BlackRock becomes Authentic Brands’ largest shareholder with $875mn stake


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BlackRock becomes Authentic Brands’ largest shareholder with $875mn stake

On Sunday, the 11th of August 2019, 'Long Term Private Capital', the newly formed private equity fund of BlackRock Inc., world’s largest asset manager with $6.84 trillion under its management, headquartered in New York, had completed its investment on Authentic Brands Group LLC., a NY-based brand management company, and acquired a stake worth of $875 million, which in effect had turned the BlackRock’s new private equity fund, Long Term Private Capital, into the largest investors for the US-based entertainment company.

Meanwhile, expressing an out-and-out optimism over the investment, head of BlackRock’s Long Term Private Capital, Andre Bourbonnais said, “The fund itself put $625 million and we have another $250 million that is coming from related entities and co-investors.

” In point of fact, latest move of BlackRock’s newly formed private equity fund, Long Term Private Capital came forth after the NY-based largest asset manager across the world said earlier in April that it would soon ramp up investments on behalf of its new private equity fund which had a hefty sum of $2.75 billion in capital at that time.

On top of that, the deal announced on Sunday (August 11st), which was first posted in a Wall Street Journal report, had also added that the latest investment worth of $875 million from BlackRock’s Long Term Private Capital would be valuing the Authentic Brands Group at around $4 billion including debts.