Sidley represented Commonwealth Asset Management and Shadowbox in a US$500 million investment into Shadowbox from technology investor Silver Lake. Shadowbox Studios, formerly Blackhall Studios, develops, owns, and operates purpose-built, state-of-the-art soundstage facilities. The investment includes a capital commitment of US$500 million that will support Shadowbox’s growth strategy, including existing soundstage development projects in the Atlanta, London, and Los Angeles metro areas with over US$1.5 billion of expected capital investment. Commonwealth will remain the majority shareholder. Upon completion of these development projects, Shadowbox will own and operate a portfolio of 68 soundstages and over 4.2 million square feet of leasable area, making it one of the largest operators in the sector.
The Sidley deal team was led by Josh DuClos and Emily Zipperstein (M&A and Private Equity), and includes Zachary Shub-Essig and Derek W. Kang (M&A and Private Equity); Daniel F. Spies and Brian W. Cook (Investment Funds); David E. Mollo-Christensen and Amanda M. Casanueva (Employee Benefits and Executive Compensation); Elizabeth K. McCloy and Joy Kerr (Real Estate); Rachelle Soderstrom (Technology and Life Sciences Transactions); and Christian Brause, Oliver Currall, Eric M. Grosshandler, Nicole Bieber, and Tyler J. Combest (Tax).