Tony Ressler

Tony Ressler
Born	(1960-10-12) October 12, 1960 (age 64) Washington D.C., U.S.
Education	Georgetown University (BSFS) Columbia University (MBA)
Occupation(s)	Businessman, investor, hedge fund manager, investment banker
Known for	Co-founder of Apollo Management; co-founder of Ares Management; minority owner of the Milwaukee Brewers; principal owner of the Atlanta Hawks
Spouse	Jami Gertz ​ (m. 1989)​
Children	3
Relatives	Debra Black (sister) Leon Black (brother-in-law)

Antony P. Ressler (born October 12, 1960) is an American billionaire businessman. He co-founded the private equity firms Apollo Global Management in 1990,^[1] and Ares Management in 1997.^[2] As of May 2024, his net worth was estimated by Forbes at $11.3 billion.^[3]

Biography

Ressler was born in 1960 to a Jewish family,^[4][5] one of five children of Dorothy and Ira Ressler.^[6] His father was an attorney and World War II veteran.^[6] Ressler earned a BSFS from Georgetown University's Walsh School of Foreign Service and an MBA from Columbia Business School.^[7] After graduating, 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.^[7]

In 1990, on the heels of the collapse of Drexel Burnham Lambert, he co-founded the private equity firm Apollo Global Management 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, all of whom worked under Black in the mergers and acquisitions department.^{[8][9][10][11]} 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.^[12]

Philanthropy

Ressler is a member of the executive committee of the board of directors of the Cedars-Sinai Medical Center; finance chair and member of the executive committee of the Los Angeles County Museum of Art; a board member of Campbell Hall Episcopal School in Studio City, California; and 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. Ressler is a supporter of military veterans through the work of The Greatest Generations Foundation.^[7]

Sports

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.^[13]

Since June 2015, he has been the principal owner of the NBA Atlanta Hawks basketball team, when he purchased the team for an estimated US$730 million.^[14] It was ultimately sold to him for $850 million.^[15][16]

To purchase the Hawks, Ressler formed a group that includes former NBA player Grant Hill, Sara Blakely, Jesse Itzler, Steven Price, and Rick Schnall.^[17][18]

Personal life

On June 16, 1989, he married actress Jami Gertz.^[4][19][20] They live in Los Angeles,^[3] and have 3 sons. Gertz-Ressler High Academy, a member of Alliance College-Ready Public Schools, is named after the couple.^[21] They are members of the Wilshire Boulevard Temple.^[4]

Ressler's sister, Broadway producer Debra Ressler, is married to Apollo co-founder Leon Black.^[22] His brother, Richard Ressler, is a principal and founder of CIM Investment management.^[23]

References

1. Arash Massoudi (April 1, 2014). "Ares hopes to raise $500m in IPO". Financial Times.
2. "People:Ares Management LP (ARES.K)". Reuters. Retrieved February 18, 2015.
3. "Forbes profile: Antony Ressler". Forbes. Retrieved 15 May 2024.
4. 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
5. Atlanta Jewish Times: "Jewish Investor Buying Hawks" by David R. Cohen April 29, 2015
6. New York Times: "Paid Notice: Deaths RESSLER, IRA RICHARD" October 29, 2000
7. Ares Management website: "Tony Ressler - Senior Partner Archived 2012-11-05 at the Wayback Machine retrieved August 20, 2013
8. Ex-Drexel Executives Arrange Aid for Fruit of the Loom, August 24, 1990
9. Changes at Drexel Continue. New York Times, March 11, 1989
10. Drexel's Uncertain Future. New York Times, October 15, 1989
11. Drexel Divided on Settlement. New York Times, December 17, 1988
12. Ares Management to Take New Fund Public. Los Angeles Times, April 22, 2004
13. Milwaukee Journal Sentinel: "Two Investors from L.A. in on deal" by Don Walker April 27, 2005
14. Bloomberg: "NBA Governors Approve $730 Million Hawks Sale to Ressler's Group" By Scott Soshnick and Zeke Faux June 24, 2015
15. "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.
16. Atlanta Hawks Selling for $850 Million. The Wall Street Journal. Ben Cohen. April 22, 2015. accessed February 9, 2016
17. Arnovitz, Kevin (April 22, 2015). "Hawks to be sold for nearly $850M to Antony Ressler-led group". ESPN.com. Retrieved April 22, 2015.
18. NBA: "Group Led By Tony Ressler Completes Purchase of Atlanta Hawks" June 25, 2015 | "Other investors include seven-time NBA All-Star Grant Hill, who will serve as Vice Chair of the Board, Townsquare Media Chair and CEO Steven Price, Clayton Dubilier & Rice partner Rick Schnall, and Spanx founder Sara Blakely and Marquis Jet co-founder Jesse Itzler, who are married"
19. "The 15 Most Charitable Celebrities in Hollywood". gotgravy.com. May 2, 2018. Retrieved September 9, 2018.
20. "Hawks representative Jami Gertz had a great reason for being at the NBA lottery". The Washington Post. May 16, 2018. Retrieved September 9, 2018.
21. Almendrala, Anna (15 June 2011). "'A Better Life' Hits Home For Inner-City Students At Movie Screening (VIDEO)". Huffington Post. Retrieved 15 November 2011.
22. Bloomberg: "Leon Black Loses to Carl Icahn as Apollo Sets New Credit Terms" By Anthony Effinger & Cristina Alesci July 7, 2010
23. Huffington Post: "Tony and Richard Ressler" retrieved August 20, 2013