- KKR, GS Capital Partners, and TPG Capital acquired Energy Future at the peak of the buyout boom in 2007 - more or less a bet, using $40.1B in debt, extrapolating the rise in natural gas prices into the future. At the time, it was the largest-ever LBO.
- The three may end up accepting as little as 1% of the equity in the business as it completes its bankruptcy restructuring. The deal would also give full legal releases to the three P-E players, who a year ago had hoped to push a plan through giving them 15% of the company.