Authentic Brands Group Inc. has raised $500 million from growth-equity investor General Atlantic.
The transaction values the owner of fashion brands and celebrity rights at over $20 billion, said people with knowledge of the matter who asked not to be identified discussing private information. A representative for Authentic Brands declined to comment on the valuation.
Led by Canadian billionaire Jamie Salter, Authentic Brands is one of the most acquisitive buyers of apparel, consumer and celebrity brands, with a portfolio that includes the rights to Sports Illustrated as well as boxing legend Muhammad Ali and European football great David Beckham.
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