Private equity powerhouse BlackRock has made a big $875 million investment and became the largest shareholder of a company that owns Sports Illustrated, Nine West, Juicy Couture and dozens of other brands
New York Private equity powerhouse BlackRock made a big $875 million investment and became the largest shareholder of a company that owns Sports Illustrated, Nine West, Juicy Couture and dozens of other brands.
The deal, which was first reported Sunday by the Wall Street Journal, closed on Friday, a BlackRock spokesperson confirmed to CNN Business.The investment is the first for BlackRock's new private-equity fund, Long Term Private Capital, which the company said in April was ready to start investing after securing $2.75 billion. That fund will account for $625 million of the total investment in Authentic Brands Group.
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