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Eldridge Industries LLC is a private investment firm headquartered in Greenwich, Connecticut, with offices in New York, London and Beverly Hills.[1][2][3][4][5] The firm invests across diversified industries with a focus on asset management and leasing; food, convenience, and consumer experiences; real estate lending and development; retirement income, insurance, and insurance technology; sports and media.[1][6][7][8][9]

Eldridge Industries, LLC
Private investment
Founded2015; 4 years ago (2015)
FounderTodd Boehly
HeadquartersGreenwich, Connecticut, U.S.[1]
Websiteeldridge.com

HistoryEdit

Eldridge was formed in 2015 by CEO and Chairman Todd Boehly and President Anthony D. Minella, after Boehly purchased several media properties controlled by Guggenheim Partners.[8][4]

Eldridge has invested in businesses including Security Benefit Life Insurance, London-based real estate firm Cain International, media entity Valence Media, CBAM, an SEC-registered investment advisor; Stonebriar Commercial Finance, and NPC International, operator of Wendy’s and Pizza Hut units in the U.S.[10][11][12][13][14][15][16]

In March 2017, Eldridge led a round of funding estimated at over $100 million for DraftKings, a daily fantasy sports contest provider.[2][17] The firm also provided financing to Prescient, a building technology platform, for $50 million in July 2018.[18]

Eldridge seeded Essential Properties Realty Trust, a REIT that went public in June 2018 under the symbol NYSEEPRT.[19]

In 2018, Eldridge also became a partner for the Global Citizen Festival, which is being held in South Africa to honor the life and legacy of Nelson Mandela in his centenary year.[20]

Media holdingsEdit

In 2015, Eldridge put some of its media properties up for sale, including Adweek and the Clio Awards.[21] Adweek was sold a year later to Beringer Capital, a private equity firm that invests in digital media and marketing services.[22] The Clio Awards, a 58-year-old ad industry event, was sold to investment company Evolution Media in 2017.[23]

In December 2016, Billboard-Hollywood Reporter Media Group purchased the music publications Spin, Stereogum and Vibe from SpinMedia for an undisclosed amount.[24]

In February 2018, Eldridge announced it would be consolidating three of its entertainment properties into a new company, Valence Media. The properties included Media Rights Capital (MRC), an independent movie and TV production company; Dick Clark Productions, producer of the Golden Globe Awards and American Music Awards; and the Billboard-Hollywood Reporter Media Group, which includes The Hollywood Reporter and Billboard industry trade publications.[11][25][26]

MRC’s co-founders Asif Satchu and Modi Wiczyk serve as co-CEOs of Valence and Boehly serves as Chairman.[25][27] Valence also owns a minority stake in film distributor A24.[26]

ReferencesEdit

  1. ^ a b c "Company Overview of Eldridge Industries LLC". Bloomberg L.P. August 16, 2018.
  2. ^ a b "Dodgers' Boehly Leads $100 Million DraftKings Investment". Bloomberg. Retrieved 10 March 2017.
  3. ^ "About Us". Eldridge.com.
  4. ^ a b "Eldridge Industries". Crunchbase. Retrieved September 2, 2018.
  5. ^ "Dodgers Co-Owner Takes Stake in Beverly Hilton Hotel". Bloomberg L.P. August 17, 2018.
  6. ^ "Guggenheim Prepares To Sell Hollywood Reporter, Dick Clark Productions To Exec". Deadline.com. Retrieved 18 December 2015.
  7. ^ "Guggenheim Media Spins Off Money-Losing Hollywood Reporter, Billboard to Company President Todd Boehly (Exclusive)". The Wrap. Retrieved 18 December 2015.
  8. ^ a b "Hollywood Reporter Parent Company Spins Off Media Assets to Executive". The Hollywood Reporter. Retrieved 3 January 2016.
  9. ^ "Conn. PE Firm Eldridge Closes $1.4B In Funding". Law360. April 15, 2019.
  10. ^ Leon Lazaroff (February 23, 2017). "Dick Clark Productions Deal Expected to Close in Coming Weeks". TheStreet.com.
  11. ^ a b Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company". Variety. Retrieved 2018-03-29.
  12. ^ John Gittelsohn and Patrick Clark (August 17, 2018). "Dodgers Co-Owner Takes Stake in Beverly Hilton Hotel". Bloomberg L.P.
  13. ^ Glen Fest (November 17, 2017). "CLO Roundup: CBAM marketing its fourth $1B CLO of the year". American Banker.
  14. ^ "Stonebriar Commercial Finance Closes a $20 million Turn-Key Facility Lease". Stonebriar Commercial Finance. January 8, 2018.
  15. ^ Ron Ruggless (June 28, 2018). "NPC restructures, names Steve Layt to head Pizza Hut division". Nation's Restaurant News.
  16. ^ "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". Barron's. April 12, 2019.
  17. ^ Curt Woodward (March 9, 2017). "Another $100 million in financing for DraftKings". The Boston Globe.
  18. ^ Iris Dorbian (July 23, 2018). "Prescient snags $50 mln Series E". PE Hub.
  19. ^ Kristy Westgard (June 21, 2018). "'Retail Apocalypse' Didn't Scare This Landlord Off an IPO". Bloomberg L.P.
  20. ^ Lexy Perez (July 9, 2018). "Beyonce, Jay-Z Among Headliners at Global Citizen Festival Honoring Nelson Mandela Centennial". The Hollywood Reporter.
  21. ^ Keith J. Kelly (May 31, 2016). "AdWeek, Clio Awards put up for sale". New York Post.
  22. ^ "Adweek acquired by private equity firm Beringer Capital". TechCrunch. Retrieved 19 July 2016.
  23. ^ "Clio Awards Acquired by Global Investment Firm Evolution Media". Adweek. Retrieved 2018-03-29.
  24. ^ "Hollywood Reporter-Billboard Group acquires Spin, Vibe and Stereogum". The Los Angeles Times. December 23, 2016. Retrieved December 13, 2018.
  25. ^ a b Faughnder, Ryan. "'House of Cards' producer MRC merges with Dick Clark Productions and Hollywood Reporter publisher". Los Angeles Times. Retrieved 2018-03-29.
  26. ^ a b Diane Haithman (February 2, 2018). "Billboard-Hollywood Reporter, Dick Clark Productions and MRC Merge as Valence Media". Los Angeles Business Journal.
  27. ^ Tony Maglio (February 1, 2018). "THR to Combine With Dick Clark Productions, 'House of Cards' Studio in New Todd Boehly Banner". TheWrap.

External linksEdit