FountainVest Partners, the controlling shareholder of Amer Sports (parent company of Arc’teryx), is reportedly seeking to raise up to $1.32 billion by selling about half its stake in the sportswear firm. FountainVest plans to sell 35 million Amer shares at $37.20–$37.73 per share. FountainVest was part of a consortium with Anta Sports Products, Lululemon’s founder-backed fund, and Tencent Holdings that acquired Amer in 2019 for $5.2 billion. The sale will reduce FountainVest’s stake from 12.5% to about 6.2%.