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Upcoming/New CFIUS Filing: Affiliates of Wafra Inc. and Colony Capital, Inc.

On July 13, 2020, Colony Capital, Inc. a publicly traded investment management firm (NYSE: CLNY), and its operating company Colony Capital Operating Company, LLC, entered into an agreement “with W-Catalina (S) LLC, W-Catalina (C) LLC, W-Catalina (SP) LLC and Wafra Strategic Holdings LP, each affiliates of Wafra Inc.,” a New York based investment firm, by which the affiliates of Wafra will acquire approximately 31.5%, through an approximate $253.6 million investment, in a newly-formed venture that will operate the digital investment management business (“Digital Colony IM”) of Colony Capital, Inc.  (See Colony Capital, Inc., Form 8-K, July 13, 2020, SEC Filing.) This new Digital Colony IM venture will include new fund strategies in digital infrastructure in which Wafra elects to participate and “will entitle Wafra to participate in net management fees, carried interests and performance fees generated by Digital Colony IM.” (Id.) According to the announcement, Colony Capital, Inc., and Wafra “will cooperate and use their reasonable best efforts to obtain the approval of the Committee on Foreign Investment in the United States with respect to the Equity Investment as promptly as practicable . . .” (Id.)

Acquirer:            Affiliates of Wafra Inc. (US)

Acquired:            Colony Capital, Inc. (US)

Value:                   US$213 million

Industry:             Network and Data Solutions

© Copyright 2020 Squire Patton Boggs (US) LLPNational Law Review, Volume X, Number 197

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