The American asset manager BlackRock takes an interest in the company behind Sports Illustrated, the sports magazine that is best known for its bikini edition and the election for athlete of the year. Blackrock counts $ 875 million for the share in Authentic Brands Group, reports Bloomberg news agency based on insiders.
Authentic Brands Group also has a whole range of other brands in the entertainment and fashion industry. The company is worth about 4 billion dollars worth in total. The investment of BlackRock, the largest asset management in the world, is in line with the strategy of being less dependent on funds that follow indexes and opting more for investments that can be held for longer.
BlackRock replaces Leonard Green & Partners as the largest shareholder. Leonard Green & Partners does hold a minor stake.