Bain's Sankaty opposes TPG-led Alinta rescue in Australia
Sankaty Advisors, the special situations/credit affiliate of Bain Capital, is opposing the bailout plan led by TPG Capital's TPG Opportunities Partners unit, with Oaktree Capital and Anchorage Advisers, for struggling Australian power producer Alinta Energy, formerly Babcock & Brown Power.
Sankaty specifically opposes plans by the TPG-led consortium to reserve for themselves 25% of a planned A$300 million ($277 million) Alinta rights issue, according to a Sankaty spokesperson. However, Sankaty...
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