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New Zealand Rugby (NZR) is the governing body of rugby union in New Zealand. It controls all of the country’s international teams and domestic club leagues, including some of the world’s most successful sports teams – the All Blacks, the Black Ferns, and the All Blacks Sevens. Silver Lake’s investment is through New Zealand Rugby Commercial, a commercial entity which houses all revenue-generating assets of NZR, as well as through a partnership with NZR and the New Zealand Rugby Players Association to invest in rugby-related opportunities globally.