‘Zombie firm’ JW Childs mulls liquidity option for LPs

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dollar_money_bag_170sqPrivate equity firm JW Childs is reportedly considering giving investors in its 2002-vintage fund an option to cash out.

The firm has hired placement agent Park Hill Group to advise on a structured deal for JW Childs Equity Partners (JWCEP) III, said Bloomberg.

JW Childs scrapped plans to raise a new fund in 2007, five years after closing its third fund on $1.75bn, said the report. The vehicle currently has five portfolio companies and is valued at $1bn, according to the sources.

JWCEP III was generating a return multiple of 1.4 times as at the end of March this year, according to Castle Private Equity.

Earlier this year JW Childs hired Jeffrey Miller from New York investment bank Sawaya Segalas as a vice president and made a series of promotions, which was seen as a signt hat it could soon be back in the market.

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