Monday, August 26, 2013

Professional PEU Sports

Private equity underwriters (PEU's) may not only own your rental home, they could be the owners of your favorite professional sports team.  The New Jersey Devils' new PEU owners come from Apollo Global Management and Blackstone.  Dealbook reported on other PEU professional teams:

A group of private equity moguls, including Bain Capital’s Steve Pagliuca, already owns the Boston Celtics. And Tom Gores of Platinum Equity controls the Detroit Pistons alongside his firm. Since 2002, the principal owner of the Boston Red Sox has been John W. Henry, who took over Liverpool Football Club in the fall of 2010.
How might you be supporting a billionaire's trophy properties in our PEU world?