Parallaxes Capital Highlights Terminated TRA of a Leading Food and Beverage Company

×

Error message

  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).

NEW YORK, Dec. 6, 2022 /PRNewswire/ -- Parallaxes Capital Management ("Parallaxes") is an alternative asset manager and, since 2017, has raised four funds dedicated to Tax Receivable Agreements ("TRAs").

Metadata
Provider: 
PR NewswirePR Newswire
Retrieved on: 
Tuesday, December 6, 2022
Information
Tags: 
IPO, Parallax, Inc., TRA, Pepsi, Ecosystem, PepsiCo, Tras, Acquisition, Security (finance)
Geotags: 
NEW YORK
Organisation: 
PARALLAXES CAPITAL
Summary
Key Points: 
  • NEW YORK, Dec. 6, 2022 /PRNewswire/ -- Parallaxes Capital Management ("Parallaxes") is an alternative asset manager and, since 2017, has raised four funds dedicated to Tax Receivable Agreements ("TRAs").
  • In the vein of creating greater visibility into the TRA ecosystem, Parallaxes is pleased to highlight a notable development in the market as PepsiCo Inc. ("Pepsi") previously terminated its TRA.
  • Parallaxes Capital Management ("Parallaxes") is the premier investment firm focused exclusively on monetizing Tax Receivable Agreements ("TRAs").
  • Parallaxes was founded in 2017 and is comprised of experienced investment professionals from leading private equity and growth equity firms.


Parallaxes Capital Highlights Terminated TRA of a Leading Food and Beverage Company

NEW YORK, Dec. 6, 2022 /PRNewswire/ -- Parallaxes Capital Management ("Parallaxes") is an alternative asset manager and, since 2017, has raised four funds dedicated to Tax Receivable Agreements ("TRAs"). As the market leader in monetizing TRAs, Parallaxes is dedicated to increasing the visibility and transparency of TRAs which remain an often overlooked and misunderstood asset class. In the vein of creating greater visibility into the TRA ecosystem, Parallaxes is pleased to highlight a notable development in the market as PepsiCo Inc. ("Pepsi") previously terminated its TRA.

Pepsi disclosed that it paid $773 million to terminate its TRA. The Pepsi TRA provided for the payment of tax savings realized from certain tax attributes, including the increase in tax basis obtained in connection with Pepsi's acquisition of Rockstar Energy Beverages.

Parallaxes views TRAs, including the Pepsi TRA, as a valuable tool to reduce certain moral hazard problems and informational asymmetry inherent in a company's public offering. TRAs help ensure that pre-IPO owners are economically aligned with new public shareholders and incentivize pre-IPO owners to pursue an IPO structure that provides the company with ongoing tax benefits. Parallaxes anticipates enhanced awareness and understanding of TRAs will drive increased market adoption.

About Parallaxes Capital

Parallaxes Capital Management ("Parallaxes") is the premier investment firm focused exclusively on monetizing Tax Receivable Agreements ("TRAs"). Parallaxes offers private equity sponsors, co-investors and management team members solutions to achieve liquidity, diversification and optionality from their TRAs. Parallaxes was founded in 2017 and is comprised of experienced investment professionals from leading private equity and growth equity firms. To learn more, please visit www.plxcap.com

Disclosures

This press release should not be regarded as representative of an official position or statement of Parallaxes or any related entity.

Cision View original content:https://www.prnewswire.com/news-releases/parallaxes-capital-highlights-terminated-tra-of-a-leading-food-and-beverage-company-301696221.html

SOURCE Parallaxes Capital

Copyright: 
2022 PR Newswire. All Rights Reserved.