WASHINGTON, Aug. 14, 2018 /PRNewswire/ -- The Stagwell Group
and AlpInvest Partners today announced the completion of a
$260 million capital raise by Stagwell Media LLC from
investment funds managed by AlpInvest Partners, a global private
equity investor. Since its founding in 2015, Stagwell Group
has completed seventeen investments and is on track for more than
$400 million in consolidated net
revenue this year. The new investment will support Stagwell's
strategy of building a network of innovative marketing and research
companies.
"The marketing landscape is in the midst of a dramatic
transformation and we are excited to have AlpInvest support our
mission in creating a network of strategists and tacticians that is
nimble and digital-centric, building a go-to resource for brands
looking to succeed in today's complex marketplace," said
Mark Penn, Managing Partner of the
Stagwell Group. "We created Stagwell as a meaningful alternative to
the holding companies, aptly named, since they have long been
holding brands back from delivering on their full potential in a
digital-first world."
"Stagwell has demonstrated a superior operating model.
Over the past three years, Mark and his team have built a highly
attractive portfolio of world class digital-first marketing
companies that drive significant results for brands," said
Michael Hacker, Managing Director,
AlpInvest Partners.
"We are thrilled to support Stagwell through this secondary
transaction at a key a moment in their development, as their
portfolio continues to expand rapidly with exciting new
capabilities and geographic reach that will allow Stagwell to
compete on a global basis," said Julian Rampelmann, Managing
Director, AlpInvest Partners.
Management of the Stagwell Group remains the same. Further
details of the transaction were not announced.
Mercury Capital Advisors served as the exclusive financial
advisor to the Stagwell Group.
About The Stagwell Group
The Stagwell Group LLC (the "Stagwell Group") is a registered
investment advisory company formed by Mark
Penn. The Stagwell Group manages a private equity fund whose
portfolio includes more than a dozen collaborative, digital-first
agencies. Stagwell's portfolio of high growth companies include
digital marketing agency Forward 3D Group, media innovator MMI
Agency, healthcare and consumer experts SCOUT, research leader
Harris Insights & Analytics, performance marketing firm PMX
Agency, creative digital leader Code and Theory, strategic
communications agency SKDKnickerbocker, telecommunications
researchers HarrisX, entertainment research innovator National
Research Group (NRG), public relations firm Finn Partners,
communications agency Wye Communications, digital advocacy shop
Targeted Victory, creative advertising consultancy Wolfgang,
creative agency Observatory, online reputation management firm
Reputation Defender and technology innovator Stagwell Technologies.
Online at www.stagwellgroup.com.
About AlpInvest Partners
AlpInvest is a leading global private equity investor, with more
than $45 billion of assets under
management as of June 30, 2018 and
more than 150 employees across offices in New York, Amsterdam, Hong
Kong, San Francisco and
Indianapolis. Since its inception, AlpInvest has invested
with over 350 managers and committed $62
billion across over 640 primary commitments to private
equity funds, more than 125 secondary transactions and in excess of
230 equity co-investments. AlpInvest offers customized private
equity investment solutions to investors through separately managed
accounts and commingled funds. AlpInvest operates as a subsidiary
of The Carlyle Group (NASDAQ: CG), a global alternative asset
manager with $210 billion of assets
under management as of June 30, 2018.
For more information, please visit www.alpinvest.com.
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SOURCE The Stagwell Group LLC