A consortium of investors, led by Maverick Carter and advised by UBS Group AG and Evercore, is seeking to raise $5bn to launch a global basketball league.
The league will feature six men’s and six women’s teams playing in eight cities worldwide. Singapore is one of the potential host cities, according to sources.
The backers include Skype Co-Founder Geoff Prentice, former Facebook Executive Grady Burnett, and SC Holdings, led by Jason Stein and Daniel Haimovic. Inspired by Formula 1, the league’s rotating schedule aims to build a global fan base.
Read more: https://pe-insights.com/investors-target-5bn-to-launch-global-basketball-league-competing-with-the-nba/
Goldman Sachs unveiled its Capital Solutions Group, a new division aimed at strengthening its focus on financing solutions for private equity sponsors.
The group combines the firm’s corporate finance, leveraged finance, and equity capital markets teams into one unit.
The new group aims to provide tailored solutions for private equity firms. These include innovative financing options across debt, equity, and hybrid instruments. By streamlining services, Goldman Sachs hopes to make capital raising and deal execution more efficient for its private equity clients.
Read more: https://pe-insights.com/goldman-sachs-launches-capital-solutions-group-to-boost-private-equity-financing/
Kering, the luxury group behind Gucci and Saint Laurent, has sold 60% of its stakes in three prime Paris properties to French private equity firm Ardian for €837m.
The properties, located in Place Vendôme and Avenue Montaigne, house flagship stores for Balenciaga, Valentino, and Boucheron. Kering will retain 40% ownership and secure its brands’ continued presence in the spaces.
The sale allows Kering to free up capital while keeping control of key retail locations. Ardian’s real estate head Stéphanie Bensimon described the deal as “transformative” for luxury brands’ real estate strategies. The transaction is set to close in early 2025.
Read more: https://pe-insights.com/gucci-owner-sells-e837m-stakes-in-paris-properties-to-private-equity-firm-ardian/
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