Blackstone is in talks with private credit lenders to secure around £1.1bn for a refinancing and dividend recap for UK events organiser firm Clarion Events, according to 9fin sources.

The debt is expected to have a portability clause as Blackstone evaluates long-term options for the business, including a sale, added the sources.

Hayfin is incumbent lender of Clarion Events and provided a senior secured loan of around £100m in February 2024, according to 9fin’s private credit database. 

Bloomberg reported on the potential recap on Thursday (9 October).

Blackstone has been weighing options for the London-based firm since last year, according to a report by Reuters from August 2024. A potential sale could have valued the business at around £2bn, stated the report.

Clarion Events experienced a hit to its performance during the Covid-19 pandemic but had returned to stabilised trading by 2024, according to its financial statements for that year.

In 2023, Clarion Events restructured its debt, subordinating shareholder loans and extending its RCF and term loan maturities by three years, according to the FY24 financial report.

Clarion Events was acquired by Blackstone for about £600m in 2017 from Providence.

Founded in 1947, the firm has a global presence with offices in 12 countries. It runs a portfolio of 125 events and media brands across sectors including gaming, energy, technology, and security and defence, employing around 2,000 people worldwide, according to its website.

Blackstone and Clarion Events declined to comment.