Terra Firma 'set to raise funds'
Terra Firma, the private equity group run by Guy Hands, is expected to start fundraising within 12 months.
Private equity firms have struggled recently to raise money for funds, and Terra Firma has had a particularly hard time due to the fall-out from its EMI purchase. Investors made heavy losses on the music label after Mr Hands lost control of the business to lender Citi.
The cash in Terra Firma's last fund was drained by last month's £825m purchase of care homes group Four Seasons. Mr Hands has decided to raise money for buyouts on a deal-by-deal basis in the short-term following a similar model being used by Duke Street Capital after it recently failed in a fundraising.
A source close to Terra Firma insisted that "by this time next year there will be money under management from a fundraising". But a market source said it would be at least 18 months.
- 1 Universities aren't working us hard enough, say undergraduates
- 2 Lego letter from the 1970s still offers a powerful message to parents 40 years later
- 3 To help fuel their propaganda machine against the poor, our government has now decided to redefine the word 'welfare'
- 4 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 5 Grayson Perry: London needs affordable housing because 'rich people don't create culture'
Oscar Pistorius terrorised Reeva before he shot her dead, says June Steenkamp
Audacious North Korean kidnap plot foiled at Paris airport as 'Asian men' attempted to bundle student onto plane
Heroin to be prescribed to Canadian addicts by doctors
Tower Bridge glass walkway 'smashed' by night-time visitor dropping bottle of beer
Revealed: the case against Bill Cosby – through the stories of his accusers
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Beast of Bolsover' Dennis Skinner takes Ukip MP Mark Reckless to task moments after he is sworn in
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
France 'blocks' Russian sailors from boarding a warship
Rochester aftermath: Sacking of Emily Thornberry will make work of Labour MPs '10 times harder'
Exclusive: UK approved £7m Israeli arms sales in six months before Gaza conflict
iJobs Money & Business
$80000 - $110000 per annum, Benefits: Bonus and Employee Investment Scheme: Se...
€30000 - €50000 per annum, Benefits: Competitive Bonus: Selby Jennings: Java D...
$60000 - $90000 per annum, Benefits: Competitive Bonus and Employee Investment ...
circa 65,000 EUR + Bonus + Benefits: Selby Jennings: Recruiting a Sales Associ...