2009 Honorary Degree
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He received his bachelor's degree in industrial management with distinction from Purdue in 1973, then earned his MBA at Harvard Business School with high distinction and was named a Baker Scholar in 1975. Webster has been an entrepreneur, a venture capitalist and a leader in numerous business endeavors and companies. Currently, he is co-founder, co-managing partner and president of Avista Capital Holdings, which is based in New York and Houston.
An accomplished industry leader with universal respect from his peers, Webster's most appreciated contributions are the opportunities he afforded those who were part of his companies. He has co-founded or been a lead investor in numerous successful companies in the energy sector, including Carrizo Oil and Gas, Falcon Drilling, Grey Wolf, Hercules Offshore, Laredo Energy, Peregrine Oil & Gas and Union Drilling.
Webster's foresight to enter the energy business in the 1980s when much of the "smart money" was getting out resulted in him building an offshore drilling company with a market value of about $1.6 billion prior to its merger with Reading & Bates Corp. With a $300,000 investment, he founded Falcon Drilling Co. and served as its chairman and CEO from 1988 to 1997. Webster also was president and CEO of R&B Falcon through 1999.
From 2000 to 2005, he was chairman of DLJMB Global Energy Partners, a specialty group within DLJ Merchant Banking that sourced, executed and managed its energy-related investments. In 2005, Webster co-founded Avista Capital Partners, a leading private equity firm that invests primarily in growth-oriented media, healthcare and energy companies.
In addition, he has been a lead investor in companies outside of the energy sector, including Crown Resources, Dayton Scott Equipment Co., Encore Bancshares, RediClinic LLC and Savage Arms Corp. Webster also was a founding trust manager of Camden Property Trust.
While raising four children with his wife Linda, he has contributed generously to his community of Houston. In addition, the Websters are avid supporters of Purdue, and the university has recognized their generous contributions with the Business Leadership and the President's Council Pinnacle awards. Webster has served the Krannert School of Management as a member of its Dean's Advisory Council since 1998, was recognized as one of its Distinguished Alumni and has been a featured speaker at Krannert's Executive Forum.
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