Former Treasury Secretary Mnuchin's PE fund buys Lions Gate Entertainment stake (updated)

Lions Gate Entertainment

06/09/2023 01:08

(Adds details from the filing in paragraph 4, Liberty Strategic
Capital response in paragraph 6)
       Sept 5 (Reuters) - Liberty 77 Capital LP, a private
equity fund set up by former U.S. Treasury Secretary Steve
Mnuchin, has bought a 5.5% stake in Lions Gate Entertainment
 LGFa.N , according to a regulatory filing on Tuesday. 
    The buyout fund disclosed that it owns 4.5 million Class A
shares of Lions Gate purchased for about $30.8 million.
    Mnuchin has previously made investments in movies such as
"Avatar", "Mad Max: Fury Road" and "Suicide Squad".
    As part of the transaction, Liberty 77 can suggest changes
or make proposals to Lions Gate or its board in terms of
financial strategies and operations, the filing said.
    Liberty Strategic Capital, which manages Liberty 77 Capital
LP, is focused on investing in technology, financial services,
fintech companies and firms that are involved in creating new
forms of content.
    Lions Gate, which is engaged in motion picture and
television studio operations, declined to comment, while Liberty
Strategic Capital offered no further comment beyond the filing. 

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by
Shailesh Kuber and Rashmi Aich)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))