Core Viewpoint - Golden Goose, an Italian luxury sneaker manufacturer, is set to be acquired by HongShan Capital for €2.5 billion (approximately ¥20.6 billion), with the deal expected to be finalized before Christmas [2]. Group 1: Company Overview - Golden Goose was founded in 2000 and is known for its luxury lifestyle and sportswear, with its headquarters in Venice, Italy [4]. - The brand's signature sneaker, Super-Star, was launched in 2007 and features a distinctive worn-out look, earning it the nickname "little dirty shoes" in the fashion circle [4]. - All shoes are handcrafted by Italian artisans, utilizing high-quality leather and undergoing various production processes [4]. Group 2: Financial Performance - In FY2024, Golden Goose's sales revenue increased by 13% to €655 million, while profit rose by 14% to €227 million [7]. - For the first nine months of FY2025, revenue also grew by 13% to €517 million, with profit increasing by 7% to €173.6 million [7]. - The brand aims to reach €1 billion in revenue by 2029, positioning itself alongside other luxury brands like Moncler [7]. Group 3: Investment and Ownership Changes - Permira and Carlyle currently hold approximately 88% of Golden Goose, while Blue Pool Capital owns the remaining 12% [2]. - In 2020, Permira acquired a majority stake in Golden Goose for about €1.3 billion, and previously, Carlyle had purchased 100% of the brand for €400 million in 2017 [6][7]. - Blue Pool Capital, a family office of Alibaba's founders, invested in Golden Goose shortly after the brand postponed its IPO [9]. Group 4: Future Plans and Management - HongShan Capital plans to expand Golden Goose's direct-to-consumer (DTC) channels, particularly in Asia, and aims to push for a future IPO [10]. - The current CEO, Silvio Campara, will retain management authority, while Maureen Chiquet, former CEO of Chanel, is set to become the new chairperson [10].

Core Insights - The private equity market is experiencing significant activity, with new fund launches and strategic acquisitions being highlighted [5]. Group 1: Private Equity Market Overview - The private equity market is seeing new fund launches and notable transactions, indicating a robust investment environment [5]. - The acquisition of the contact lens manufacturer, Kingko International, by Anhong Capital, backed by Yintuo Group, showcases strategic moves within the sector [5]. Group 2: Hedge Fund Market Review - Bloomberg's preliminary data indicates that hedge funds rose by 1.5% in January, with the Bloomberg Equity Hedge Fund Index leading the gains [4]. - The hedge fund market is actively recruiting talent to capitalize on the recovery of Japan's $7.1 trillion government bond market [5]. Group 3: Notable Transactions and Developments - A consortium's proposal to acquire Seven & i Holdings Co. faced financing challenges, highlighting the complexities in management buyouts [5]. - The luxury sneaker brand Golden Goose postponed its IPO, with Blue Pool Capital acquiring a minority stake, reflecting cautious market sentiment amid declining demand in China [5].