As the Spurs
close in on the NBA title, one former San Antonio player is killing it in a different competitive arena — finance.David Robinson, the 7-foot-1 centre who won two championships and an MVP during his 1989-2003 Spurs career, now runs a $250 real-estate focused private equity firm, Bloomberg reports.
The New York-based Admiral Capital Group — derived from Robinson’s on-court moniker — allocates 10% of the firm’s profits to community projects.
And Robinson counts Wall Street titans like Jamie Dimon among his friends and advisers. From Bloomberg:
“To use a basketball term, David’s approach to philanthropy makes him a triple threat,” Dimon said in a statement. “He’s passionate about making a difference, he’s smart and thoughtful about finding innovative ways to tackle tough social issues, and he’s humble enough to know he can always learn from others.”
Admiral joined Hilton Worldwide Inc. to launch a program that provides job training to low income students. It’s that spirit for community service that has won Robinson so much praise.
Spurs owner Peter Holt, who served in the U.S. Army, said he intends to make an undisclosed investment in Admiral Capital. Holt, who was awarded a Silver Star, three Bronze Stars and a Purple Heart for service in Vietnam, said there’s one reason why Admiral Capital — and not some behemoth investment bank — will get his money.
“If David’s involved, I’ll invest,” said Holt, chief executive of San Antonio-based Holt CAT, the largest Caterpillar dealership in the U.S. “I don’t know those guys on Wall Street, especially now when you trade 10,000 shares a minute.”
Robinson told Bloomberg he’ll sign some autographs, but he requires potential partners to make a commitment to the community before benefiting from his personal brand.
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