text_combined: heartland industrial partners received response yet dave delainey feb 21 memo forwarded additional information investment energy services agreement intend followup next week dick louise kitchen ect 03 01 2001 12 56 pm richard lydecker corp enron enron cc subject heartland industrial partners sorry took repond ees picked financial implication 6 already invested date thanks louise richard lydecker enron 02 13 2001 04 32 pm louise kitchen hou ect ect cc subject heartland industrial partners heartland industrial partners one issue discuss morning e mails summarize situation able get resolution yet provides home investment fit ena bowen want eim ees want invest kind capital although delainey ask additional information forwarded richard lydecker corp enron 02 13 2001 03 39 pm richard lydecker 02 12 2001 01 42 pm david w delainey hou ect ect cc brian redmond hou ect ect subject heartland industrial partners respect questions concerning heartland industrial partners fund current investments heartland private equity buyout fund 1 2 billion commitments targeted size fund 2 billion fund headed david stockman former managing director blackstone group stockman director omb reagan heartland objective irr 30 gross 26 limited partners limiteds get 8 preferred return gp gets 20 carried return gp also receives 1 5 management fee experience terms consistent private equity funds fund objective acquire expand industrial companies sectors ripe consolidation growth industrial platform scaleups targeted sectors aerospace components materials automotive suppliers capital goods chemicals plastics conversion metal working etc fund two investments currently mascotech merger three fund companies leading global designer supplier high quality low cost metal formed components assemblies modules transportation industry products include noise vibration harshness products transmission transfer case components engine components wheel end suspension components axle driveline components estimated revenues 1 9 billion 2001 company 50 facilities 11 countries 9 500 employees agreement purchase collins aikman corporation signed january 2001 c leader automotive floor acoustic ceilings leading supplier automotive fabric interior trim convertible top systems 2000 sales 1 9 billion original dash april 2000 predicated ena receive exclusive right provide energy related products services platform company owned fund ena submit comprehensive long term energy managment plan platform company hip obligated accept implement plan long plan provides cost benefit relative platform company current practices accounting switching costs expected value business ena 20 50 mm forwarded richard lydecker corp enron 02 12 2001 01 04 pm raymond bowen enron enronxgate 02 09 2001 07 04 pm david w delainey hou ect ect richard lydecker corp enron enron cc brian redmond hou ect ect wes colwell hou ect ect raymond bowen hou ect enron jeffrey mcmahon enron enronxgate subject heartland industrial partners dave congrats new role heartland industrial partners investment pursued solely purpose providing deal flow energy outsourcing opportunities ena industrial group following broad based energy outsourcing business plan zero relevance eim business fact heartland reflected ena balance sheet ever since creation eim last august brad dunn administered relationship transitional matter intervening months brad attempted get ees take transaction expressed interest capital commitment however ees wants option look energy outsourcing opportunities transaction thought could get free option would take position enron get anything heartland industrial partners beyond return invested dollars value come ees since paper steel aspect heartland belong eim want would happy discuss different note lots opportunities ees eim work together energy opportunities eim pulp colwell wes raymond bowen hou ect enron subject heartland industrial partners richard understanding investment currently ray bowen business ena shoes would say would interest taking responsibility ees shoes would like take closer look possible connections please send info investment fund current investments portfolio also heard tom white talking ees taking catalytica investment ees shoes way regards delainey forwarded david w delainey hou ect 02 09 2001 05 56 pm richard lydecker enron 02 07 2001 09 01 david w delainey hou ect ect cc brian redmond hou ect ect wes colwell hou ect ect subject heartland industrial partners dave may 2000 enron north america committed invest 30 million heartland industrial partners l p private equity fund terms fund investment fairly typical particularly exciting limited partner deal sold basis ena getting exclusive rights provide energy management services companies owned fund cost effective claimed benefits energy management tie calculated 20 50 million deal originated brad dunn eim ownership commitment assigned jim ajello kinds energy management services associated deal provided ees happy exploit opportunity business plan contemplate investment substantial capital kind deal short interest picking commitment capital employed via intercompany transfer private equity funds highly illiquid design normal investment cycle least 5 7 years heartland partnership 10 year life enron negotiate right sell lp interest 3 years practical matter right guarantees neither fair price even market logical home investment know ena except portfolio question ena responsibility would move eim balance sheet ena choice retain investment group take responsibility best monetize funds invested date 6 million sell remaining commitment since fund still marketing limited partnership interests however extremely difficult get investment commitment foreseeable future circumstances finding buyer time consuming expensive poster child patient investment capital want ensure aware situation case view obligation transferred eim believe assumed charter ena group formerly managed investment dick