Guy Hands’s private equity firm Terra Firma has spoken with at least a couple potential investors for a new fund, Reuters reported, citing news from the Sunday Telegraph. The new fund, Terra Firma Capital Partners IV, aims to raise up to 2.5 billion pounds ($4 billion). The fund will not be formally marketd until 2010, according to the Sunday Telegraph.
(Reuters) – Guy Hands’s private equity firm Terra Firma has spoken to at least two potential investors about the firm’s next fund, which aims to raise up to 2.5 billion pounds, the Sunday Telegraph said.
The fund, Terra Firma Capital Partners IV, will be around half the size of its previous one and will not be formally marketed until the start of 2012, the British newspaper said.
It added that Terra Firma would also focus on the Middle East and Asia to help raise parts of the fund and that future investments were likely to be between 225 million and 450 million pounds.
According to sources close to Terra Firma, the newspaper also said its current fund had around 800 million pounds still to invest.
(Reporting by Neil Maidment; Editing by Will Waterman)