Who is RedBird Capital? With the offer halted by the fund in Bhrein Investcorp, it appears that the Americans from RedBird Capital have started buying Milan. Elliott Fund intends to sell the company and an official delivery may arrive soon. And so the Rossoneri Club will remain in the hands of the Americans, after about four years of management by the company he founded Paul Singer.
RedBird Capital – which would have put a €1.3 billion bid on the table – defines itself asprivate investment fund, Focused on building fast-growing businesses with flexible, long-term capital in partnership with our network of entrepreneurs and family offices“.
Founded in 2014 by a former partner of Goldman Sachs Jerry CardinalToday, RedBird manages $6 billion in assets primarily in its leading verticals of sports, telecommunications, financial services and consumer. The goal is to reach 11 billion under management in a short time, a boost that can also be adopted with the purchase of Milan. RedBird’s network of innovators and business owners is central to its investment research strategy.
Who is RedBird Capital? Jerry Cardinale’s career
In addition to being its founder, Jerry Cardinal also serves as the managing partner of RedBird. As mentioned earlier, the institution’s history dates back to 2014 and can be defined as a natural extension of Cardinale’s 20-plus-year career at Goldman Sachs, where he was a partner in the company and a leader in private equity investing for banking. It manages more than $100 billion in private capital across equity, debt, real estate and infrastructure investment strategies.
During his tenure at Goldman Sachs, Jerry worked with entrepreneurs to build many successful multi-billion dollar companies, including Yankees Leisure & Sports (“Yes”) The Network, the premier regional sports network in the United States; Legends Hospitality, a premium ticketing, licensing and marketing company created in partnership with the New York Yankees and the Dallas Cowboys; And Suddenlink Communicationswhich was one of the largest American cable companies at the time of its acquisition by Altice.
Who is RedBird Capital? Links with the world of football
RedBird Capital already has a very important link with the world of football, specifically with LiverpoolThe best club in the English Premier League. A little over a year ago – in April 2021 – the fund became a shareholder in Fenway Sports Group (FSG), A global sports, marketing, media, entertainment and real estate platform, which owns the Reds Club of England.
The deal saw RedBird enter with a 10% stake, with Fenway Sports Group valued at $7.35 billion (and therefore, an investment of $735 million). The FSG has been in talks with the US investment firm for months, as it sought resources to mitigate the financial impact of the pandemic, which has cost Liverpool losses. 120 million pounds (about 141 million euros).
In doing so, RedBird became FSG’s third most important partner, and above all, Liverpool were able to carry out a transfer campaign at pre-pandemic levels, as well as continue the renovations of Anfield, the stadium that hosts matches. . Inside the Reds.
On this occasion, as part of the overall deal, the NBA star LeBron JamesAnd Maverick Carter And their longtime business partner Paul Wachter They exchanged a previous stake in Liverpool, becoming FSG shareholders with RedBird.
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