Terra Firma gives Fund III LPs an exit option

Terra Firma Capital Partners, a UK buyout firm, is working on a tender offer to give investors in its third fund the option to exit the poorly performing vehicle within weeks.

The firm has sent indicative offers to limited partners in its €5.38 billion Terra Firma Capital Partners III Fund, according to three sources familiar with the deal.

The binding round of offers may be held before Christmas. Terra Firma would also buy 10 percent of the total stakes LPs agree to sell and would pay the same price as other buyers, Secondaries Investor understands.

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