As a Grocery Chain Is Dismantled, Investors Recover Their Money. Worker Pensions Are Short Millions.
Founded by two onetime colleagues at Lehman Brothers, Marc Leder and Rodger R. Krouse, Sun Capital manages billions in private-equity investments, buying and selling companies for profit. The public face of the firm is Leder, a co-owner of the Philadelphia 76ers basketball team and the New Jersey Devils hockey team. Noted for his extravagant parties and yachting expeditions, he has been dubbed by tabloids as “the Hugh Hefner of the Hamptons.”
Politically, he may be best known for hosting the Boca Raton, Fla., dinner where presidential candidate Mitt Romney made what became infamous comments about the “47 percent of the people . . . who are dependent upon government, who believe that they are victims.”
In a statement for this report, Sun Capital said: “Marsh was a struggling business that we worked hard to save. Our investment kept the company alive and provided jobs for its employees for 11 years.”