BlackRock Is Said In Talks to Sell Authentic Brands Group Stake

An investor group including CVC Capital Partners, General Atlantic, HPS Investment Partners and Leonard Green & Partners is in talks to buy BlackRock Inc.’s equity stake in Authentic Brands Group, according to people with knowledge of the matter.

The firms — all existing investors in Authentic Brands Group — are discussing terms that could value the stake at $3 billion or more, said the people, who asked not to be identified discussing confidential information. BlackRock’s Long-Term Private Capital Fund paid $875 million for the stake in 2019. A transaction hasn’t been finalized yet and the terms ...