Packer’s exposure
OnlyFans stake deal lures James Packer backing.
Good morning.
James Packer is wagering that OnlyFans, one of the internet’s most controversial platforms, still has room to scale, emerging as a backer of Architect Capital’s USD535 million deal for a 16% stake in its parent Fenix International, after reportedly being approached by the latter’s adviser, Moelis.
The FT reported the acquisition vehicle was backed by investors including funds associated with Packer, and The Oz reckons the billionaire was turned on what really caught the billionaire’s eye was OnlyFans’ appeal as “valuable alternative technology” exposure that is uncorrelated to his mega-cap tech portfolio.
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