Madison Dearborn Returns Record $3.3 Billion to Its Clients
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Madison Dearborn Partners LLC, Chicago’s biggest private-equity firm, handed back a record $3.3 billion to investors in 2012 as it sold companies to take advantage of higher pricing fueled by the Federal Reserve’s bond buying, according to a year-end letter to clients.
The firm, which has raised more than $18 billion across six funds since it was founded in 1992, surpassed its previous peak from 2011 when it returned close to $2 billion, according to last month’s letter, a copy of which was obtained by Bloomberg News. High debt levels in deals suggest it’s a good time to sell assets, the company wrote.