Fund group Azimut joins Hollywood investors seeking to find deals through the famous
Private equity investors are putting their money behind celebrities, betting on their star power and connections to uncover new opportunities and boost early-stage companies in need of exposure.
The latest deal was announced on Tuesday when a $12bn fund controlled by the Milan-based asset manager Azimut Group agreed to buy a 10 per cent stake in BroadLight Holdings, a company with Hollywood ties.
Blackstone Group, the world’s largest private equity investor, took a similar approach when it invested about $2bn in Candle Media, a film production platform company co-founded by Kevin Mayer and Tom Staggs, two Hollywood executives.
Read more: FT
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