BlackRock has announced that it has made an $875 million strategic investment in Authentic Brands Group.

The deal is the first for BlackRock’s Long-Term Private Capital fund. Following the agreement, BlackRock’s LTPC will become the largest investor in ABG. The company joins existing ABG investors including founding investor Leonard Green & Partners, General Atlantic, Lion Capital, Simon Property Group, Brookfield Properties’ retail group and former basketball player Shaquille O’Neal.

ABG’s portfolio spans the luxury, specialty and mid-tier retail channels in both e-commerce and brick and mortar, and is diversified across the lifestyle, sports, celebrity, entertainment and media sectors. The firm’s portfolio includes brands such as Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal, Greg Norman, Thalia Sodi, Neil Lane, Nautica, Aéropostale, Vince Camuto, Nine West, Juicy Couture, Frye, Spyder, Prince and Judith Lieber. Most recently, the company bought Sports Illustrated from Meredith Corp.

“The strategic investment by LTPC is a testament to the success we have had building a leading platform for the ownership and development of brand and media content,” says Jamie Salter, chairman and chief executive officer, ABG. “BlackRock’s scale, global footprint and digital capabilities will enable us to build out our organization and continue our domestic and international growth trajectory. This investment marks an important and exciting next phase of expansion for ABG.”

ABG is one of the leading licensors in the world. The company recently was reported to have earned the fifth-highest amount of retail sales last year, according to License Global’s Top 150 Global Licensors report.