Adobe Stock
Big-time investors and a major sports star are teaming up to reshape the business of sports.
TPG, one of the biggest private investment firms in the world based in Fort Worth and San Francisco, is diving deeper into the sports world with a new venture called TPG Sports. The firm has partnered with pro golf star Rory McIlroy, fresh off his Masters win, and his longtime business partner Sean O'Flaherty to invest in companies, teams, and leagues that are shaping the future of sports.
Backing the effort is Lunate, an investment firm from Abu Dhabi with more than $110 million in assets under management.
“The continued global rise in sports viewership and fandom is creating new opportunities that demand creative, growth capital,” said Todd Sisitsky, president of TPG, in a statement. “TPG Sports brings together the hallmarks of our investment style to invest behind and grow businesses that are redefining the future of sports.
“This is a unique moment in time for sports that calls for a differentiated approach to investing, and we’re grateful for Lunate’s continued partnership as we launch the strategy.”
Through Symphony Ventures, McIlroy and O'Flaherty have been active investors across the sports and broader wellness space for nearly a decade and have partnered with TPG on a number of investments over the past six years, including Troon Golf.
“The sports landscape is evolving in real time, and the ways we play, watch, and interact with sports are changing in exciting ways,” said McIlroy. “With TPG Sports, we have the capabilities, capital, and insights to invest behind and grow the businesses that are enabling this transformation.”
TPG is one of the most experienced private equity investors in media and entertainment, with investments that have included Creative Artists Agency, Entertainment Partners, DIRECTV, Dream11, Fandom, Musixmatch, Spotify, and Troon, among others.