Daily Management Review

BlackRock’s Private Equity Fund Arm Turns The Largest Investor For Authentic Brands Group


Following its maiden investment round, the “new private equity fund” of BlackRock tops the investors in Authentic Group.

Source: flickr.com; (CC BY 2.0)
Source: flickr.com; (CC BY 2.0)
Long Term Private Capital is the “new private equity fund” of BlackRock Inc with has ended its “maiden investment” as it took up “$875 million stake in Authentic Brands Group LLC” and became the “the largest investor in the U.S.-based entertainment company”.
The Head of Long Term Private Capital, André Bourbonnais was quoted saying:
“The fund itself put $625 million and we have another $250 million that is coming from related entities and co-investors”.
Last April, BlackRock broke the news of starting its investments in “long-term private capital” which held “$2.75 billion in capital committed from cornerstone investors at the time”. The deal was revealed last week firstly by Wall Street Journal which valued “Authentic Brands Group” at over “$4 billion” that also included debt figures, while the journal cited “unnamed sources” for the information. The “Alternative Investors” section of BlackRock harbours LTPC for overseeing “real assets, private equity and private credit” related investments.
While Reuters added:
“The rise of BlackRock, the world’s largest asset manager, has been fueled by the explosive growth in exchange-traded funds and index funds as investors shift to cheaper funds that mimic stock and bond indexes. But as fund fees race to the bottom, BlackRock is looking at newer revenue sources”.

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