Blackstone investing $250m in Future Lifestyle Fashions

Blackstone is expected to take 6-7% holding in the Future Group.
Future Lifestyle Fashions

Blackstone, the world’s largest private equity firm, is investing about $250 million in Kishore Biyani-led Future Lifestyle Fashion. Blackstone is expected to take 6-7% holding in the Future Group.

Future Lifestyle Fashion owns supermarket chains like Bigbazaar, Brand Factory, EasyDay and more. 

The funding is slated to be through a combination of equity and structured debt. The capital will be used for the expansion of Biyani’s deep-discount retail format Brand Factory.  

Future Lifestyle Fashions is backed by Singapore-headquartered L Catterton and PremjiInvest, L&T Mutual Fund and LIC. L Catterton and PremjiInvest own around 17% in the company, while L&T Mutual Fund and LIC hold 4 and 6.5, respectively. On the other hand, Biyani and his family currently hold 53.43% in the company through different entities.

Future Lifestyle Fashions is operating more than 300 stores across 90 cities in India. 

 
 
 
 
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