St Pé involved in FGO acquisition
On November 15, FGH entered into a definitive contract to sell the assets of its offshore division to ACON Offshore Partners LP, a Delaware limited partnership and an affiliate of ACON Investments, in a transaction valued at approximately $61 million (USD).
So, who are ACON Investments?
Friede Goldman Halter says it "has been advised by ACON Investments that ACON is an international private equity investment firm, which manages investments in the United States, Europe and Latin America. ACON's partnerships typically include sophisticated institutional investors from the U.S., Europe and Latin America. Among its activities, ACON is affiliated with Texas Pacific Group (TPG). TPG manages over $5.7 billion worldwide. Friede Goldman Halter is further informed that ACON typically utilizes a thematic investment approach to identify investments at times of inflection points and that ACON's investment philosophy is to identify opportunities in industries with attractive dynamics and to pursue those opportunities in partnership with established management teams."
He served as Assistant Secretary of State for Inter-American Affairs from 1989 to 1993, longer than any previous holder of that position. Aronson held several positions in the Jimmy Carter White House between 1977 and 1981, including Deputy Assistant and Executive Speechwriter to the President.
From 1984 to 1988 he served as President of The Policy Project, a Washington-based consulting firm from 1984 to 1988. He was Assistant to the President of the United Mineworkers of America International Union from 1972 to 1976. Mr. Aronson is a director of Royal Caribbean Cruise Lines, Inc. and of Liz Claiborne, Inc. He also serves on the boards of directors of the National Democratic Institute for International Affairs and Freedom House International. He co-chairs the Task Force on U.S.-Cuban Relations in the 21st Century of the Council on Foreign Relations..
Texas Pacific, with which Acon is affiliated, is headed by David Bonderman, described by the New York Times as "a former civil rights lawyer with a reputation for fixing problem companies."