Caisse de depot et placement du Quebec and Highbridge Principal Strategies partner with Cirque du Soleil to invest in Zarkana and IRIS productions
MONTREAL, July 22, 2011 /PRNewswire/ РCaisse de d̩pot et placement du
Québec and Constellation Growth Capital, a division of Highbridge
Principal Strategies, have partnered with Cirque du Soleil to produce
the two latest Cirque du Soleil shows, Zarkana, currently at Radio City
Music Hall in New York City, and IRIS, which opened yesterday
exclusively at the Kodak Theatre in Los Angeles.
The $104 million vehicle formed by the three partners is investing in
high quality entertainment with international appeal. Since its
opening on June 9(th), Zarkana has already been acclaimed by close to 100,000 spectators and
has been hailed by Time Magazine as “the show of the summer in the
Showplace of the Nation”. IRIS is the much anticipated new and first
permanent production by Cirque du Soleil in Los Angeles that opened
last night for an exclusive engagement at the Kodak Theatre.
“We are pleased that such financial partners have chosen to invest with
us in our creative endeavors. It demonstrates that they share our goal
of offering high quality entertainment with international appeal and
reach that touches spectators in the unique Cirque du Soleil way,” said
Daniel Lamarre, President and CEO of Cirque du Soleil.
“This is a sound investment in an internationally renowned company,
whose high-quality shows have made it a benchmark in the artistic
world, said Normand Provost, Executive Vice-President, Private Equity,
and Chief Operations Officer at the Caisse. This investment in Cirque
productions allows us to generate financial returns while supporting
the growth of a successful Quebec-based company abroad.”
“Constellation Growth Capital is proud to make an investment together
with Cirque du Soleil and the Caisse to bring Cirque du Soleil’s
extraordinary global brand of entertainment to Radio City Music Hall in
New York City and the Kodak Theater in Los Angeles,” said Tom
Wasserman, Managing Director of Constellation Growth Capital. “This
investment accomplishes our mission of finding attractive and unique
opportunities in the media, communications and technology industries,
and we believe that these original productions will encourage tourism
and foster economic development in both New York and L.A.”
ABOUT THE CAISSE DE DÉPOT ET PLACEMENT DU QUÉBEC
The Caisse de dépot et placement du Québec is a financial institution
that manages funds primarily for public and private pension and
insurance plans. As of December 31, 2010, it held $151.7 billion in net
assets. As one of Canada’s leading institutional fund managers, the
Caisse invests in major financial markets, private equity and real
estate. For more information: www.lacaisse.com.
ABOUT HIGHBRIDGE PRINCIPAL STRATEGIES AND CONSTELLATION GROWTH CAPITAL
Highbridge Principal Strategies (“HPS”) was launched in 2007 as the
principal investing business of Highbridge Capital Management, LLC, a
global alternative asset management firm founded in 1992. HPS is now a
multi-billion dollar business that manages debt and equity
opportunities with longer-term holding periods, including loan,
mezzanine, private equity and other investments. Constellation Growth
Capital, a division of HPS, has been committed since inception to
investing in the convergence of media, communications and technology
and has managed total investment assets of over $650 million.
ABOUT CIRQUE DU SOLEIL
Cirque du Soleil is primarily a creative content provider for a wide
variety of unique projects. In addition to shows, the company, which
has its International Headquarters in Montreal, extends its creative
talent to other spheres of activity. While maintaining stringent
standards of artistic quality and originality, Cirque du Soleil brings
to innovative projects the same energy and spirit that characterize
each of its shows.
Cirque du Soleil is a Quebec-based organization providing high-quality
artistic entertainment. Since its beginnings in 1984, more than 100
million spectators in over 300 cities on six continents have been
thrilled by Cirque du Soleil.
For more information about Cirque du Soleil, visit www.cirquedusoleil.com.
To find out more about the One Drop Foundation, visit www.onedrop.org.
SOURCE CIRQUE DU SOLEIL
