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I'm assuming he was going from the OP article: >Bain, KKR, and Vornado will have to write off their investment, of course. But they did suck around $200 millio
by moufestaphio 8y ago
I'm assuming he was going from the OP article:
>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.
- btilly 8y agoIndeed I was going from the article.
- JumpCrisscross 8y agoPardon me, my bad.
- JumpCrisscross 8y agoThat'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.