Terra Firma is hopeful it can return investors all their money despite losing 1.7 billion pounds ($2.75 billion) on music group EMI, the private equity firm's boss said on Tuesday. Guy Hands, Terra Firma chairman, said in a quarterly letter to investors that returning all the money in its third fund would be not easy, but he was encouraged by prospects for other investments and potential acquisitions. Terra Firma [TERA.UL] bought EMI in 2007 for 4 billion pounds, but in one of the most high-profile examples of a buyout firm losing a company to lenders, Citigroup (C.N) seized control of the business last month after EMI defaulted. [ID:nLDE71102O]
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