Authentic Brand Funding: Authentic Brands is raising $500 million in funding from General Atlantic.

Authentic Brands Group has raised $500 million from its existing investor General Atlantic, bringing the private equity firm’s investment in the clothing chain operator to nearly $2 billion.

Funding announced Thursday highlights resurgence private finance market after a tough 2022.

Hopes that an easing of rate hikes in the United States will prevent the economy from sliding into a protracted and severe recession helped investors regain some of their appetite for risk.

Authentic did not disclose the valuation at which the final funds were raised, but a report by Bloomberg News previously said the round valued owner Aeropostale at $20 billion.

Nearly four months after filing for an IPO in 2021, Authentic Brands sold stakes to private equity firms CVC Capital Partners and HPS Investment Partners as part of a fundraiser, bringing the venture to $12.7 billion.

A few months later, in early 2022, Authentic shelved its listing plans even before the U.S. central bank began its monetary tightening campaign.

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The New York-based company’s empire spans more than 40 brands, including Forever 21, Sports Illustrated, and the intellectual property rights of Marilyn Monroe, Elvis Presley, Muhammad Ali and Shaquille O’Neal. “Looking ahead, we believe that Authentic is positioned to further diversify across categories, licensing partners, geographies and distribution channels,” Andrew Crawford, managing director and global head of customer experience at General Atlantic, said in a statement.

Authentic’s investors include some of the biggest names in private equity and asset management, including BlackRock, Leonard Green & Partners and Canada’s Brookfield.

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