Mario Baeza

Later that year, Baeza became a founding member of the Cuba Task Force, as well as other Cuba-related projects of the Council on Foreign Relations, Inc. The Task Force was formed at the behest of President Clinton to conduct an independent bipartisan high level review of Cuba policy and to make recommendations for the future. Baeza was a contributor to the Task Force’s Report entitled, “U.S.-Cuban Relations in the 21st Century,” and participated in several high level delegations to discuss Cuba policy with Pope John Paul II in the Vatican following his historic visit to Cuba, and with the top leadership in Cuba in a delegation headed by David Rockefeller. In 2002, Baeza was invited as a fully hosted guest of the Cuban Government to give a series of lectures to the top senior managers of Cuban enterprises. Topics included, “Understanding Capital and its Allocation in Free Market Economies”, “How to Value Enterprises in Non-Market Economies,” and “Identifying Dead Capital and Driving Capital Efficiency in State-Owned Enterprises.” Baeza has been a long time Board member of the Cuban Artist Fund, a non-profit organization founded in 1998 and dedicated to supporting artists from Cuba with grants and other resources and to presenting and developing the market for artistic work by Cuban artists in New York City, often as part of cultural exchange programs. Baeza was the Chairman of the Fund’s capital campaign committee.

Baeza has been featured or profiled in major publications including The New York Times, Wall Street Journal, American Law Journal, New York Law Journal, New York Post, New York Magazine and New York Daily News. He has been featured as one of “The 100 Most Powerful Latinos” by Poder magazine, one of “The 100 Influentials” by Hispanic Business Magazine, one of “VIVA’s Most Influential Latinos” by New York Daily News. Among his many awards, Baeza has received the “Individual Achievement Award” (Hispanic Federation, 2004); “Nielsen Media Research Award” (Nielsen, 2004-2005); “Latino Executive of the Year” (The New York Knicks, 2007); the “SEO Corporate Leadership Award” (SEO, 2010); the Virtuoso Award (Dance Theater of Harlem, 2015); and the 1st Gala Honoree at the Caribbean Cultural Center African Diaspora Institute (CCCADI, 2015).

He is currently the Founder and CEO of Tropix Media & Entertainment, a Cuba-focused, production and distribution company that in 2016 entered into an historic agreement to preserve the cultural legacy of the Cuban people by digitalizing the entire audiovisual and radio archives of Cuba consisting of over 500,00 hours of programming. Baeza was also the Founder and former Executive Chairman of V-Me Media Inc., a national Spanish language television network distributed through the digital channels of public television affiliate stations; the Chairman and CEO of Tropix Holdings, LLC, a Cuba-focused merchant-banking firm formed to make legally authorized investments in a variety of sectors in Cuba, pending the complete lifting of the U.S. embargo; and the Founder and CEO of AJM Records, LLC, an independent record label that launched the career of Grammy Awards winning recording artist, “Ashanti”.

In 2015, Baeza founded Tropix Media & Entertainment, a CUBA-focused, data driven, content creation, production and distribution company. In 2016, Tropix Media & Entertainment entered into an historic agreement with RTVComercial, the commercial arm of Cuba’s Institute of Radio & Televisión, pursuant to which Tropix was entrusted to digitize and commercialize over 500,000 hours of Cuba’s audiovisual patrimony. This groundbreaking agreement confers not only rights and benefits, but also an enormous responsibility to serve as stewards of the Cuban people’s most cherished memories and defining moments.

In 2015, Baeza completed serving his third term as the Chairman of the Upper Manhattan Empowerment Zone (UMEZ), the largest and most successful Empowerment Zone entity in the United States. Funded in equal parts by the Federal Government, the State of New York and the City of New York, UMEZ has used its $250 million in capital commitments to invest over $200 million in non-residential commercial real estate development projects. UMEZ's investments are primarily in the form of mezzanine and equity financing and it was also authorized to provide up to $150 million of tax-exempt bond financing for large projects. Despite the complexities and additional risks attendant to investing in underserved urban markets, through strict adherence to investment policies and careful underwriting and monitoring, not a single real estate investment of UMEZ has required a write-down due to impairment. Today, UMEZ is widely credited with serving as the catalyst for the repositioning of Harlem as an attractive investment area and for ushering in the "New Harlem Renaissance."

In 2015, Baeza formed Tropix Media & Entertainment

Baeza is a former 14-year member of the Board of Directors of Air Products and Chemicals, Inc. (NYSE:ADP), where he was a member of the Executive Committee and the Compensation Committee and chaired the Nominating and Corporate Governance Committee, as well as the Environmental and Public Safety Committee; he was the Lead Director of Tommy Hilfiger Corporation (NYSE:OM), until he led its successful sale to a private equity firm. Baeza was also a 15-year member of the Board of Directors of the Ariel Mutual Funds Complex, one of the largest minority-owned asset management firms in the United States and consistently one of the top-rated small and mid-cap money managers in the country. Baeza was also a member of the Board of Brown Shoe Company, Inc. (renamed Caleres, Inc. in 2015) (NYSE:CAL). Baeza is a member of the Council on Foreign Relations, Inc. (former member of the Board).

In 2014, Baeza was invited to become a founding member of the Cuban Studies Program Advisory Board at the David Rockefeller Center for Latin American Studies at Harvard University. Baeza joins several key influencers, including renowned historian, Professor Alejandro de la Fuente. Among the Center’s numerous accomplishments is the 15 years of continuous work encouraging novel and interdisciplinary programs and activities in and on Cuba.

In 2012, Baeza Co-Produced the critically acclaimed movie, “Musical Chairs,” which premiered on HBO in 2013 after being a popular selection for major film festivals around the world. In 2013, Baeza Co-Executive Produced the family-oriented feature film, “Tio Papi,” as well as the low budget thriller, “36 Saints,” which was released on Halloween 2013.

In 2010, Baeza was appointed a member of The New York State Council of Economic and Fiscal Advisors whose purpose was to guide then newly-elected New York State Governor Andrew Cuomo’s thinking on the budget and offer objective advice on the formation of economic and budget policy during and after the transition.

Baeza is the author of numerous articles in both scholarly magazines, including the Harvard Law Review, and industry journals, as well as the contributor to chapters in several books (see: Selected Speeches and Publications). In 2010, he completed a White Paper entitled, “The Latino Educational Crisis: Towards a New Approach to Preparing Latino Children for Success in School and in Life.” In 2012, Baeza co-authored with Dr. Debra Lieberman, a white paper for Sitio Saludable entitled, “Entertainment-Education Model: Strategies for Health Behavior Change Based on Current Theory and Evidence.” In 2012, Baeza was chosen to deliver the keynote address at the Second Celebration of Latino Alumni at Harvard Law School. In 2020, [1] Baeza was honored for his lifelong achievements and contributions to the New York City Bar Association.]

In 2009, Baeza formed Tropix Holdings, LLC, a merchant-banking firm dedicated to making U.S. authorized legal investments in Cuba, pending the complete lifting of the U.S. Embargo. Tropix’ Management Team included non-U.S./non-Cuban persons who had substantial investment and operating experience in Cuba, as well as U.S. members who are expert in telecommunications, alternative energy, agricultural trading, real estate development, and the wholesale and retail distribution of home improvement and construction materials and supplies. Baeza is the Chairman and CEO of Tropix Holdings, LLC.

In 1998, aeza became a founding Board member and a member of the investment committee of Urban America Fund I, a $121 million value-add real estate private equity fund. The focus of the fund was low to moderate income urban areas where commercial buildings and developments could be remodeled based on pre-leases from AA-rated tenants that were seeking more up-to-date rental space in that urban area. The fund also provided take-out financing for real estate developers based on satisfactory project completion and attainment of a base occupancy level. Urban America Fund I realized investments generated an average IRR of 21.7% through June 30, 2009, the expiration date of the term of the fund.

In 2006, after six years of work, The Baeza Group partnered with WNET/Thirteen, the flagship PBS affiliate station, to form V-Me Media, Inc., a national Spanish-language television network distributed through the digital channels of 40 public television affiliate stations and carried on all major cable and satellite systems. The channel officially launched on March 6, 2007 in 18 million U.S. homes and in 2012 reached over 82 million U.S. homes, including 80% of all Hispanic households in the country. Baeza served as V-Me's Founder and Executive Chairman until 2012 when he stepped down in order to devote his full-time efforts to forming and launching Tropix Holdings, LLC. (See “Law, Investment and Merchant-Banking, Private Equity,” above). However, The Baeza Group-V-Me Partners, LLC retains a significant equity interest in V-Me.

In 2004, Baeza was a U.S. Congressional Appointee to the Independent Task Force in TV Measurement, which was created to review and analyze Nielsen Media Research's recruitment and sampling methodologies, with a particular focus on their impact on people of color. The Task Force's groundbreaking report and recommendations were accepted wholesale by Nielsen and changed Nielsen's approach to doing business in African-American, Latino and Asian communities.

In 2003, Baeza formed The Baeza Group (“TBG”), a Hispanic-owned alternative investment firm specializing in the management of private equity investments targeting the U.S. Hispanic market and hedge fund products centered around global macro strategies. In 2004, TBG partnered with WNET/Thirteen to develop a PBS-quality Spanish language Television Network (see “Media and Music,” below).

In 2003, Baeza was appointed by New York City Mayor Michael Bloomberg to serve as Co-Chair and then Chair of the New York City Latin Media and Entertainment Commission. The Commission had as its objective to make New York City once again the Latin media and entertainment capital of the world. The Commission included prominent Latino and media industry leaders in New York and had a record of notable successes. Jennifer Lopez and Robert DeNiro served as Honorary Chairs of the Commission.

In 2000, Baeza formed AJM Records, LLC, an independent record label that signed and successfully launched the career of Ashanti in a joint venture with Universal/Def Jam/Murder Inc. Records. Ashanti's first album sold over 5 million records, received numerous Grammy nominations and a Grammy for best female R&B vocal performance, five American Music Awards and 3 Billboard Awards. She also was entered into the Guinness Book of Records for being the first female artist to have five songs in the Billboard Top Ten Pop Charts at the same time, a feat equaled only by the Beatles. In 2004, AJM Records and Baeza Music Publishing were awarded two ASCAP awards for singles released on Ashanti's second album. In 2007, AJM Records released the soundtrack to a feature film entitled, “Downtown–A Street Tale”, featuring performances by Irene Cara and an original theme song performed by Dame Petula Clark and written by Baeza entitled, "Children of Color."

In 1996, Baeza & Co. entered into a partnership with Trust Company of the West (“TCW”), a global asset manager with approximately $100 billion under management at that time, for the purpose of forming TCW/Latin America Partners ("TCW/LAP"). Led by Baeza & Co., in 1997 TCW/LAP raised $300 million in committed funds and thereby became one of the pioneering Latin America-focused private equity funds. Baeza & Co. provided the entire management team for TCW/LAP and the anchor investors for the funds TCW/LAP managed. Mario L. Baeza served as Chairman and CEO of TCW/LAP from its inception until 2003 and as Chairman until 2006. TCW/LAP made controlling investments in Brazil, Argentina and Mexico in the food, telecom, financial services, retail beauty products, home construction materials and supplies, and the distribution and logistics sectors.

In 1994, Baeza founded Baeza & Co., which was formed in order to create the first U.S. Hispanic-owned merchant banking firm focusing on the Pan-Hispanic region. From 1994 to 1996, Baeza was a Managing Partner of Wasserstein Perella, President of Wasserstein Perella International Limited and Chairman and CEO of Grupo Wasserstein Perella, a Latin America focused joint venture between Baeza & Co. and Wasserstein Perella.

In 1994, Baeza founded, Hillside Broadcasting Corp., which acquired a controlling interest in WWAY-TV (Wilmington, N.C.) and KSLA-TV (Shrevesport, La.), both ABC television station affiliates, and significant interests in WKRS (FM) and WOR (AM) radio stations in New York City. All properties were later sold at substantial premiums to their acquisition costs.

Baeza has had a long and successful career in media. In 1992, Baeza, together with Wynton Marsalis, Gordon Davis, Albert Murray and Nat Leventhal, co-founded Jazz@Lincoln Center, which became a full constituent of Lincoln Center co-equal with the Metropolitan Opera, New York Philharmonic and American Ballet Theatre. In 2004, Jazz@Lincoln Center moved to its new home in the Time-Warner Center after a successful $130 million capital campaign, the largest for Jazz music in history. Led by Wynton Marsalis, the Lincoln Center Jazz Orchestra has become the most celebrated Jazz orchestra of its day, and the organization's educational and outreach programs (for which Baeza served as the Board’s founding program committee chair) have become role models for other arts organizations.

In 1992, Baeza was chosen by President Clinton as his first choice for the post of Assistant Secretary of the Department of State for Inter-American Affairs. At that time, this was the highest position ever offered to a Cuban in U.S. history. However, after a vicious campaign of opposition to his appointment led by Mas Canosa and the extreme right-wing Cuban American National Foundation, President Clinton reconsidered and offered Baeza a variety of alternate positions, including Ambassador to Spain, Ambassador to Mexico, Vice-President of the International Development Bank, Chairman of the U.S. Securities and Exchange Commission and General Counsel and Senior Policy Advisor of the Department of Treasury. Baeza decided not to enter the administration of President Clinton because he wished to serve in government only if it were in a position as to which he felt passionate and uniquely qualified to undertake, as was the case with Assistant Secretary for Inter-American Affairs.

Baeza has had a long association with Cuba since he left Cuba with his immediate family at the age of seven. In 1991, Baeza formed the Cuba Study Group as part of his activities as Head of the Latin America Group of Debevoise & Plimpton. The Cuba Study Group developed significant expertise concerning legal issues pertaining to doing business with Cuba and gained insights into the Cuban economy and political structures.

From 1974 to 1994, Baeza was an associate and then, at the age of 29, became a partner of the international law firm, Debevoise & Plimpton. He became the leading expert in the country on the use by corporations of employee stock ownership plans (ESOPs) as a novel means to align the interests of employees with the interest of the corporation’s stockholders, and as defensive tools in hostile takeovers. He was also the first Black or Latino to start as an associate in a major New York law firm and rise through the ranks to full partnership.

At the age of seven, Mario Baeza emigrated to the United States with his family from Guanabacoa, Cuba, four months before Fidel Castro came to power. He graduated Phi Beta Kappa in three years from Cornell University in 1971 (triple major, honors and distinctions in all subjects), and earned a Juris Doctor from Harvard Law School in 1974.

Mario L. Baeza (born January 22, 1951) is a Cuban-American corporate lawyer, investment and merchant banker, entrepreneur, professional musician, producer/composer and philanthropist.