| Type | Private investment |
|---|---|
| Founded | 2015 |
| Founder | Todd Boehly |
| Headquarters | Greenwich, Connecticut, U.S.[1] |
| Website | eldridge |
Eldridge Industries LLC is a holding company headquartered in Greenwich, Connecticut, with offices in New York, London, and Beverly Hills.[1][2][3][4][5] The firm invests across diversified industries with a focus on credit; technology; consumer experiences; real estate; insurance; sports and media.[1][6][7][8][9]
Eldridge was formed in 2015 by CEO and Chairman Todd Boehly, President Anthony D. Minella, and General counsel Duncan Bagshaw,[10][11] after Boehly purchased several media properties controlled by Guggenheim Partners.[8][4]
In March 2017, Eldridge led a round of funding estimated at over $100 million for DraftKings, a daily fantasy sports contest provider.[2][12] Eldridge also has a stake in the Los Angeles Dodgers;[13] Chavez Ravine, the acreage around Dodger Stadium;[14][15] Cloud9;[16] Atrium Sports;[17] The Ready Games;[18] and Epic Games.[10]
In 2017 Eldridge acquired, with a co-investor, Pittsburg-based NPC International, LLC, the largest franchisee of Pizza Hut (part of Yum Brands), and Wendy's.[19] On July 1, 2020 NPC filed for Chapter 11 bankruptcy.[20]
Eldridge seeded Essential Properties Realty Trust, a REIT that went public in June 2018 under the symbol NYSE: EPRT.[21]
The firm also provided financing to Prescient, a building technology platform, for $50 million in July 2018.[22] Eldridge committed an additional $40 million in funding for the
company in June 2020 for a total of $90 million.[23][24]
In 2018, Eldridge also became a partner for the Global Citizen Festival, which was held in South Africa to honor the life and legacy of Nelson Mandela in his centenary year.[25]
In October 2019, Eldridge invested $300 million in real estate investment company Kennedy Wilson.[26]
In 2019, Eldridge increased its investment in Maranon Capital, an investment manager, resulting in Eldridge holding a majority ownership stake in the company.[27]
Eldridge committed €1 billion to Blackbrook Capital, an independent European real estate investment firm, in March 2020.[28][29]
Eldridge owns Security Benefit Life Insurance, an insurer with $40 billion in assets;[13] Valence Media;[30] CBAM Partners, an SEC-registered investment advisor;[31] Stonebriar Commercial Finance, a large ticket commercial finance and leasing company;[32] and co-owns Cain International, a London-headquartered real estate firm which owns The Beverly Hilton and Waldorf Astoria Beverly Hills.[33][34][35]
Eldridge owns a technology platform for insurance companies, SE2.[36][37] In 2019 SE2 and Life.io launched an integrated life insurance and annuity platform, SE2 Digital Engage.[38]
Thirteenth Floor Entertainment Group, an operator of horror-themed entertainment venues and escape rooms, is partially owned by Eldridge.[39][40]
Eldridge has invested in fintech companies PayActiv and Truebill.[41]
In 2015, Eldridge put some of its media properties up for sale, including Adweek and the Clio Awards.[42] Adweek was sold a year later to Beringer Capital, a private equity firm that invests in digital media and marketing services.[43] The Clio Awards, a 58-year-old ad industry event, was sold to investment company Evolution Media in 2017.[44]
In December 2016, Billboard-Hollywood Reporter Media Group purchased the music publications Spin, Stereogum and Vibe from SpinMedia for an undisclosed amount.[45]
In February 2018, Eldridge announced it would be consolidating three of its entertainment properties into a new company, Valence Media. The properties included Media Rights Capital (MRC), an independent movie and TV production company which is the studio that created Netflix shows Ozark and House of Cards;[46][47] Dick Clark Productions, a producer of award shows and other live event programming; and the Billboard-Hollywood Reporter Media Group, which includes The Hollywood Reporter and Billboard industry trade publications.[48][49][50]
In December 2019, Valence Media acquired Nielsen Holdings' music data business.[51]
In January 2020, Valence sold music publications Spin and Stereogum to Next Management Partners.[52]
On July 22, 2020, Valence Media rebranded as MRC.[53] MRC's co-founders Asif Satchu and Modi Wiczyk serve as co-CEOs and Boehly serves as Chairman.[49][54] MRC also owns a minority stake in film distributor A24;[50] and London-based production company Fulwell 73.[55][13]
In November 2020, Eldridge acquired the music publishing rights to American rock band The Killers, covering the band's first five albums. Universal Music Publishing Group will continue to administer the catalogue.[56]