Sun Capital Partners related stories
All articles and analysis
Retail and automotive sectors dominate defaultsA sample of private equity-backed companies that have defaulted since the beginning of 2009 reveals two sectors being hit harder than most.
- Fund attorney: Firms hold $300bn in dry powder
Hundreds of billions of dollars are set to invest in distressed debt and real estate, according to funds lawyer Sandy Presant - but few investors will ‘jump’ now when opportunities could be better in six to 12 months.
- Sun halts investments from $1bn hybrid securities fund
Poor performance and the inability to affect turnarounds with minority stakes has caused Sun Capital to discontinue making new investments from the hedge fund it raised in 2006.
- Sun Capital doubles down with DIP moves
The turnaround specialist, which has seen about 10 of its portfolio companies tumble into bankruptcy since last year, has extended debtor-in-possession loans to two of its bankrupt companies and plans to control them after they emerge from Chapter 11.
- ICG closes Tokyo office
The UK-listed mezzanine house is the latest firm to close a Tokyo office after having found the Japanese market difficult to penetrate. It will instead bolster its team in Sydney, where it has seen more deal flow.
- Sun Capital launches data site for LP fund sales
The private equity firm has created a site for potential sellers and buyers of its fund interests to exchange info, a move that puts Sun Capital into one of the IRS’ ‘safe harbours’ from certain US tax regulations.
- Sun Capital-backed pharmacy declares bankruptcy
The Drug Fair Group, based in New Jersey, has filed for Chapter 11 protection and is selling a portion of its stores and other assets to Walgreens.
- Sun Capital in $70m autoparts deal
The turnaround firm purchased a larger stake in Accuride, a US autoparts maker and former KKR portfolio company, in a $70m transaction through the company’s senior secured term loan.
- Sun Capital cuts 12 more employees
The Florida-based turnaround firm’s job cuts and closure of its Tokyo office over the last several months are due in part to the stagnant deal environment.
- Sun Capital closes its Tokyo office
Florida-headquartered Sun Capital Partners has disbanded its Tokyo office making 8 redundancies following a decision to move away from platform opportunities in Asia. The company will retain its one Japanese portfolio company, gelatine dessert maker Tarami.