Worst LBO in past 10 years?
Hey guys, I'm doing a project for my school, and we were asked to analyze an LBO in the past 10 years that was over 1B. I really want to find a unique bad one to analyze because it seems more fun. A quick google search doesn't do me too much good. Any ideas?
Toys R Us
10 years
Caesars up there
TXU
10 years
Elon is throwing his hat in the ring for this one.
Envision
this is the answer
This has to be it. It has everything
Was there LP coinvest here or is KKR really taking a donut on 3bn of a 13.5bn fund?
Came here just to say this lol - recent LBO so bad, it singlehandedly sank the KKR brand. Only issue for OP is that if he's looking for something unique, well, odds are half his classmates will also be picking this one.
I mean, sink the brand is a little much. Americas13 still was over subscribed. The only hit was they lost a big SMA and I know their allocation to envision was a reason
Thanks for sharing.
Was really quite an interesting read, essentially the largest use of debt for an LBO since the financial crisis.
Link for a good overview of the situation: https://pestakeholder.org/news/it-should-come-as-no-surprise-that-kkr-o…
Flint Group
Would love some detail here
elaborate?
Twitter for sure lmfao
Anything Clearlake has done
Unironically correct
I’d imagine many of the EdTech investments in China were marked down to pocket change. I think there were a couple of buyout deals.
I’ve heard MedeAnalytics and Riverbed Technologies were a couple of the worse performing Thoma deals, but not sure about TEV.
Envision, LMEs notwithstanding
https://pestakeholder.org/news/kkrs-investors-should-be-asking-question…
I’ll second Ceasers especially since there is a fairly detailed book out there about it which would really help with your research
Bain Capital lost their shirt on Atento, and then the lenders took over who then also proceeded to lose all their money. Look at where it trades now. I struggle to think of a worse one than this
Not huge and a little unique, but Blackstone and Klockner Pentaplast could be interesting. Good example of too much leverage.
Westjet Onex
Direct lender here. Lol we’ve taken the keys from pe firms on several deals but nowhere near the magnitude of dollar loss these MFs suffered.
Incora
gotta be TXU
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