What comes next after selling one of your companies for $4 billion?
It looks like Frank and Lorenzo Fertitta are off to make even more money with the launch of their new business venture, Fertitta Capital.
According to a press release that came out on Monday, “Fertitta Capital, a private investment firm, today announced its official launch with an initial seed investment of $500 million from Frank and Lorenzo Fertitta. The Firm will focus on consumer-facing companies in the technology, media and entertainment sectors and invest across the capital structure. Nakisa Bidarian will lead Fertitta Capital as CEO and co-founder and be responsible for the deployment of the Firm’s capital.”
Bidarian is the former CFO of the UFC and will head the new company based in Los Angeles, California. Sam Bakhshandehpour, the former CEO of sbe Entertainment who also spent 15 years working with J.P. Morgan as the global head of gaming and west coast head of real estate & lodging investment banking will serve as a managing director.
The Fertitta’s sale of the UFC is one of the most lucrative sports deals in history and the Fertittas will look to gain more business deals with their private investment firm. Frank and Lorenzo each pocketed an estimated amount of nearly $1 billion each from the sale of the UFC.
“There is tremendous opportunity in the market for a firm that combines patient capital with this unique team of experienced investors and operators,” said Lorenzo Fertitta, chairman of Fertitta Capital. “Our long-term view enables us to avoid mandated investment timelines and instead focus exclusively on what really matters—understanding the needs of the companies we partner with and helping them achieve their operational and financial objectives.”
What are your thoughts on the Fertitta’s new business venture? Will they be able to knockout more huge wins in the business world? Let’s get your thoughts in the comment section!
This article first appeared on BJPenn.com on 5/1/2017.This article appeared first on BJPENN.COM