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TPG/Tron Capital Partners ("TPG/Tron") has $100 million of
capital available to invest in the debt and equity
securities of (i) stalled or non-performing multi-unit
residential and commercial real estate properties, and
(ii) distressed or underperforming operating companies
with annual revenues between $10 and $100 million in the
manufacturing, distribution and services industries. The
focus is on businesses and properties located in the
Eastern United States which are underperforming,
operating in bankruptcy, in default on their obligations
to creditors, facing liquidity problems or with a
history of recurring operating losses.
TPG/Tron
generally will require some level of involvement in the
strategic management of the company, often at the board
level. In addition to outright purchase, TPG/Tron will
consider purchasing secured debt and providing secured
bridge financing in order to obtain ownership in the
company.
Each investment will include a concrete plan to
return the company's operations to profitability through
performance improvement, financial restructuring, and
capital investment. In the case of real estate
investments the turnaround plan may also include completion of unfinished construction or repositioning
and remarketing of the project. TPG/Tron focuses on
transactions where the success of the investment is
dependent primarily on operational and financial
changes, not significant revenue growth or the ability
to complete subsequent acquisitions.
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