Hedge Funds

Clinton retires its $110m debt to TA


Clinton Group has retired its $110 million debt to the Boston-based private equity firm TA Associates. It is unclear whether Clinton's recent assets slide triggered a redemption clause or put option in the terms of the financing, or whether Clinton acted of its own.

When the transaction was announced in January 2002, it was the first time that a hedge fund group had raised financing from a private equity source. It is understood that the debt financing may also have carried a 10-year option to buy an undisclosed equity stake in the Clinton.

At the time Clinton was flying high,