Mergers & Acquisitions ·
Cannae Holdings, Inc. sold its entire ownership interest in Watkins Holdings, LLC to KDSA Investment Partners for $90…
CNNECannae Holdings, Inc.
Cannae Holdings, Inc. sold its entire ownership interest in Watkins Holdings, LLC to KDSA Investment Partners for $90 million in cash proceeds on July 30, 2026. The transaction represents a multiple on invested capital of approximately 1.2x and an internal rate of return (IRR) of nearly 10% over less than two years, following Cannae's initial $80 million investment in October 2024. This sale monetizes a non-core asset as part of the company's portfolio transformation strategy to concentrate on sports and entertainment-related assets while providing capital for future investments or shareholder returns. Cannae Holdings, Inc. is an investment holding company that acquires interests in operating companies, primarily focusing on sports and entertainment.