Terra Firma to return 3 bln euros to investors - FT

LONDON Sun Jan 27, 2013 6:12pm EST

LONDON Jan 27 (Reuters) - Private equity firm Terra Firma will return 3 billion euros to investors through disposals within the next 12 to 18 months, the Financial Times reported on its website on Sunday.

Terra Firma, founded by Guy Hands, will also persevere with a 3 billion euro fund to buy green infrastructure assets, less than the 5 billion originally planned, after China Development Bank failed to commit to the fund, the FT said, citing unnamed people with knowledge of the matter.

Hands also approached investors regarding a 2 to 3 bln euro buyout fund that may be marketed as soon as next year, the FT said.

Terra Firma lost 1.7 billion pounds of its own and investors' money on EMI, which it bought in a highly-leveraged deal at the peak of the buyouts boom in 2007.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article