Blackstone invests Rs 1,750 cr in Future Lifestyle Fashion

Future Lifestyle Fashion, the flagship fashion business of Kishore Biyani-owned Future Group has received Rs 1,750 crore investments from Blackstone, the world’s biggest private equity firm. Blackstone is investing in Ryka Commercial Ventures, the holding company of the lifestyle retailer through debentures which will be used to retire or pre-close all existing financial obligations. Blackstone is infusing the capital through a combination of equity and structured debt that will fund the capital expansion of Biyani’s deep-discount retail format Brand Factory, which is modelled on US retailer TJ Maxx, besides improving his promoter-level leverage.