the most brutal corporate restructuring in Wall Street history. The 2015 bankruptcy brawl for the storied casino giant, Caesars Entertainment, pitted brilliant and ruthless private equity legends against the world's most relentless hedge fund wizards. In the tradition of Barbarians at the Gate and The Big Short comes the riveting, multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States Congress. On one side: Apollo Global Management and TPG Capital. On the other: the likes of Elliott Management, Oaktree Capital, and Appaloosa Management. ABOUT THE PODCAST Hi, I'm Tobias Carlisle. I've launched a new podcast called <a href="https://acquirersmultiple.com/podcast/" rel="nofollow" target="_blank">The Acquirers Podcast</a>. The podcast is about finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations. We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success. SEE LATEST EPISODES <a href="https://acquirersmultiple.com/podcast/" rel="nofollow" target="_blank">https://acquirersmultiple.com/podcast/</a> SEE OUR FREE DEEP VALUE STOCK SCREENER <a href="https://acquirersmultiple.com/screener/" rel="nofollow" target="_blank">https://acquirersmultiple.com/screener/</a> FOLLOW TOBIAS Firm: <a href="https://acquirersfunds.com/" rel="nofollow" target="_blank">https://acquirersfunds.com/</a> Website: <a href="https://acquirersmultiple.com/" rel="nofollow" target="_blank">https://acquirersmultiple.com/</a> Twitter: <a href="https://twitter.com/Greenbackd" rel="nofollow" target="_blank">https://twitter.com/Greenbackd</a> LinkedIn: <a href="https://www.linkedin.com/in/tobycarlisle" rel="nofollow" target="_blank">https://www.linkedin.com/in/tobycarlisle</a> Facebook: <a href="https://www.facebook.com/tobiascarlisle" rel="nofollow" target="_blank">https://www.facebook.com/tobiascarlisle</a> Instagram: <a href="https://www.instagram.com/tobias_carlisle" rel="nofollow" target="_blank">https://www.instagram.com/tobias_carlisle</a> ABOUT TOBIAS CARLISLE Tobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®. He is best known as the author of the #1 new release in Amazon’s Business and Finance <a href="https://amzn.to/2EJH18v" rel="nofollow" target="_blank">The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market</a>, the Amazon best-sellers <a href="https://amzn.to/2VwvAGF" rel="nofollow" target="_blank">Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014)</a> (<a href="https://amzn.to/2VwvAGF" rel="nofollow" target="_blank">https://amzn.to/2VwvAGF</a>), <a href="https://amzn.to/2SDDxrN" rel="nofollow" target="_blank">Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012)</a> (<a href="https://amzn.to/2SDDxrN" rel="nofollow" target="_blank">https://amzn.to/2SDDxrN</a>), and <a href="https://amzn.to/2SEEjVn" rel="nofollow" target="_blank">Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016)</a> (<a href="https://amzn.to/2SEEjVn" rel="nofollow" target="_blank">https://amzn.to/2SEEjVn</a>). He has extensive experience in investment management, bus

Caesar's Coup: Max Frumes and Sujeet Indap on bankruptcy and vulture investing with Tobias Carlisle on The Acquirers Podcast

Today we speak to the authors of The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street https://tinyurl.com/caesarsbook This is where Oceans 11 meets Chapter 11 It was the most brutal corporate restructuring in Wall Street history. The 2015 bankruptcy brawl for the storied casino giant, Caesars Entertainment, pitted brilliant and ruthless private equity legends against the world's most relentless hedge fund wizards.   In the tradition of Barbarians at the Gate and The Big Short comes the riveting, multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States Congress. On one side: Apollo Global Management and TPG Capital. On the other: the likes of Elliott Management, Oaktree Capital, and Appaloosa Management.   The Caesars bankruptcy put a twist on the old-fashioned casino heist. Through a $27 billion leveraged buyout and a dizzying string of financial engineering transactions, Apollo and TPG—in the midst of the post-Great Recession slump—had seemingly snatched every prime asset of the company from creditors, with the notable exception of Caesars Palace. But Caesars’ hedge fund lenders and bondholders had scooped up the company’s paper for nickels and dimes. And with their own armies of lawyers and bankers, they were ready to do everything necessary to take back what they believed was theirs—if they could just stop their own infighting.   These modern financiers now dominate the scene in Corporate America as their fight-to-the-death mentality continues to shock workers, politicians, and broader society—and even each other.   In The Caesars Palace Coup, financial journalists Max Frumes and Sujeet Indap illuminate the brutal tactics of distressed debt mavens—vultures, as they are condemned—in the sale and purchase of even the biggest companies in the world with billions of dollars hanging in the balance.   Sujeet Indap is the U.S. editor of the Lex Column at the Financial Times, where he contributes stories across the paper. He has written extensively on the intersection of corporate finance and corporate law. Indap was previously an investment banker before he joined the Financial Times in 2013. He is a graduate of Pomona College and the Wharton School at the University of Pennsylvania. Indap lives in Manhattan, NY, with his wife.   Max Frumes leads a news team at Fitch Solutions covering corporate debt and restructuring. He previously was the founding editor of a leading publication covering corporate bankruptcy, and before that reported for S&amp;P’s Leveraged Commentary &amp; Data and The Deal. Frumes received his undergraduate degree from the University of California, Berkeley, and an MSJ from Northwestern’s Medill School of Journalism. He lives in Brooklyn with his wife and daughter.

Today we speak to the authors of The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street <a href="https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftinyurl.com%2Fcaesarsbook&amp;data=04%7C01%7CJHenningsen%40lockton.com%7C52a265e670174fa15cb908d8f9e2fc54%7Cf206620208c04832a4b47fa0855bb8ed%7C0%7C0%7C637534100586423561%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&amp;sdata=ugiUe%2F8%2B%2BiBaO76dMtoiAGg0xLy14vyyKcr8d16HBzo%3D&amp;reserved=0" rel="noopener nofollow" target="_blank">https://tinyurl.com/caesarsbook</a> This is where Oceans 11 meets Chapter 11 It was the most brutal corporate restructuring in Wall Street history. The 2015 bankruptcy brawl for the storied casino giant, Caesars Entertainment, pitted brilliant and ruthless private equity legends against the world's most relentless hedge fund wizards. In the tradition of Barbarians at the Gate and The Big Short comes the riveting, multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States Congress. On one side: Apollo Global Management and TPG Capital. On the other: the likes of Elliott Management, Oaktree Capital, and Appaloosa Management. The Caesars bankruptcy put a twist on the old-fashioned casino heist. Through a $27 billion leveraged buyout and a dizzying string of financial engineering transactions, Apollo and TPG—in the midst of the post-Great Recession slump—had seemingly snatched every prime asset of the company from creditors, with the notable exception of Caesars Palace. But Caesars’ hedge fund lenders and bondholders had scooped up the company’s paper for nickels and dimes. And with their own armies of lawyers and bankers, they were ready to do everything necessary to take back what they believed was theirs—if they could just stop their own infighting. These modern financiers now dominate the scene in Corporate America as their fight-to-the-death mentality continues to shock workers, politicians, and broader society—and even each other. In The Caesars Palace Coup, financial journalists Max Frumes and Sujeet Indap illuminate the brutal tactics of distressed debt mavens—vultures, as they are condemned—in the sale and purchase of even the biggest companies in the world with billions of dollars hanging in the balance. Sujeet Indap is the U.S. editor of the Lex Column at the Financial Times, where he contributes stories across the paper. He has written extensively on the intersection of corporate finance and corporate law. Indap was previously an investment banker before he joined the Financial Times in 2013. He is a graduate of Pomona College and the Wharton School at the University of Pennsylvania. Indap lives in Manhattan, NY, with his wife. Max Frumes leads a news team at Fitch Solutions covering corporate debt and restructuring. He previously was the founding editor of a leading publication covering corporate bankruptcy, and before that reported for S&amp;P’s Leveraged Commentary &amp; Data and The Deal. Frumes received his undergraduate degree from the University of California, Berkeley, and an MSJ from Northwestern’s Medill School of Journalism. He lives in Brooklyn with his wife and daughter.

The Caesar's Palace Coup, Max Frumes & Sujeet Indap