The first large deal by Terra Firma, Guy Hands’ new private equity group, has fallen through after Cologne council vetoed his plans to buy a portfolio of flats in the city in a deal worth around 1.9bn (£1.2bn).
Terra Firma’s strategy is to buy out-of-favour businesses with reliable cash flows.
Terra Firma plans to raise 3bn for a fund by June.
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Including:
Fund house picks up city site from Nuveen
Savills appointed to sell 535-bed Liverpool PBSA
Organisation will be brought into HMRC over the next year
New name will be adopted from June
