COMPANIES Guy Hands has bought three cash-strapped investors out of their holdings in his Terra Firma private equity fund at a heavily discounted price that underlines concerns about its indebted investments, notably music group EMI.
The highly unusual move, thought to be a first since the credit crisis started, means Terra Firma’s management company, tightly controlled by Mr Hands, has taken over the three investors’ €25m ($32m) holding in his latest buy-out fund.
