Farallon Funds Founding Investor’s Acquisition

Oct 23 2007 | 7:36am ET

Farallon Capital Management is helping out an old friend squeezed by the tightening credit markets.

The San Francisco hedge fund and GSO Capital Management will buy $500 million of high-yield debt to fund private equity firm Hellman & Friedman’s purchase of heating and cooling product company Goodman Global. Farallon founder Thomas Steyer worked at the private equity firm, also based San Francisco, before starting the hedge fund in 1986, and he remains a managing director at the firm. Hellman & Friedman was also a founding investor in Farallon.

Hellman & Friedman is paying $2.65 billion for Houston-based Goodman, which returns to private equity ownership. The company, which had been owned by the Goodman family and private equity firm Apollo Management, went public last year.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...