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    Home»Deals»Dyal’s deal for Phoenix Suns shows private equity wants winners
    Deals

    Dyal’s deal for Phoenix Suns shows private equity wants winners

    July 8, 20211 Min Read
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    The private equity industry has historically been known for buying struggling companies and attempting a turnaround. But the handful of firms investing in professional sports teams have mostly taken a different approach so far, buying up minority stakes in franchises with successful track records.

    The latest example came Tuesday when Dyal HomeCourt Partners, a division of Dyal Capital Partners dedicated to backing NBA teams, announced it had purchased a stake of less than 5% in the Phoenix Suns through a deal that values the NBA franchise at approximately $1.55 billion.

    The Suns beat the Milwaukee Bucks in Game 1 of the NBA Finals on Tuesday night. Oddsmakers have pegged The Suns as favorites to win the first championship in the franchise’s history.

    Read more/Source: Pitchbook

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