Monday, 30 November 2015
Last updated 2 days ago
Feb 28 2011 | 10:27am ET
A Texas energy company owned by a pair of private equity giants is angrily denying allegations leveled by a hedge fund that it is in default on nearly $24 billion in loans.
Energy Future Holdings disclosed the accusation by Aurelius Capital Management in a regulatory filing last week. The company, known as TXU Corp. prior to its $45 billion buyout by KKR & Co. and TPG Capital, called that claim "utterly meritless."
Still, Citigroup, which is the administrator of the $23.9 billion in loans, will begin talks with the lenders to Energy Future subsidiary Texas Competitive Electric Holdings. Aurelius is among the largest TCEH creditors and stands to profit handsomely if the company is pushed into a restructuring.
But EFH said they would "defend ourselves vigorously against these allegations." According to the company, Aurelius is the only creditor alleging default.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…