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KKR to Acquire San Francisco-Based Bay Club.

M2 EQUITYBITES-July 27, 2018-KKR to Acquire San Francisco-Based Bay Club


27 July 2018 - New York, US-based investment firm KKR (NYSE: KKR) has agreed to acquire California, US-based lifestyle and hospitality company The Bay Club Company from York Capital Management and minority investors, including JMA Ventures and Roxborough Group, the company said.

Financial details of the transaction were not disclosed. KKR is making the investment through separately managed accounts and its balance sheet.

Bay Club said in partnering with KKR, it can build even further, offering its model to more communities across the country.

KKR is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds.

York Capital Management is a global private investment firm that manages approximately USD 18bn in assets across public and private investment strategies, including its private equity platform, the York Special Opportunities Fund, which owns Bay Club. York Capital employs approximately 60 investment professionals and 200 total employees globally, located primarily in New York, London, and Hong Kong.

Headquartered in San Francisco, California, The Bay Club company is an active lifestyle and hospitality company with a network of experiential campuses that welcome more than 50,000 members.

Bay Club is being advised by Morgan Stanley and Co. LLC as lead financial advisor, North Point Advisors LLC as co-financial advisor, and Skadden, Arps, Slate, Meagher and Flom and Brownstein Hyatt Farber Schreck, LLP as legal advisors. Simpson Thacher and Bartlett is serving as legal advisor to KKR.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U9CA
Date:Jul 27, 2018
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