Cannae Holdings sells Watkins stake to KDSA Investment Partners
CNNE•Cannae sells minority Watkins stake
Cannae Holdings said it sold its minority stake in The Watkins Company to KDSA Investment Partners as part of a portfolio shift.
The company said the investment totaled $80 million in October 2024, and that sale proceeds, preferred dividends and fees delivered about 1.2x MOIC.
The deal generated an internal rate of return of nearly 10% in less than two years.
Cannae said the proceeds are earmarked for new investments or shareholder returns as the portfolio narrows toward sports and entertainment assets.
