Private Equity Portfolio

The Tussauds Group

The Tussauds Group was merged with Merlin Entertainments Group in May 2007.

The Tussauds Group is the largest operator of visitor attractions in Europe, and was acquired by Dubai International Capital for £800 million in March 2005. Tussauds attracted 14 million visitors in 2005 at its locations in London, Amsterdam, Shanghai, Hong Kong, Los Angeles, Las Vegas and New York. The group includes Madame Tussauds, with its 230-year heritage, as well as the London Eye which was acquired in 2006 under Dubai International Capital’s ownership. Furthermore, the group also includes theme park attractions such as Alton Towers, Warwick Castle, Thorpe Park, Chessington and Heide Park in Germany, a majority of which benefited from investment under Dubai International Capital’s ownership adding new rides and entertainment facilities as well as hotels.

In May 2007 Dubai International Capital merged The Tussauds Group with Blackstone’s Merlin Entertainments Group to create the second largest visitor attractions operator in the world after Disney. Dubai International Capital received £1,028 million cash and retained a 20 percent stake in the combined company Merlin-Tussauds Group.