On July 8, 2015, TPG Capital LP (“TPG”), a global private investment firm, acquired a majority stake in Cirque du Soleil (“Cirque”), Canada's iconic entertainment company, for an undisclosed amount.
Caisse de dépôt et placement du Québec along with Fosun Capital Group, one of China's leading privately-owned investment groups, also acquired a minority stake in Cirque. In addition, Mitch Garber, Chair of the Cirque Board, Claridge, Stephen Bronfman's family investment arm, and Cirque President and CEO Daniel Lamarre acquired ownership stakes.
Cirque founder Guy Laliberté will keep a minority stake in Cirque and continue to provide creative and strategic direction. The entertainment company will remain headquartered in Montreal, and Daniel Lamarre will continue as president and chief executive officer.
Since Cirque's inception in 1984, its famous blue and yellow tents have attracted almost 160 million spectators in more than 330 cities in 48 countries.
Osler, Hoskin & Harcourt LLP represented TPG with a team that included Robert Yalden, Clay Horner and Christopher Main (Corporate); Mark Brender and Alain Fournier (Tax); Michelle Lally and Kaeleigh Kuzma (Competition & Antitrust and Investment Canada Act), Etienne Massicotte (Financial Services) and Hugo-Pierre Gagnon (Corporate).