MHR Fund Management
MHR Fund Management is a private equity firm focusing on leveraged buyout and distressed securities transactions in the United States. The firm specializes in turnaround, buyouts and undervalued middle-market companies, most notably in the entertainment, communications and energy sectors.History
MHR Fund Management was co-founded in 1996 by Mark Rachesky, MD and Hal Goldstein. From 1990-1996, Rachesky had worked under Carl Icahn as senior investment officer and chief investment advisor at Icahn Enterprises before opening MHR with Goldstein. Notable investments have included Lions Gate Entertainment Corporation, Titan Tire Corporation, Leap Wireless and Loral Space & Communications, among others.
In 2004, MHR began accumulating shares in Lionsgate, eventually pitting Rachesky against his former mentor Icahn during a hostile takeover bid attempt by Icahn Enterprises in 2010. In 2012, the two activist investors disclosed a stake in Navistar International, indicating a possible takeover of the struggling truck maker.
In 2014, MHR failed to consummate a sale for its holding in Loral Space & Communications, purportedly over a matter of a 300 million consent fee in a 2.6 billion dollar acquisition. The total market capitalization of Loral Space & Communications has since fallen to less than 25% of the 2014 value
