Authentic Brands raises $500 million in funding from General Atlantic

(Reuters) – Apparel chain operator Authentic Brands Group said on Thursday that it has raised $500 million from private equity firm General Atlantic in a funding round.

Authentic did not disclose the valuation at which the latest funds were raised, but a report from Bloomberg News earlier said the round valued the Aéropostale owner at $20 billion.

The private funding market is staging a comeback after a rough 2022, with investors regaining some of their risk appetite on hopes that the easing of rate hikes in U.S. will prevent the economy from sliding into a long and punishing recession.