$250m just a start for big-hitting investors

The low-key purchase on Wednesday of $250 million of convertible notes gave little hint that a new group of heavy-hitters is about to make a mark on the investment scene.

George Kerr and Ira Bing are not names widely known outside investment circles. Neither is their investment vehicle, Equity Partners Asset Management (EPAM). But that will change as the group flexes its considerable muscle and builds on its first two investments.

Snapping up the entire $250m convertible note issue by Independent News & Media (INM) is no more than a seed investment to get Equity Partners' latest vehicle, Equity Partners Media & Communications Fund, up and running.

 

Source: Stuff NZ Ira Bing  http://www.stuff.co.nz/business/6231/250m-just-a-start-for-big-hitting-investors