The fund giant’s new private equity investment arm will pay $875 million for a stake in ABG that values the closely held firm at more than $4 billion including debt, according to the Wall Street Journal. It will evidently take over as the largest shareholder from Leonard Green Partners, well known in sporting goods circles as the owner of Sports Atrocity. Lion Capital and General Atlantic, two other major shareholders, will also be lowering their stakes with Leonard Green as Black Rock comes in.

The 10-year-old company started by Jamie Salter who began his career in the snowboard business owns a ... Log in to view full article.