Weekly Updates in Private Equity Sector
Goldman Sachs and the NBA's European Basketball League
Goldman Sachs, a leading global investment bank, is set to play a significant role in the launch of the NBA's new European basketball league. The bank is leading a €2.5 billion funding consortium for the league, with €1.5 billion earmarked for the purchase of Versace from Capri Holdings.
The remaining €1 billion will be allocated to revive Versace's performance post-acquisition. This investment is part of Goldman Sachs' broader strategy to expand its alternatives platform and compete more directly with leading alternative asset managers like Blackstone, Apollo, and KKR.
The NBA, on the other hand, will retain a 50% equity stake in the league. Franchise valuations for the new league are expected to start at $500 million, making it an attractive proposition for potential investors. The league's targeting of new investors paves the way for private equity firms, sovereign wealth funds, and institutional capital to enter the NBA's arena.
It's worth noting that while Goldman Sachs played a role as a broker in stock sales related to Capri Holdings (the previous owner of Versace), it did not publicly provide private equity funding for Prada’s acquisition of Versace or announce fund expansion related to this transaction.
Goldman Sachs has also launched a new open-ended private equity fund called G-PE, which allows high-net-worth individuals to invest in buyout, growth, secondary, and co-investment deals. The bank aims to capture a larger share of private market inflows with this strategy.
The new league is not the only initiative Goldman Sachs is involved in. The bank is also active as a financial advisor and investor in various sectors. However, publicly available sources do not show Goldman Sachs providing private equity funding to Prada for this particular acquisition or expanding its private equity fund in connection to it.
In conclusion, Goldman Sachs' involvement in the NBA's European basketball league and the acquisition of Versace by Prada are two separate but interconnected events. While Goldman Sachs did not provide private equity funding for the acquisition, its role as a financial advisor and the launch of its new private equity fund, G-PE, are significant steps in its broader strategy to expand its alternatives platform.
- The new open-ended private equity fund launched by Goldman Sachs, G-PE, allows high-net-worth individuals to invest in a variety of deals including buyout, growth, secondary, and co-investment deals.
- Goldman Sachs is leading a funding consortium for the NBA's new European basketball league, with a significant portion allocated for the purchase of Versace from Capri Holdings.
- While Goldman Sachs played a role as a broker in stock sales related to Capri Holdings, it did not publicly provide private equity funding for Prada’s acquisition of Versace or announce fund expansion related to this transaction.
- The NBA's new league targets new investors, paving the way for private equity firms, sovereign wealth funds, and institutional capital to enter the NBA's arena.
- Goldman Sachs aims to capture a larger share of private market inflows with strategies like the launch of G-PE and expanding its alternatives platform to compete with leading alternative asset managers.
- Franchise valuations for the new NBA league are expected to start at $500 million, making it an attractive proposition for potential investors in the PE sector.
