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download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Since then, private-equity firms have poured $54.6 billion into sports, according to PitchBook data. And the field of potential investors is growing with Goldman Sachs helping rich clients invest in teams, which can drive up prices. AdvertisementLeagues also restrict PE investments, with some caps on the number of teams a firm can own stakes in or the ownership share a fund can hold. Scroll down to read about the private equity firms, listed alphabetically, that have been making the biggest moves in sports in recent years.
Persons: , Josh Harris, Rob Walton, Carlyle, Ben, Blackstone, Goldman Sachs, Harris, Blackstone Group's David Blitzer, Lauren Leichtman, Arthur Levine, Sportico, RedBird, Gerry Cardinale, There's Organizations: Service, MLB, NBA, Business, Washington, Denver Broncos, Amazon, Sports, Ben Fund, Bluestone Equity Partners, GMF, Apollo Global Management, Blackstone Group's, Levine, Capital Partners, San Diego Wave, NFL Locations: downturns
Bommer, a former hedge fund manager, joined Blackstone in 2021 as a senior managing director when the company was overhauling its $81 billion Blackstone Alternative Asset Management hedge fund unit known as BAAM. The Blackstone Horizon platform will now be run by an investment committee led by BAAM Global Head Joe Dowling, the sources said. Before coming to Blackstone, Bommer ran hedge fund SAB Capital for 17 years investing in stocks, debt and mortgages. Bommer was the first big hire brought in by Dowling, after he joined Blackstone in early 2021 to help overhaul the hedge fund unit. Last year Tiger Global Management lost 56% while Whale Rock Capital Management ended with a 43% loss, Reuters reported previously.
Persons: Blackstone, Scott Bommer, Joe Dowling, Bommer, Dowling, Svea Herbst, Bayliss, Diane Craft, David Gregorio Our Organizations: YORK, Blackstone, Management, BAAM Global, SAB Capital, Tiger Global Management, Whale Rock Capital Management, Reuters, Svea, Thomson
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