WHP Global, a NYC-based new brand management platform, received a $200m equity investment from funds managed by Oaktree Capital Management, L.P.
Led by Chairman & CEO Yehuda Shmidman, WHP is to acquire and manage multiple global consumer brands, leveraging a shared platform to gain competitive advantages at scale and accelerate growth for each distinctive brand in its portfolio.
The company, which plans to deploy up to $1 billion in capital over the next five years, also announced its first acquisition with the purchase of global fashion brand Anne Klein from Premier Brands Group.
An iconic legacy women’s fashion brand founded in 1968, Anne Klein serves women around the world with classic American style. The brand currently generates over $700 million in global retail sales with product distributed by partners including Steve Madden for footwear and handbags, Kasper Group for sportswear, and E. Gluck for watches.
As part of WHP, Anne Klein will continue to focus on driving growth with key retailers in the US, including Macy’s, as well as identifying new categories and expanding globally.
WHP plans to invest in marketing, social media and digital commerce to drive increased brand engagement.
Prior to WHP, Yehuda Shmidman held several c-suite roles in the brand management industry, where he raised and invested nearly $2 billion of institutional capital in fashion, home, entertainment and consumer brands. He is the founder of Wave Hill Partners, a corporate business development advisory firm, and currently serves as Vice Chairman for the parent company of Toys”R”Us.
Debt financing for the acquisition was provided by BlackRock Private Credit, including TCP Capital Corp., BlackRock Capital Corp. and certain private investment funds.