Paul Kazarian

Paul B. Kazarian ( ; born October 15, 1955) is an Armenian-American investor, philanthropist, and former investment banker. He is the founder, managing director and chief executive officer (CEO) of Japonica Partners, a private equity hedge fund. Previous to his founding of the firm, he was an investment banker for Goldman Sachs and briefly served as the president and CEO of Sunbeam-Oster from 1990 to 1993 as a corporate raider.

He is known for his bidding wars with high net worth individuals and companies to gain assets for his firm, most notably his bidding war against Kohlberg Kravis Roberts (KKR) for the acquisition of Borden. Kazarian is seen to be secretive about current or future investment decisions; he opens and closes positions without prior announcement or much after-trade commentary.

During the 2013 Greek government-debt crisis, Kazarian become one of the largest bidders for Greek bonds, eventually executing a bond portfolio of €2.9 billion (US$3.8 billion). On December 11, 2017, it was reported that Kazarian opened an office branch in Lisbon, Portugal tasked with "snapping up assets" in the country's real estate and technology markets.

Early life and education Paul B. Kazarian was born on October 15, 1955, the son of immigrants from Armenia. His grandparents were Charles and Agnes Kazarian; both of them escaped the Armenian genocide. Kazarian grew up in an Armenian community in Pawtucket, Rhode Island–a small mill town— and would go on to name his future investment fund after the street he grew up on: Japonica Street–the name of a Japanese flower. During nights at Columbia, he interned at Goldman Sachs, after-which he was offered a full-time position at the firm in their investment banking division.

Investment career

Goldman Sachs & Co. In 1981, Kazarian was hired as a full-time investment banker at Goldman Sachs & Co. While at Goldman he worked with multinational investment clients and emerging markets. He often stayed up past 4 AM competing work during his time at the firm.

Sunbeam coup In 1990, Kazarian, then 37, was asked to serve out a three-year term as chairman and CEO of Sunbeam-Oster, after his private equity firm bought it out in a corporate raid. During his tenure he brought the company back from the verge of bankruptcy and created multiple profit streams for the company, ultimately returning it to profitability. His time as head of the company is used as a case study at Harvard Business School; Steven Fenster, a professor at Harvard University, has been quoted as labeling Kazarian as "a mad genius" with "incredible" business acumen. The government agreed to execute the trade at market price and purchased his partial bond portfolio. He is known for buying out, taking over, or taking a position in distressed companies that face serious financial uncertainty–in an effort to buy at a discount–eventually making them profitable before selling. He resides in a home in Providence, Rhode Island. Kazarian is known for his "round, horn-rimmed glasses" that have become his "trademark".

Kazarian has guest-lectured and spoken on the topics of business and philanthropy in settings ranging from the Harvard Business School, London Business School, Columbia Business School, and Dartmouth's Tuck Business School, to the U.S. Military Academy at West Point, and the National School of Development at Peking University.

Political and economic views Although Kazarian has not disclosed his own political affiliations, he has publicly commented on numerous issues.

Views on Greek financial stability After his $3 billion government-debt rate he has commented on the need for financial and economic reform in Greece following the 2013 Greek government-debt crisis. He has called for the country to appoint a "five-star finance minister" with "international-caliber five-star specialist training and capabilities to build trust and credibility." he notes government bonds as being profitable—contrary to reports by the Bloomberg's World Bond Index. He believes that "the Greek debt should be measured not at face value, which is 312 billion euros in 2015, but on a time of repayment basis, which would bring a substantial write-off due to low interest rates and the fact that its repayment will start in 10 years."

Mario Draghi Kazarian has mentioned that Mario Draghi, the president of the European Central Bank, faces too much pressure from "the inaction and inability of politicians" which minimizes the efficiency and effectiveness of the eurozone. He asserts the numerous "badly managed" European governments have rendered the office of the E.U. Central Bank politically pressured.

Wealth and philanthropy During the 2013 Greek government-debt crisis, Kazarian made an official public offer to the government of Greece of a bond portfolio of 2.9 billion euros (approximately US$3.8 billion), and the government agreed to execute the trade, paying Kazarian full market price for his bonds. The second, The Kazarian Foundation, furthers similar goals. It announced a Knowledge Partnership with American India Foundation as part of a Knowledge Partnership initiative.

Kazarian was also committee chairman for a 2010 Singapore Heritage Celebration and on January 10, 2011, Kazarian delivered the opening address for a Knowledge Partnership for the Ministry of Foreign Affairs and the Singapore Cooperation Programme. Kazarian is involved with the Asia Society, for which co-chaired the 2011 Awards Dinner. He also chaired the American India Foundation's fifth annual Spring Awards Gala on April 30, 2008 in New York City.