Art Wrubel

Last updated
Art Wrubel
Born
Arthur Mitchell Wrubel

1965 (age 58–59)
NationalityAmerican
EducationB.S. University of Pennsylvania
OccupationPrivate equity investor
Known forFounder of Wesley Capital Management
Minority owner of the Philadelphia 76ers

Arthur Mitchell Wrubel (born 1965) is an American private equity investor who founded Wesley Capital Management, LLC and is a minority owner of the Philadelphia 76ers of the National Basketball Association. [1]

Contents

Early life and education

Wrubel was born to a Jewish family, the son of Marcia Kay (née Pinkus) and Richard Isaac Wrubel. [2] His family operated the Wrubels department store in Middletown, Connecticut, founded by his great-grandparents, Regina (nee Glasscheib) and Isaac Wrubel. [3] His great-uncle was composer and songwriter Allie Wrubel. In 1983, Wrubel graduated from Xavier High School in Middletown [4] and in 1987, he graduated with a B.S. in Economics from the Wharton School at the University of Pennsylvania [1] where he was a member of the Sigma Alpha Mu fraternity. [5]

Career

After school, he worked for Chicago-based JMB Realty as an associate in their acquisition group. In 1993, he took a job with Dickstein & Co. where he focused in real estate, asset backed securities, and real estate corporate restructurings [1] and was involved in some of the largest real estate restructurings including those of including Olympia & York, Cadillac Fairview, Rockefeller Center Properties, Bramalea, and Trizec Properties. [6] In 2001, he ventured out on his own and founded Wesley Capital Management, LLC, [1] a real estate focused hedge fund. [7] Wrubel is a member of an investment group that won a $280 million bid for the purchase of the Philadelphia 76ers from Comcast Spectacor in 2011. The other members of the investment group are: Josh Harris, managing partner of the group and co-founder of private equity firm Apollo Global Management and David Blitzer of the private equity firm Blackstone Group, both fellow Wharton School of the University of Pennsylvania graduates, [8] as well as former NBA agent and Sacramento Kings executive Jason Levien, former Vail Resorts CEO Adam Aron, Martin J. Geller, David B. Heller, Travis Hennings, James Lassiter, Marc Leder, Michael Rubin, Will Smith & Jada Pinkett Smith, and Indonesian businessmen Handy Soetedjo & Erick Thohir. [9] Comcast-Spectacor and Harris began talks in the summer of 2011. The deal was announced on July 13, 2011. [10] The NBA formally approved the deal on October 13. [11]

Additional affiliations and memberships

Wrubel is a member of the Board of Advisors at Mount Sinai Hospital’s, on the Board of Trustees at the Jewish Museum in Manhattan, and is on the Wharton Undergraduate Board at the University of Pennsylvania. Wrubel is also on the Advisory Board of Maxim Capital Group. [1] [6] He and his wife are strong supporters of the Jonah Maccabee Foundation, which provides grants to organizations that provide charity, promote music, or support Jewish causes. [12]

Personal life

He is married to Melanie Bloom. [13]

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References

  1. 1 2 3 4 5 Bloomberg: "Arthur Mitchell Wrubel" retrieved May 19, 2015
  2. ↑ "Pinkus—Wrubel". The New York Times . November 1, 1964.
  3. ↑ Hubbard, Robert and Kathleen (April 14, 2014). Legendary Locals of Middletown. Arcadia Publishing. p. 18. ISBN   9781467101202.
  4. ↑ Xavier High School: "Art Wrubel `83 in Partnership to Purchase NBA Team" [ permanent dead link ] July 13, 2011
  5. ↑ Theta Chapter, Sigma Alpha Mu Fraternity Archived 2015-03-06 at the Wayback Machine July 2014 Vol. 1, No. 1
  6. 1 2 Maxim Capital Group: "Advisory Board" retrieved May 19, 2015
  7. ↑ The Pennsylvania Gazette: "Can Some Quakers Save the Sixers" April 2012
  8. ↑ Philadelphia Inquirer: "Those who know him say Joshua Harris, soon-to-be Sixers owner, lives for competition and success" By Kate Fagan August 02, 2011
  9. ↑ ESPN: "Group led by Joshua Harris completes purchase of Sixers" Archived 2013-10-18 at the Wayback Machine October 18, 2011
  10. ↑ Sale of 76ers to Joshua Harris finished. ESPN, 2011-07-13.
  11. ↑ Group led by Joshua Harris completes purchase of 76ers Archived 2013-10-18 at the Wayback Machine . Philadelphia 76ers, 2011-10-13.
  12. ↑ The Jonah Maccabee Foundation retrieved May 19, 2015
  13. ↑ University of Pennsylvania Bulletin: "Men and Women of Pennsylvania - Arthur M. Wrubel, W'87, and Melanie Bloom Wrubel" retrieved May 19, 2015
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