Re:How vulture capitalists ate Toys 'R' Us
by JumpCrisscross on Monday April 23, 2018 @01:00PM
(#16905233)
That's part of the "fees and interests" bit which is paid to the fund, not the general partnership. If it is paid to the general partnership, it interacts in a complicated way with the fund so as to ensure that if something like this happens, the GP reimburses (or through high water mark effects) pays the fund that money.
TL; DR Nobody on the Toys 'R' Us deal teams at these firms is happy about this, and all will find their lives in the industry a little bit harder going forward.
Indeed I was going from the article.
Re:How vulture capitalists ate Toys 'R' Us
by JumpCrisscross on Monday April 23, 2018 @01:01PM
(#16905244)
Pardon me, my bad.
>Bain, KKR, and Vornado will have to write off their investment, of course. But they did suck around $200 million in fees out of Toys 'R' Us over the course of their ownership.