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Authentic Brands Group secures new funding

Brand house Authentic Brands Group (ABG) has received €875m (£724.4m) in funding from its now largest investor, private equity fund BlackRock Long Term Private Capital (LTPC).

The investment will support ABG’s worldwide expansion plans and platform evolution.

ABG founder and CEO Jamie Salter said: “BlackRock’s scale, global footprint and digital capabilities will enable us to build out our organisation and continue our domestic and international growth trajectory.

“This investment marks an important next phase of expansion for ABG.”

Under the new partnership, BlackRock will work alongside ABG’s management, including Salter and chief marketing officer Nick Woodhouse.

ABG currently owns more than 50 fashion and lifestyle brands, including Juicy Couture, Tretorn, Hervé Léger and Nine West.

BlackRock joins existing ABG investors including founding investor Leonard Green & Partners, General Atlantic, Lion Capital, Simon Property Group, Brookfield Properties’ retail group and basketball player Shaquille O’Neal.

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