MatlinPatterson related stories
All articles and analysis
MatlinPatterson gets extension on Fund IIIThe firm, co-led by Mark Patterson, was granted a one-year extension on the investment period for its $5bn third fund.
- Avaya to pay $915m for Nortel assets
The Silver Lake- and TPG-backed company won out over a joint venture between Siemens and The Gores Group, despite protests from creditors including MatlinPatterson.
- KPS tops up Fund III with $800m
The ‘supplemental’ fund was raised to make fresh investments for the firm’s $1.2bn Fund III.
- KKR closes annex fund to €4.5bn European vehicle
The firm was targeting €400m to €700m for capital infusions in portfolio companies of KKR’s €4.5bn second European fund.
- Gores enters Nortel fray
The Gores Group joint venture with Siemens has stepped into a raucous bankruptcy fight for business units of bankrupt Nortel, for which a company backed by TPG and Silver Lake has already bid.
- Bankruptcy battles
In several high-profile cases, investment performance will be determined by how well the GPs perform in bankruptcy situations, writes Christopher Witkowsky.
- MatlinPatterson submits $725m bid for Nortel businesses
The distressed debt specialist has plans to buy various Nortel assets out of bankruptcy and run them as a reorganised company. A separate Nortel division is currently being pursued by Avaya, which is owned by Silver Lake and TPG.
- Avaya submits $475m bid for Nortel business unit
The Silver Lake- and TPG-backed telecom company has entered a 'stalking horse' bid for a business unit of bankrupt Nortel Networks. MatlinPatterson is reportedly looking for strategic partners for a rescue plan for the company.
- Private equity seals $900m bank rescue
Blackstone, Carlyle, Centerbridge and WL Ross have joined forces with several co-investors – including UK charity The Wellcome Trust – to buy failed Florida-based BankUnited. The FDIC is currently evaluating 'the appropriate terms' to let more private equity firms acquire failed depository banks.
- MatlinPatterson writes off $450m investment in mortgage lender
The distressed investment specialist is surrendering all its stock in Thornburg Mortgage and has resigned its board seats. The residential mortgage lender has been given a grace period by lenders to come up with a restructuring plan.