![]() ![]() ![]() Some of the biggest funds investing in sports belong to Dyal HomeCourt Partners, which is part of Blue Owl Capital, and Arctos Sports Partners. Some investment funds are also chasing sports deals. Formerly of Bain Capital, Ian Loring (now at Haveli Investments, per his LinkedIn) is also part of the group. The group of investor buyers included Gabe Plotkin (of Melvin Capital and meme stock fame), as well as Rick Schnall, a partner at PE firm Clayton, Dubilier & Rice Chris Shumway, former senior managing director of Tiger Management and current managing partner of Shumway Capital and Dan Sundheim, founder and CIO of D1 Capital Partners. The most recent big sports deal came in June, Luisa writes, when Michael Jordan agreed to sell his majority stake in the Charlotte Hornets basketball team. ![]() For example, private equity funds generated an annualized return of 14.8% for the 25 years ended December 2020, more than double the 5.76% produced by the S&P 500 for the same time period, according to a 2022 World Economic Forum study. The rise in alt exec ownership is, of course, in part due to the stunning returns alt firms have made in their bread-and-butter businesses over the past 25 years. There are a couple big drivers for the interest in sports teams. Others more under the radar include Justin Ishbia, founder of private equity firm Shore Capital, who is an owner of the Nashville SC. Some are well-known, including Steve Cohen, chairman and CEO of hedge fund Point72, who acquired the New York Mets baseball team in 2020 for $2.4 billion Josh Harris, cofounder of Apollo Global Management, who led an investor group to buy the Washington Commanders, formerly known as the Washington Redskins, for a record $6.05 billion, in May and Marc Lasry, CEO of Avenue Capital Group, who sold his 25% stake in the Milwaukee Bucks in April. As Luisa writes:Īccording to an analysis by Fortune, which included scanning the websites and media guides of the roughly 153 teams, as well as speaking to investors and league officials, about 120 alt execs own stakes in sports franchises. My colleague Luisa Beltran rolled up her sleeves and went digging-and she found 120 ‘alt’ executives who have invested in sports teams, as she reported in her latest feature. ![]()
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