J. Christopher Flowers, the private- equity investor who installed Jon Corzine as the top exec at MF Global Holdings Ltd., may book a loss of $47.8 million on its investment in the New York-based broker-dealer, which filed for bankruptcy today, according to Bloomberg.
JC Flowers & Co. paid $87.4 million three years ago for MF Global preferred stock with a $150 million face value, according to a person with knowledge of the deal who asked not to be named because the information is private. The investment returned $39.6 million in interest payments before MF Global sought protection from creditors.
The MF Global stake is one of several high-profile deals to go sour in JC Flowers’s second fund, which raised $7 billion in 2006….
Learn more at http://www.bloomberg.com/news/2011-10-31/jc-flowers-fund-is-said-to-have-47-8-million-loss-on-its-mf-global-stake.html
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