A couple of points here.. Roy E. Friedman , the REF, died last year,and he was out of the picture anyway. Phil Bennett, current CEO, sold stock, as did Thomas Lee, to recoup some money back from their purchase. Why go public now?" Sell when you can, not when you have to "has always been an adage that smart traders & investors have followed. Generate some more cash to gobble someone else up.. TT perhaps???? Stranger things have happened...
Thomas H. Lee May Have Lost $635 Million From Plunge in Refco October 11, 2005 03:27 EDT -- Thomas H. Lee Partners LP, the U.S. buyout firm that's raising $7.5 billion for a new fund, may have lost as much as $635 million from its investment in Refco Inc. (NYSE: RFX), two months after an initial public offering by the New York-based futures broker. ( Bloomberg.com )
They did triple their $520mil investment to start with in a few months - if you don't take profits....