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Ulrich’s Anchorage Capital Scores $2 Billion Win on MGM Deal (2)

May 26, 2021, 9:18 PM

Kevin Ulrich’s Anchorage Capital Group is set to make a profit of about $2 billion in the sale of movie company Metro-Goldwyn-Mayer to Inc., according to people with knowledge of the matter.

The investment firm holds a roughly 30% stake in the company that’s worth about $2.5 billion in the sale, said the people, who asked not to be identified discussing a private matter. Anchorage invested around $500 million in MGM over a decade ago and helped restructure the company in bankruptcy.

Kevin Ulrich
Photographer: Michael Loccisano/Getty Images

Including the MGM investment, Anchorage’s flagship fund is up 18% this year, the people ...

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