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MHR Fund Management

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MHR Fund Management
Company typePrivate
IndustryPrivate Equity
Founded1996
HeadquartersNew York, New York
Key people
Mark Rachesky
ProductsLeveraged buyout, Distressed securities
Total assets$5 billion[1]
Websitewww.mhrfund.com

MHR Fund Management is a private equity firm focusing on leveraged buyout and distressed securities transactions in the United States. The firm specializes in turnaround, buyouts and undervalued middle-market companies, most notably in the entertainment, communications and energy sectors.[2]

History

MHR Fund Management was co-founded in 1996 by Mark Rachesky, MD and Hal Goldstein.[2] From 1990-1996, Rachesky had worked under Carl Icahn as senior investment officer and chief investment advisor at Icahn Enterprises before opening MHR with Goldstein.[3][4][5] Notable investments have included Lions Gate Entertainment Corporation, Titan Tire Corporation, Leap Wireless and Loral Space & Communications, among others.[5]

In 2004, MHR began accumulating shares in Lionsgate, eventually pitting Rachesky against his former mentor Icahn during a hostile takeover bid attempt by Icahn Enterprises in 2010.[3][6] In 2012, the two activist investors disclosed a stake in Navistar International, indicating a possible takeover of the struggling truck maker.[2][6]

References

  1. ^ McNary, Dave (7 April 2015). "Lionsgate Chairman Mark Rachesky Sells 20% of Shares". Variety. Retrieved 30 October 2017.
  2. ^ a b c Effinger, Anthony (20 March 2013). "Activist investor Mark Rachesky again goes toe-to-toe with mentor Icahn". Washington Post. Retrieved 30 October 2017.
  3. ^ a b Vardi, Nathan (30 October 2013). "The Smart Money Behind 'The Hunger Games'". Forbes. Retrieved 30 October 2017.
  4. ^ Lewis, Hilary (23 March 2009). "Meet Mark Rachesky: The Protege Who Stabbed Icahn In The Back". Business Insider. Retrieved 30 October 2017.
  5. ^ a b Butt, Rachel (16 June 2016). "Here are the 10 biggest activist money managers and some of their most impressive bets". Business Insider. Retrieved 30 October 2017.
  6. ^ a b Vardi, Nathan (13 March 2014). "Lions Gate Admits, To Beat Carl Icahn, It Committed Wrongdoing, Settles SEC Charges". Forbes. Retrieved 30 October 2017.
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