Authentic Brands Raises $3.5 Billion, Pushes Back IPO

The company behind brands such as Brooks Brothers, Eddie Bauer and Sports Illustrated magazine plans to delay its initial public offering after getting a big new investment from two private-equity firms.

Authentic Brands Group LLC, which develops and licenses its brands to retail operators, said Monday it sold stakes to CVC Capital Partners and HPS Investment Partners in a deal that values the company at $12.7 billion including debt.