TPG / Cirque du Soleil
Canada’s iconic entertainment company, Cirque du Soleil, is bounding its way to new markets. Global private investment firm TPG Capital Management L.P. said April 20 it will acquire a majority stake in the company for an undisclosed amount. In addition, Fosun Capital Group, a Chinese privately owned investment group, is buying a minority of the circus along with the Caisse de dépôt et placement du Québec, also for an undisclosed amount.
“We have now found the right partners … to take Cirque du Soleil forward to the next stage in its evolution as a company founded on the conviction that the arts and business, together, can contribute to making a better world,” Cirque founder Guy Laliberté said. Laliberté said he will maintain a stake in the business and provide strategic and creative input. The deal is expected to close in the third quarter of this year.
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