Farallon Loans Bankrupt General Growth Properties $400 Million

May 14th, 2009
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Reuters reports that a federal court yesterday approved a $400 million debtor-in-possession (DIP) loan from hedge fund Farallon Capital Management to help bankrupt mall owner General Growth Properties Inc. Farallon beat out other proposals that were made by activist hedge fund Pershing Square Capital Management and a group offer made by Goldman Sachs (GS) and Brookfield Asset Management. The DIP loan can be paid off in part by stock in new entity when it emerges from bankruptcy.
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Pershing Square Capital Management
Farallon Capital Management
Related People: ; Andrew J.M. Spokes; David Kim; Dr. Thomas Roberts Jr.; Edward Chung; John Warren; Nicholas Botta; Ravi Paidipaty; Roy J. Katzovicz; Scott Ferguson*; Thomas Steyer*; William 'Bill' Ackman; William Seybold
Related Entities: Farallon Capital Institutional Partners; Farallon Capital Partners; Farallon Credit Opportunity; Farallon Special Situations; FKG Capital; Hellman & Friedman; Leucadia Corporation (NYSE: LUK); Noonday Global Management; Pershing Square Capital; Pershing Square IV; Pershing Square LP
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News

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