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.[2] History MHR Fund Management was co-founded in 1996 by Mark Rachesky, MD and Hal Goldstein.[2] 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.[3][4][5] Notable investments have included Lions Gate Entertainment Corporation, Titan Tire Corporation, Leap Wireless and Loral Space & Communications, among others.[5] 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.[3][6] In 2012, the two activist investors disclosed a stake in Navistar International, indicating a possible takeover of the struggling truck maker.[2][6] 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 [7] in a 2.6 billion dollar acquisition [8]. The total market capitalization of Loral Space & Communications has since fallen to less than 25% of the 2014 value [9]