By Joe Hope
S4 Capital PLC said Wednesday that it and a number of its directors have entered a 50-50 joint venture agreement with Stanhope Capital for investment vehicle S4S Ventures.
The UK digital-advertising and marketing-services company said that S4S Ventures will be structured as two funds of up to, in aggregate, $100 million, aiming to invest in marketing, advertising, data, creative technologies, and emerging digital media and content. It will invest globally, but with an emphasis on the US, Europe and the Middle East.
Founders and senior employees of Stanhope and S4 Capital will invest in S4S Ventures, including Executive Chairman Martin Sorrell and Executive Directors Scott Spirit, Victor Knapp and Wesley ter Haar, but not S4 Capital itself, the company said. S4 Capital will provide support to the venture from its network.
A proportion of the carried interest from S4S will be allocated to S4 Capital, used to remunerate its employees that provide investment ideas to the joint venture. Only a residual value, if any, will be received by S4 Capital itself.
The funds will be based in Luxembourg and Delaware and will be led by former WPP PLC global head of strategic development and partnerships Sanja Partalo.
Write to Joe Hoppe at [email protected]
Credit: www.marketwatch.com /