Avenue Capital Group, a global asset management firm led by Chairman and CEO Marc Lasry, has closed its sports fund with over $1 billion of capital commitments.
Avenue Sports Fund, launched in 2023 under the parent company Avenue Capital Group, focuses on investment opportunities and provides equity capital to sports-related companies, including teams and leagues.
Lasry, New York-based Avenue Capital’s Chairman and CEO, has sports investing experience, including as the former Co-Owner of the NBA’s Milwaukee Bucks.
Since its launch, the Avenue Sports Fund’s investments have included The Bay Golf Club in TGL, the new golf league formed by Tiger Woods and Rory McIlroy; Trackhouse Entertainment Group, a motor sports business that owns a NASCAR Cup Series team and a MotoGP team; tech and media company Cosm; Ipswich Town Football Club, which competes in the English Championship League; Mercury/13, an ownership group focused on acquiring European women’s football franchises; PGA Tour Enterprises, the for-profit commercial arm of the PGA Tour; the Baltimore Orioles; the New York Mavericks of the Professional Bull Riders Team Series league; CityPickle, the operator of pickleball clubs on the East Coast; the United States SailGP Team; and the Men in Blazers Media Network.
Lasry stated, “This is a dynamic time in sports, and we are grateful for the strong support of our investors and partners in the Avenue Sports Fund. We have an incredible investment team and advisors, and we are honored that the Sports Fund is further distinguished by its extraordinary athlete team members. We are thrilled by the range of investments we have made to date, and we are excited to continue to provide capital solutions and make equity investments in a wide variety of sports teams and leagues, as well as in sports-related media and entertainment rights, real estate, and other adjacent businesses. We believe emerging leagues and women’s sports are areas of potential rapid growth, and the globalization of sports in various leagues will also create a wide range of opportunities to invest.”
Image courtesy CityPickle
