Private equity firms CVC Capital Partners and HPS Investment Partners, agreed to acquire a majority stake in Authentic Brands Group, a global brand development, marketing and entertainment company, in a $12.7bn deal. "We have known CVC and HPS for many years and are thrilled that they are coming on board as significant stakeholders in ABG. Their commitment is a testament to the exceptional work our team has put forth as well as CVC and HPS’s confidence in our future growth. The entire ABG team - from our leadership to the director of first impressions - has done an incredible job of building a sustainable and scalable business with a laser focus on brand development, digital innovation, e-commerce, specialty retail, expansion into new verticals and proven business models," Jamie Salter, ABG Founder, Chairman and CEO.