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Hilco and TPG Angelo Gordon launch JV in partnership with Bluestar

Hilco Global (Hilco) and TPG Angelo Gordon have formed a new joint venture that will identify, acquire, and finance consumer brands and IP in partnership with Bluestar Alliance (Bluestar).

In connection with the launch, the venture has completed a series of inaugural transactions, including an approximately $190m investment in a securitisation transaction established by BR Brand Management, a subsidiary of B Riley Financial, financing certain brands managed, licensed, and co-owned by Bluestar, including Hurley, Justice, and Scotch & Soda, among others.

In addition, the JV has made a co-investment with Bluestar to acquire the international luxury streetwear brand, Off-White, from LVMH, and has also acquired the assets and IP of the bebe and Brookstone brands from bebe stores. Since 2018, bebe stores has owned the intellectual property assets and Bluestar has managed the bebe and Brookstone brands.

The venture will also seek to continue to acquire or finance additional consumer brands and IP, alongside Bluestar.

Weil, Gotshal & Manges will serve as legal counsel to Hilco Global, Milbank will serve as legal counsel to TPG Angelo Gordon, and King & Spalding and Cooley LLP will serve as legal counsel to Bluestar.

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