Heartland Industrial Partners
|Founder||David Stockman, Timothy D. Leuliette, Daniel P. Tredwell|
|Headquarters||New York, New York, United States|
|Products||Leveraged buyout, Growth capital|
|Total assets||$1.4 billion|
The firm, which is based in Stamford, Connecticut, was founded in 1999 and is no longer actively investing.
The firm was founded in 1999 by former Reagan budget director David Stockman, Timothy Leuliette and Daniel Tredwell  In 2001, the firm completed fundraising for its first and only private equity fund with approximately $1.4 billion of investor commitments.
Collins & AikmanEdit
In 2005, it was reported that Stockman handed control of the fund, Heartland Industrial Partners, over to his partners following his resignation as chairman of Collins & Aikman, which was a major investment for the fund that ended in bankruptcy.
On March 26, 2007, federal prosecutors in Manhattan indicted Stockman in "a scheme ... to defraud [Collins & Aikman]'s investors, banks and creditors by manipulating C&A's reported revenues and earnings." At the same time, the Securities and Exchange Commission brought civil charges against Stockman related to actions he took while CEO of Collins & Aikman. Stockman suffered a personal financial loss, estimated at $13 million, along with losses suffered by as many as 15,000 Collins & Aikman employees worldwide. Stockman said in a statement posted on his law firm's Web site that the company's collapse was the consequence of an industry melt-down, not fraud. In August 2008, a trial date was set but on January 9, 2009, the U.S. Attorney's Office announced that it did not intend to prosecute Stockman in this case.
- Stockman Forming Own Buyout Concern. New York Times, September 17, 1999
- "Collins & Aikman seeks to emerge from bankruptcy," Bloomberg News article by Jeff Bennett, appearing in The Advocate of Stamford and (identical version, perhaps with changes by the local editor in the common business section for both papers) in the Greenwich Time on September 5, 2006, page A7, The Advocate
- Firm of Reagan Adviser Raises $1.4 Billion Fund. New York Times, December 11, 2001
- A Reagan Budget Czar Grapples With Investment Woes. New York Times, May 25, 2005
- "Stockman Outsmarts Self in Detroit by Doron Levin". Bloomberg, March 29, 2007
- Ex-Collins Chief David Stockman Charged With Fraud. Bloomberg, March 26, 2007
- SUITS; Stockman Update. New York Times, August 31, 2008
- Heartland forges Metaldyne.(Heartland Industrial Partners LP, Metaldyne Corp.). Automotive News, January 29, 2001
- SPRINGS INDUSTRIES, A MAKER OF SHEETS, TO GO PRIVATE. New York Times, April 26, 2001
- Heartland Industrial Partners To Buy Simpson Industries. Autoparts Report October 2, 2000,
- Producing Gold In The Rust Belt. Automotive Manufacturing & Production, March, 2001
- Heartland Industrial Partners (company website)