New Cotai, LLC, a Delaware limited liability company, was formed on February 22, 2006. The Company holds a 40% interest in Studio City International Holdings Limited (formerly known as Cyber One Agents Limited), a company incorporated in the British Virgin Islands on August 2, 2000 ("Studio City International"). Studio City International, together with its subsidiaries, currently owns the Studio City project, an integrated resort comprising entertainment, retail, hotel and gaming facilities currently being developed in the Macau Special Administrative Region of the People's Republic of China.
The Company was formed for the purpose of investing in Studio City International. The Company is wholly-owned by New Cotai Holdings, LLC, a Delaware limited liability company, which is owned 92.6% by New Cotai Investments, LLC ("New Cotai Investments"), also a Delaware limited liability company, and 7.4% by New Cotai Participation Corp. ("NCP"), a company incorporated in the British Virgin Islands. Affiliates of investment funds managed by Silver Point Capital, L.P. own a controlling interest in New Cotai Investments and affiliates of investment funds managed by Oaktree Capital Management, L.P. own a non-controlling interest.
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SOURCE New Cotai, LLC