Monthly Archives: October 2024

Ares prepares NFL splash

Ares Management is hoping to make a big splash in the NFL with news that the global private equity firm is reportedly looking to acquire a 10% minority stake in the Miami Dolphins. The deal also includes billionaire Joe Tsai, co-owner of the NBA’s Brooklyn Nets and the WNBA’s New York Liberty, who would receive a 3% ownership stake. This could be a huge catch as the deal also includes the Hard Rock Stadium and the Miami F1 Grand Prix race. This development follows recent news that the NFL had agreed to allow outside investors to take ownership stakes in what is one of the world’s most highly lucrative sports leagues. More NFL teams will doubtless be looking for their own liquidity events in the coming months, as private equity firms go on the offense and make a bid for their end zone celebration.

Inspired by CNBC

Ready>Set>Co(invest)

CalSTRS is getting ready to Go Go Gadget its co-investment arms after the pension’s investment committee agreed to remove the provision for third-party approval on co-investment deals under $250 million. The decision comes as CalSTRS seeks to incorporate more co-investments and direct investments in its private equity portfolio. This will help investment staff move into higher gear and act quickly to close on deals without needing to wait for external valuation approvals. The decision is likely to signal Lift Off for the US pension plan, which has already constructed a platform in excess of nearly 100 deals. With more speed and agility at their disposal, the race is now on to seek out the best GPs to partner with.

Inspired by PitchBook