Lorenzo Fertitta and Frank Fertitta III have announced their first major venture since selling their stake in mixed martial arts promotion the UFC for $US4 billion last year.
Private investment firm Fertitta Capital was launched on May 1 and is committed to investing in “consumer-facing companies in the technology, media, and entertainment sectors.“
The Fertittas are renowned Las Vegas entrepreneurs and one of their greatest deals involved acquiring the rights and assets of the UFC in 2001 for $US2 million.
Some 16 years later they sold the live events company to a Hollywood agency for a 2,000% profit.
Lorenzo Fertitta and Frank Fertitta III were both $US1.9 billion wealthier as a result of the deal and have now launched Fertitta Capital with an “initial seed investment of $US500 million.“
Lorenzo Fertitta, chairman of Fertitta Capital, said: “There is tremendous opportunity in the market for a firm that combines patient capital with this unique team of experienced investors and operators.
“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.”
Though the Fertitta brothers have made a substantial investment in Fertitta Capital, there have been continuing rumours that they could buy an NFL team, according to UFC president Dana White and various media organisations.
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