Sports-focused private equity firm Arctos Sports Partners has raised $1.1 billion for a second investment fund, bringing the firm’s total assets to more than $5 billion.
Arctos closed on the first fundraising round this week, according to an email sent to clients today by Evercore, a marketer of investment funds to institutional investors. The new fund, Arctos Sports Partners Fund II, includes additional investments from about half the firm’s clients in the original fund, according to the email. Arctos is targeting a total of $2.5 billion in capital for the second vehicle. An Arctos spokesperson declined to comment.
Two weeks ago, Arctos disclosed in an annual filing that its first fund ended 2021 with $3.94 billion in assets. The Dallas-based private equity firm co-founded and led by Ian Charles has been a prolific raiser of institutional assets to invest in sports. The business launched in the fall of 2019 and raised more than $400 million in its first six months and then doubled that by its first anniversary.
Read more: Yahoo News
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