From Deadline · Greg Evans · · 40s
Broadway Deal Returns Capital To Hell's Kitchen Investors
Broadway's Hell's Kitchen investors get immediate capital return through Alicia Keys partnership with Ovation Rights.
In brief
Broadway's Hell's Kitchen investors get immediate capital return through Alicia Keys partnership with Ovation Rights. Ovation Rights and Alicia Keys' partnership with Hell's Kitchen investors provides immediate capital return instead of waiting years for distributions. Originally reported by Deadline.
Hell's Kitchen investors
Ovation Rights partners with Alicia Keys to acquire Hell's Kitchen's economic interests.
“the economic interests previously held by the original Broadway production company of her bio-musical Hell’s Kitchen”
Immediate capital return
Investors get immediate capital return rather than waiting for future distributions over many years.
“with an immediate capital return rather than waiting for future distributions over many years”
Ovation founders statement
Ovation founders believe in Hell's Kitchen's long-term future and say the deal demonstrates something important for Broadway.
“we believe enormously in Hell’s Kitchen and its long-term future”
The takeaway
Ovation Rights and Alicia Keys' partnership with Hell's Kitchen investors provides immediate capital return instead of waiting years for distributions.
