Lenard Tessler
Retired Vice Chairman
Lenard Tessler is the retired Vice Chairman of Cerberus Capital Management. For nearly two decades, Mr. Tessler, who was the first employee of the firm’s private equity team, helped build Cerberus’ private equity practice into a leading platform which invests across industries and geographies.
As part of the Cerberus management team, Lenard led some of the firm’s largest and most significant transactions. He served on the board of directors of several Cerberus portfolio companies, including as Lead Director for Albertsons Companies, one of the largest grocery retailers in the United States. He also served on the Board of Keane Group, Inc. where he oversaw the merger of what is now NexTier Oilfield Solutions. He served as Chairman of the Board of Directors of Ally Financial (formerly GMAC) during its transition to a bank holding company and was responsible for the investment in Alamo National Car Rental, which sold to Enterprise Car Rental. He was a director of both Chrysler Financial and Avon companies, his terms culminating in their sales to TD Bank Financial and Natura & Co. respectively. Mr. Tessler was also responsible for the acquisition, restructuring and public offering of the Austrian bank BAWAG, the largest public offering in Austrian history.
Prior to joining Cerberus, Mr. Tessler co-founded various investment firms including TGV Partners, a private equity firm where he served as Managing Partner for 11 years. He was also a founding partner of the leveraged buyout firm Levine, Tessler, Leichtman & Co. and separately, Walker Energy Partners, where he was a director and Executive Vice President.
Mr. Tessler currently serves as strategic advisor and Board of Directors observer for Covariance Labs Inc. as well as sitting on the Advisory Board of Allegiant Partners. He is Chairman of the Board of Directors for Best Egg.
Mr. Tessler and his wife, Fern, are actively involved with the New York-Presbyterian Hospital, where Lenard is a trustee and a member of the organization’s Investment Committee and Finance Committee. The Tesslers are also deeply committed to the Whitney Museum of American Art, where Fern Tessler is President of the Board of Trustees.
Mr. Tessler was honored for his philanthropic contributions by the Horatio Alger Association, a non-profit educational organization, and inducted into the Horatio Alger Society in 2017.
Mr. Tessler holds a B.A. from the University of Miami and an M.B.A. from Fairleigh Dickinson University.
As part of the Cerberus management team, Lenard led some of the firm’s largest and most significant transactions. He served on the board of directors of several Cerberus portfolio companies, including as Lead Director for Albertsons Companies, one of the largest grocery retailers in the United States. He also served on the Board of Keane Group, Inc. where he oversaw the merger of what is now NexTier Oilfield Solutions. He served as Chairman of the Board of Directors of Ally Financial (formerly GMAC) during its transition to a bank holding company and was responsible for the investment in Alamo National Car Rental, which sold to Enterprise Car Rental. He was a director of both Chrysler Financial and Avon companies, his terms culminating in their sales to TD Bank Financial and Natura & Co. respectively. Mr. Tessler was also responsible for the acquisition, restructuring and public offering of the Austrian bank BAWAG, the largest public offering in Austrian history.
Prior to joining Cerberus, Mr. Tessler co-founded various investment firms including TGV Partners, a private equity firm where he served as Managing Partner for 11 years. He was also a founding partner of the leveraged buyout firm Levine, Tessler, Leichtman & Co. and separately, Walker Energy Partners, where he was a director and Executive Vice President.
Mr. Tessler currently serves as strategic advisor and Board of Directors observer for Covariance Labs Inc. as well as sitting on the Advisory Board of Allegiant Partners. He is Chairman of the Board of Directors for Best Egg.
Mr. Tessler and his wife, Fern, are actively involved with the New York-Presbyterian Hospital, where Lenard is a trustee and a member of the organization’s Investment Committee and Finance Committee. The Tesslers are also deeply committed to the Whitney Museum of American Art, where Fern Tessler is President of the Board of Trustees.
Mr. Tessler was honored for his philanthropic contributions by the Horatio Alger Association, a non-profit educational organization, and inducted into the Horatio Alger Society in 2017.
Mr. Tessler holds a B.A. from the University of Miami and an M.B.A. from Fairleigh Dickinson University.