Playboy Enterprises Inc. Chief Executive Scott Flanders, who orchestrated the storied magazine’s move away from nudity, is leaving as the company explores a sale.
Rizvi Traverse Management LLC is a private equity firm specializing in investments in late stage, management buyouts, management buy-ins, acquisitions, recapitalizations, PIPEs, privatization, turnarounds, restructurings, complex transactions, bankruptcies and reorganizations, and growth capital investments. The firm seeks to invest in Pre-IPO opportunities with a focus on Technology, e-commerce, and social media. It focuses on the United States companies. The firm invests between $25 million and $1000 million in transactions in its portfolio companies. Rizvi Traverse Management LLC is based in Birmingham, Michigan with additional offices in New York, New York, and Beverly Hills, California.
Your eyes are open wide…
Ben Kohn, managing partner at Rizvi Traverse Management, has been named interim CEO, the company announced Tuesday. In 2011, the private-equity firm took Playboy private alongside founder Hugh Hefner, who holds a roughly one-third stake in the company, according to people familiar with the matter.
Ty baker…
:)