Billionaire Marc Lasry, co-owner of the Milwaukee Bucks, has successfully raised over $445 million in his Avenue Sports Opportunities Fund. The fund, which was established in October with a focus on various sports-related businesses, has seen a surge in commitments amounting to $175 million in a short period of time.
The Avenue Sports fund is managed by Jon Greenbaum and Todd Marcy, both with experience in sports and media assets. The fund is open to global investments and interests in sports betting, ticketing, and artificial intelligence. While the primary focus is on the U.S., the fund also concentrates on women’s sports in both established and emerging leagues, as well as providing financial solutions to sports leagues.
Lasry divested his ownership stake in the Bucks for $3.2 billion last year in preparation for launching the sports fund. Pitchbook first reported on the regulatory filings related to Avenue’s sports-specific fund. The news of the successful raise comes just days after Lasry announced his plans to purchase a controlling stake in Angel City FC, a valuable NWSL franchise.
