Cannae sells Watkins interest for $90M cash; 1.2x MOIC in <2 years

Cannae Holdings, Inc.

Sold Watkins Holdings to KDSA Investment Partners for $90M cash proceeds.
Original $80M investment in Oct 2024; total returns yield ~1.2x MOIC and ~10% IRR.
Part of portfolio transformation to focus on sports/entertainment assets; capital to be redeployed or returned.
Chairman Ammerman says sale monetizes non-core asset and provides capital for future investments or shareholder returns.

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