Houlihan Lokey Advises VStar Entertainment Group

Houlihan Lokey is pleased to announce that VStar Entertainment Group, LLC (VStar), a portfolio company of AUA Private Equity Partners (AUA), has been acquired by Cirque du Soleil Entertainment Group (Cirque du Soleil), a portfolio company of TPG Capital (TPG). The transaction closed on July 3 and represents Houlihan Lokey's continued position as a leading advisor within the out-of-home and live entertainment industry.

Based in Minneapolis, Minnesota, VStar is a leading entertainment company and producer of live experiences for audiences in the U.S. and around the world. Over its 30+ year history, VStar has sold over 50 million tickets worldwide and hosts more than 2 million attendees each year. VStar both owns and licenses intellectual property, and its various show formats tour through a multitude of venues, ranging from convention centers to theatres to internationally known arenas such as Madison Square Garden and Staples Center. VStar's current portfolio includes PAW Patrol Live!Cirque DreamsDiscover the Dinosaurs, and Bubble Guppies Live!. VStar creates costumes and set designs for all of its own productions as well as provides third-party services and brand activations for multiple Fortune 500 brands and professional sports teams.

AUA is an operationally focused lower-middle-market investment firm that partners with family-owned businesses or companies benefiting from the growth of the U.S. Hispanic population within certain sectors. The firm is headquartered in New York, New York.

Originally composed of 20 street performers in 1984, Cirque du Soleil completely reinvented circus arts and went on to become a world leader in live entertainment. Established in Montreal, the Canadian organization has brought wonder and delight to over 180 million spectators with productions presented in 450 cities in 60 countries. Cirque du Soleil currently employs 4,000 people, including 1,300 artists, who originate from nearly 50 countries.

TPG is a leading global alternative asset firm founded in 1992 with more than $82 billion of assets under management. TPG's investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, public equity, and infrastructure.

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