Preqin’s extensive database has collated data of prominent private equity firms that make turnaround investments in underperforming entertainment companies. The current universe of firms investing in turnaround opportunities includes fund managers based in Western Europe, South America, North America and Asia.
Based on Preqin's research, the total funds raised in the last 10 years by these private equity firms totals USD 65 billion, and it is estimated just over a third of this amount is still available to fund managers for investments. The research shows that Sun Capital Partners is a Florida, US-based firm with USD 8.8 billion in total private equity funds raised in the last 10 years, and currently has USD 3.4 billion in estimated dry powder. The firm has offices in Europe and Asia and targets underperforming but profitable entertainment companies with annual revenues between USD 50 million and USD 5 billion.
H2 Equity Partners is a Netherlands-based firm with an estimated available dry powder of USD 89 million. The firm is an equity-only turnaround specialist, and has raised over EUR 240 million in private equity capital over the past 10 years, including three turnaround private equity funds. Its investments are focused on mid-sized companies in the Benelux, Germany and UK.
ADM Capital is a Hong Kong-based sector agnostic private equity firm that makes investments primarily in undervalued companies located in emerging markets. Its estimated available dry powder is over USD 750 million and it is currently in the market with a turnaround fund called ADM Capital CEECAT Recovery Fund.
ADM Capital CEECAT Recovery Fund is targeting USD 300 million for turnaround investments in Central and Eastern Europe, Central Asia and Turkey. The fund has received commitments from the European Bank for Reconstruction and Development, the International Finance Corporation and the Development Finance Institution. The fund is targeting a final close for Q3 2010.
For more information on private equity fund managers, please see Preqin's Funds in Market product