 Rich Myers |
Profile Advisors handles the largest creditor group in Puerto Rico that agreed yesterday on a financial deal that Governor Ricardo Rossello hailed as “a significant step in restructuring Puerto Rico’s debt and reaffirms once again the credibility of our efforts.”
The COFINA Senior Bondholders Coalition said restructuring of an estimated $18B in debt lays the groundwork for future capital market access and equitable recoveries and resumption of cash interest for bondholders.
It also reduces the island’s debt by $7B.
The Wall Street Journal reported the restructuring, which requires court approval, would “mark the largest consensual debt settlement with creditors” since Puerto Rico entered bankruptcy last year.
Edelman Financial veterans Rich Myers and Greg Marose launched Profile Advisors in April with support from Prosek Partners.
They exited Edelman in March.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
