NEW YORK, Dec. 19, 2024 -- King Street Capital Management, ("King Street") a leading global alternative investment firm, today announced that it is leading a $250 million financing for Collēctīvus Holdings ("Collēctīvus"), the holding company overseeing the most prestigious brands in the collecting, trading card game (TCG) and hobby industries. Funds and accounts managed by HPS Investment Partners ("HPS") and funds managed by Oaktree Capital Management, L.P. ("Oaktree") also participated in the financing.
The refinancing will provide Collēctīvus with a sustainable capital structure following its recent establishment as the parent company to three brands – Beckett Media & Collectibles, the premier grading and authentication company, Southern Hobby Distribution, the industry's leading sports collectible and card gaming distributor, and Dragon Shield, the premier TCG accessory creator. Led by CEO Kevin Isaacson, Collēctīvus will use the capital to further invest in its portfolio, allowing it to reach its full growth potential across its three business lines.
"We are excited to partner with Kevin and the Collēctīvus management team to support the company as it expands its market leading position across its three verticals," said Noah Charney, Managing Director and Head of Capital Solutions at King Street. "This financing solution will provide Collēctīvus with capital for expansion and the flexibility to meet its business objectives."
"As we embark on this new chapter, we are thrilled to have the support of King Street, HPS and Oaktree," said Isaacson. "This financing will allow us to build on the great momentum we've experienced, which culminated in the establishment of our new parent company, and we look forward to continuing our growth trajectory under the Collēctīvus banner."
This investment will be led by King Street's Opportunistic Credit Strategy, which targets senior and performing lending opportunities across industries and geographies, focusing on the capital vacuum between direct lending and distressed capital. This includes capital solutions for companies that require flexible, non-traditional capital, leveraging King Street's global platform and structuring capabilities.
Collēctīvus was advised by Jefferies LLC and Proskauer Rose LLP. King Street, HPS and Oaktree were represented by Paul Hastings LLP.
About King Street Capital Management
King Street is a global alternative investment firm founded in 1995 that manages more than $27 billion in assets across public and private markets. The firm marries rigorous fundamental research with tactical trading and differentiated sourcing capabilities to identify misunderstood and complex investment opportunities across asset classes, up and down the capital structure. For more information, please visit www.kingstreet.com.
About Collēctīvus Holdings
Collēctīvus Holdings guides many of the most prestigious brands in the Collecting, Trading Card Game, and Hobby industries. With a century's worth of collective experience in driving product and service innovation, high-end quality standards, and elevated customer experience, Collēctīvus brands are among the most recognized and loved throughout the world by the communities they serve. To find out more about Collēctīvus Holdings, visit our website at CollēctīvusHoldings.com.
About HPS Investment Partners
HPS Investment Partners, LLC is a leading global, credit-focused alternative investment firm that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for our clients. We manage various strategies across the capital structure, including privately negotiated senior debt; privately negotiated junior capital solutions in debt, preferred and equity formats; liquid credit including syndicated leveraged loans, collateralized loan obligations and high yield bonds; asset-based finance and real estate. The scale and breadth of our platform offers the flexibility to invest in companies large and small, through standard or customized solutions. At our core, we share a common thread of intellectual rigor and discipline that enables us to create value for our clients, who have entrusted us with approximately $148 billion of assets under management as of September 2024. For more information, please visit www.hpspartners.com.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $205 billion in assets under management as of September 30, 2024. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 23 cities worldwide. For additional information, please visit Oaktree's website at http://www.oaktreecapital.com/.
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