Blackstone To Help Hedge Funds Sell Auto Parts Maker

Feb 4 2014 | 11:41am ET

TI Automotive's hedge fund owners have turned to a private equity firm to help it sift offers for the company from other alternative investment firms.

A consortium led by Oaktree Capital Group and Duquesne Capital Management bought TI in 2007 and put it up for sale last year. The hedge funds have now hired Blackstone Group's advisory business to weigh offers from Bain Capital and Pamplona Capital Management against the possibility of taking TI public.

The hiring of Blackstone Advisory follows the failure of Deutsche Bank or JPMorgan Chase to find a buyer for TI at a price acceptable to TI's current owners. Those shareholders apparently want in excess of $2 billion, more than either Bain or Pamplona has offered.


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