Latest updates in the world of private equity this week
In the world of professional tennis and high-end fashion, there's a flurry of activity as significant assets change hands and potential deals are on the horizon.
The prestigious tennis tournaments up for sale have attracted the attention of multiple bidders, with the sale process being managed by The Raine Group. Among the interested parties is Ari Emanuel, a Hollywood talent agent-turned-executive, who is reportedly in competition with CVC Capital Partners for control of these assets. Goldman Sachs is advising on Ari Emanuel's bid for the tennis assets.
The tennis assets up for grabs include some of the most coveted tournaments in the sport, such as the Barcelona Open and the pre-Wimbledon event at London's Hurlingham Club. Notably, the Miami Open and Madrid Open are also part of the portfolio.
Meanwhile, in the realm of luxury fashion, Prada is nearing a deal to acquire Versace for nearly €1.5b. If the deal goes through, it could be one of the biggest shake-ups in Italian luxury, reshaping the landscape of the fashion industry. The deal between Prada and Versace's parent company, Capri Holdings, is expected to be finalized this month, provided talks remain on course.
On a separate note, Garnett Station Partners (GSP) has closed its latest private equity fund, GSP 5.0, at $1.2bn. The strategy with Fund 5 is to partner with founders and management teams to scale businesses across sectors like consumer and business services, health & wellness, automotive, and food & beverage. With the closure of GSP 5.0, Garnett Station's total assets under management are over $3.5bn.
While specific details on GSP's current strategy with their GSP 5.0 fund are not publicly available, it is known that their strategy involves partnering with founders and management teams to scale businesses across various sectors. For accurate and up-to-date information on their strategy, it is recommended to consult official GSP communications such as press releases, their website, or industry reports covering their fund launch and investment focus.
These developments promise an exciting time for both the tennis and luxury fashion industries, with potential changes in ownership and strategic partnerships on the horizon. Stay tuned for more updates as these stories unfold.
In the world of professional tennis and luxury fashion, the race for significant assets is ongoing, with deals potentially reshaping these industries. The Raine Group manages the sale of prestigious tennis tournaments, attracting bids from Ari Emanuel and CVC Capital Partners, with Goldman Sachs advising on Emanuel's bid. Notable tennis tournaments up for grabs include the Barcelona Open, Miami Open, and Madrid Open. In luxury fashion, Prada is on the brink of acquiring Versace, a deal that could cause a major shake-up in Italian luxury. In the realm of private equity, Garnett Station Partners (GSP) has concluded their GSP 5.0 fund at $1.2bn, targeting strategic partnerships with founders and management teams across various sectors like consumer and business services, health & wellness, automotive, and food & beverage. These developments underscore a thrilling time for both industries, filled with potential changes in ownership and investment.
