On September 15, 2008, Lehman Brothers went bankrupt. While Lehman was ultimately acquired by Barclays, it’s merchant banking division was broken out to form Trilantic Capital Partners.
In the below video, offered in partnership with Privcap, Charlie Ayres tells the story of how Lehman Brothers Merchant Banking spun out of its parent in the midst of a chaotic bankruptcy, including a scramble to secure capital calls necessary to ensure it’s survival. Despite the fiasco, Ayres explains, “This was quite a tragedy on a lot of levels. I remain respectful of senior management of Lehman Brothers and this was something well beyond just [one bank].”