Hints and tips:
...Guy Hands, one of the UK’s best-known private equity executives, is stepping down as chief investment officer and chair at Terra Firma Capital Partners....
...At Terra Firma, this means we are not going to sponsor any fund, or any deal, unless we can put at least 10% of our own money into it....
...The list of European buyout houses struggling to hit their fundraising targets includes such eminent names as Terra Firma, Permira, Apax Partners and 3i....
...Terra Firma bought The Garden Centre from Lloyds, which was advised by Rothschild on the sale....
...But others, such as UK private equity groups Terra Firma and Duke Street, have delayed or abandoned efforts to raise funds....
...Terra Firma, the UK-based buyout house run buy Guy Hands, on Monday announced a wind energy company it took over in 2009 was itself buying a 150MW project in California....
...He also spent two years with Hicks, Muse, Tate & Furst as chief executive of Hillsdown Holdings, followed by eight years as an operational managing director at Terra Firma – the UK-based buyout group run...
...When Citigroup took control of EMI from its private equity owner Terra Firma last year and sold its music publishing business to a group led by Sony, much of the finance came from GSO, the credit arm of...
...This would enable Terra Firma to keep doing deals after the investment period of its buy-out fund runs out next year and until it can raise another full fund....
...But interested parties have been told they will be given a presentation on the “Terra Firma situation”....
...Terra Firma and EMI declined to comment....
...Citigroup, which backed Terra Firma’s ill-fated buy-out of EMI, could get offers on October 5 in the $1.1bn-$1.5bn range for the group’s recorded music business and $2bn-$2.5bn for its publishing arm, people...
...Bidders believe that Citigroup, which seized the indebted company from Mr Hands’ Terra Firma group in February, would prefer to sell EMI in one piece but could separate its recorded music and publishing...
...● Michael Hewett is moving from Terra Firma Capital Partners to Strategic Value Partners where he will be responsible for business development in Europe and the Middle East....
...Firma....
...In recent years, the highest-profile example of an overexposed private equity group is Terra Firma, the buy-out vehicle of Guy Hands, the financier, which put a third of its last two funds into EMI, the...
...Citigroup, which seized control of EMI from Mr Hands’ Terra Firma group this year, is expected to pursue an auction of the UK music group in months....
...The bank seized the company from Terra Firma, the buy-out group led by Guy Hands, when it ran into trouble with excessive debts. The UK cinema sector is also set to consolidate....
...He would rather find a buyer for its Warner-Chappell music publishing business and then acquire EMI, the rival which is expected to pass from Terra Firma’s private equity ownership into the hands of its...
...Investors in Terra Firma have warned Mr Hands will struggle to raise another buy-out fund....
...The Financial Times has reported that Terra Firma, the UK private equity group led by Guy Hands, has explored selling Japanese assets belonging to music company EMI to help pay down global debt on EMI, which...
...Citigroup and Terra Firma declined to comment....
...EMI, the music group owned by Terra Firma, said earlier this year it was “not appropriate to publish an annual review” for its parent company because it was discussing a debt restructuring with its bank...
...Guy Hands, chairman of Terra Firma, which bought EMI at the peak of the debt bubble, sounded a defiant note on the industry’s future at a conference last month when he referenced a karaoke favourite to sum...
International Edition