Serious GIC nothing better to do , invest in WME

[steffychun]

INGAPORE - GIC, Singapore's sovereign wealth fund, and the Canada Pension Plan Investment Board (CPPIB) are investing a combined US$1 billion (S$1.36 billion) in US entertainment, sports and fashion agency WME-IMG.

The agency owns and operates hundreds of events, including the Ultimate Fighting Championship (UFC), Miss Universe and Miss USA beauty pageants and New York Fashion Week. WME-IMG, which is led by co-CEOs Ari Emanuel and Patrick Whitesell, spent over US$4 billion to purchase the UFC last July.

GIC and CPPIB will join current investors Silver Lake, SoftBank and Fidelity as WME-IMG strategic partners, said the announcement on Thursday (Aug 3).

In a separate letter to its investors, Silver Lake said the new investment will make it possible to buy out some minority partners in the UFC and to allow some of WME-IMG's senior management and investors to take cash out. The investment is also intended to enable further acquisitions.
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The latest cash infusion values the agency at US$6.3 billion, an increase from its US$5.5 billion valuation in 2016.

Silver Lake, a global leader in technology investing, will continue its strategic partnership with WME-IMG, which began with its first investment in WME in 2012, maintaining the entirety of its equity stake.

"GIC is committed to supporting WME-IMG's continuing innovation, industry leadership and international expansion," said Eric Wilmes, managing director of private equity at GIC.

"WME-IMG has demonstrated a capacity to grow and diversify in an increasingly complex environment for sports, entertainment and fashion globally. As a long-term investor, GIC believes the company will benefit from the strong trend of consumers demanding quality content."

***

PAP like Boxing ah?

 

[shittypore]

All tos Ang Moh working at WME laughing to the Bank, big sucker do come along.

 

[scroobal]

This surprised me. I also note that the Canadian Pension also joined in. Even more interesting is that the investment will help the current owners to cash out on some portion of their holdings. The underlying business that drives these earning are the broadcasting and endorsement revenue that contributes to the 20 odd % commission.

 

[gatehousethetinkertailor]

Abit of a spree being reported:

Stone Island Sells 30% Stake to Temasek
The investment from Singapore-based Temasek, for an undisclosed sum, will support the Stone Island brand's global expansion.

RAVARINO, Italy —Singapore's sovereign wealth fund Temasek is to acquire a 30 percent stake in Stone Island for an undisclosed sum.

It is the latest fashion investment for the company, which last year contributed to Farfetch's $110 million Series F funding round, and has also invested in Moncler and Dufry. It is understood that the investment will help the Italian men's sportswear brand expand its reach globally.

Stone Island's parent firm, Sportswear Company S.p.A., shared news of the agreement in an announcement on Monday. “I am truly satisfied for this partnership with one of the world’s most established investment companies," said Carlo Rivetti, Sportswear Company's founder and majority shareholder. "I particularly appreciate Temasek’s investment strategy to participate in companies with strong growth potential, know-how and identity."

Rivetti, who is both president and creative director of Stone Island, also highlighted Temasek's agreement to guarantee the continuity and the autonomy of the Stone Island management team, which he says "has proven to successfully face and overcome our sector’s challenges."

"With this operation I wanted to both capitalise on the work done in 35 years and to team with a partner to face the increasingly complex opportunities proposed by the markets," Rivetti said. "I am confident that the brand Stone Island will keep on with increased success its development, being able to count on a competent and attentive partner to the specifics of our business and with strong international relations.”

Stone Island was founded in 1982 by Massimo Osti whose now famous jackets were the result of an experiment with the same coated canvas used for military tarps. The company was acquired in 1983 by GFT, Rivetti's family firm, which was one of the largest apparel manufacturers in Italy and later became Sportswear Company.

In 2015, Stone Island generated €87 million ($97 million) in global sales revenue, a 10 percent increase on 2014. Revenues for 2016 were reported to be at €109 million, 26 percent up on the previous year.

Stone Island is one of the first brands to blur the boundaries between technical wear, streetwear and high-fashion. Its collaborations with Supreme and Nike, as well as stockists like Kith, have helped cement its place at the heart of the streetwear sector.

Editor's Note: This article was revised on 1st August 2017. An earlier version of this article said that Stone Island was founded in 1974. This is incorrect; Stone Island was founded in 1982.

 

[steffychun]

This surprised me. I also note that the Canadian Pension also joined in. Even more interesting is that the investment will help the current owners to cash out on some portion of their holdings. The underlying business that drives these earning are the broadcasting and endorsement revenue that contributes to the 20 odd % commission.

Surprises are common now

 

[scroobal]

The writing was on the wall when their former Head of Legal decided his long career with them was over and moved to legal practice and now sits comfortably and conscious free on the High Court Bench.

 

[steffychun]

All together, HUAT AH (not!)

 

[Brightkid]

It seems to me that these 'investment' managers in Temasek are assessed based only on how fast and how much they can place out their funds, but not assessed on how well the investments are performing there after?

If so, it is not surprising they will try very hard to convince and get approval from top to issues the funds to any company that will take them. Thereafter losses are just too bad for the peasants in SG. Hence no one in Temasek bats an eyelid even when losses are in billions!

 

[no_faith]

USA no money will demand their sub country to pay tribute in the way of buying dying companies.

 

[frenchbriefs]

when is GIC going to open fund to investors?i wanna share and partake in their sixteen percent annual returns/profits.

 

[steffychun]

when is GIC going to open fund to investors?i wanna share and partake in their sixteen percent annual returns/profits.

They will continue to close funds