Marc Lasry, co-owner of the Milwaukee Bucks, has successfully raised over $445 million for his Avenue Sports Opportunities Fund, according to recent filings with the Securities & Exchange Commission. The fund, launched in October 2021, focuses on a wide range of sports-related business ventures such as sports teams, leagues, media rights, real estate and intellectual property.
The latest filings reveal that the Avenue Sports fund has raised $445.1 million, showing an increase in commitments of nearly $175 million in just a few weeks. The fund has already made moves in the industry, acquiring the San Francisco expansion franchise of TGL, a golf league founded by Tiger Woods and Rory McIlroy. This fund is also reportedly in the process of purchasing a controlling stake in Angel City FC, the most valuable NWSL franchise.
Apart from purchasing minority stakes in various franchises, the Avenue Sports fund has a particular focus on women’s sports in both established and emerging leagues. It also aims to provide financial support to sports leagues. While the fund primarily looks at opportunities in the U.S., it is open to global investments and interests in areas like sports betting, ticketing and artificial intelligence. A representative for Avenue declined to comment on these activities.
The Avenue Sports Opportunities Fund is affiliated with Avenue Capital, a private equity firm with assets totaling $12.3 billion that Marc Lasry co-founded with Sonia Gardner in 1995
