Headquartered in Dallas, Texas, Arctos is a sports-focused private investment firm that was founded in 2019 and has stakes in multiple teams, leagues and sports adjacent businesses.
Source of funding
Table of Contents
- Source of funding
- Investment thesis
- Key personnel
- Transaction history
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- Golden State Warriors
- Premier Lacrosse League
- Sacramento Kings
- Drive by DraftKings
- Minnesota Wild, Tampa Bay Lightning
- Atalanta
- Elevate
- Jackpot
- Utah Jazz
- SeatGeek
- Portland Timbers, Thorns
- GeoComply
- 359 Capital
- Joe Gibbs Racing
- Philadelphia 76ers, New Jersey Devils
- Aston Martin
- Paris Saint-Germain
- Buffalo Bills
- Los Angeles Chargers
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- Other notable investments
Bears raised more than US$2.1 billion for its first flagship fund in October 2021 before closing its second fund in April 2024 with more than US$4.1 billion in capital commitments, including from pension funds, retirement systems, endowments, insurance companies, family offices and global wealth platforms.
The closing of the second fund brought Arctos’ sports-related assets under management to approximately US$7 billion. The two funds represent the world’s largest aggregation of institutional capital dedicated exclusively to professional sports franchise investments.
Investment thesis
Launched in April 2020, Arctos believes that owning a stake in a professional sports team offers a blend of consistent growth and lower risk compared to traditional investments. The firm also sees significant opportunities to provide liquidity and growth capital to what it describes as a historically ‘inefficient market’.
Focusing primarily on North America, Arctos has prioritised building a portfolio of minority stakes in multiple teams over majority ownership in a select few. It is the only private investment firm approved to own equity across all five major men’s professional leagues and is the largest institutional owner of North American sports equity globally.
Broadly speaking, it is understood that the company aims to invest in franchises with long-term competitive advantages who it can help achieve further growth. Its focus is also purely on the commercial side of team operations rather than sporting activity.
Arctos has over 20 franchises in its portfolio across the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the National Hockey League (NHL) and Major League Soccer (MLS).
Although the firm has a strong focus on North American sports, it has adopted a global, multi-league, multi-franchise strategy. This has seen it expand into European soccer, investing in French giants Paris Saint-Germain, Italian side Atalanta and Liverpool owner Fenway Sports Group (FSG), as well as entering Formula One with Aston Martin.
Arctos’ wider portfolio includes ticketing platform SeatGeek and sports consultancy Elevate, while it has also participated in funding rounds for venture capital funds like Drive by DraftKings and 359 Capital.
Though the firm has committed to unlocking more capital for partners and the broader sports ecosystem, its co-founder and managing partner Ian Charles has said the company favours the US sports team market because of European soccer’s volatile economics. Charles has also distanced the company from college sports.
Arctos also launched Arctos Capital Markets (ACM) in September 2025 to help identify and connect investors with sports ownership opportunities.
Arctos is the largest institutional owner of North American sports equity globally, though it has a global, multi-league, multi-franchise strategy
Key personnel
Ian Charles – Co-Founder and Managing Partner
Appointed: October 2019
Role: Charles directs investments strategy, firm governance and investor relations.
Background: Prior to co-founding Arctos, Charles was a partner at private equity company Landmark Partners for more than 13 years. Before that, he was a co-founder at Cogent Partners, a provider of advisory services to the private equity secondary market.
David O’Connor – Co-Founder and Managing Partner
Appointed: October 2019
Role: O’Connor leads value creation, sourcing, executing and managing investments for Arctos’ sports strategy. He is also responsible for directing the company’s business strategy, governance and leadership team.
Background: Before co-founding Arctos, O’Connor was president and chief executive of the Madison Square Garden (MSG) Company. He also spent more than 30 years at Creative Artists Agency (CAA), where he was a managing partner.
Chad Hutchinson – Partner
Appointed: October 2021
Role: Hutchinson is responsible for Arctos’ investment activity in operating companies and real estate, sitting on the board of directors for Aston Martin, SeatGeek, Elevate and GeoComply.
Background: A former MLB pitcher and NFL quarterback, Hutchinson was previously a managing director at private equity firm Sixth Street and co-founded investment fund Wakestorm Capital.
Jordan Solomon – Partner and Co-Founder
Appointed: November 2019
Background: Solomon was previously executive vice president of MSG Sports for the Madison Square Garden Company and has also served as vice president of team marketing and business operations at the NBA.
Brian Lafemina – Partner
Appointed: April 2024
Background: Lafemina was promoted to partner in August after joining as operating partner. Before joining Arctos, he was chief business officer for the organising committee for the LA28 Olympic Games. Prior to that, Lafemina spent nearly ten years in the NFL league office before serving as president of business operations and chief operating officer for the Washington Commanders.
Alastair Seaman – Partner
Appointed: September 2020
Role: Seaman is responsible for sourcing, evaluating and managing Arctos’ investments throughout Europe.
Background: Seaman was previously a vice president at Goldman Sachs in New York and has also held roles at HarbourVest Partners, Epic Private Equity and SVG Capital.
Zach Baran – Managing Director
Appointed: September 2019
Role: Baran is responsible for all aspects of evaluation and execution for Arctos, as well as leading thematic and data-driven research initiatives.
Background: Baran was previously an associate at global growth equity firm Warburg Pincus, which he joined from Goldman Sachs.
Transaction history
Golden State Warriors
Deal value: US$275 million
Type: Minority stake
Sport: Basketball
Market: North America
Date: April 2021
Bears’ purchase of a reported five per cent stake in the Golden State Warriors valued the franchise at US$5.5 billion. It was the first private equity investment in an NBA team since the league changed its rules to allow institutional investors.
Premier Lacrosse League
Type: Funding round
Sport: Lacrosse
Market: North America
Date: June 2021
Arctos co-lead a funding round for the Premier Lacrosse League (PLL), alongside the Kraft Group and Joe Tsai.
Sacramento Kings
Deal value: US$306 million
Type: Minority stake
Sport: Basketball
Market: North America
Date: September 2021
The Kings were the second NBA team to join Arctos’ portfolio. According to Sportythe firm acquired a 17 per cent in the franchise in a deal valuing the team at US$1.8 billion.
The Sacramento Kings are one of four NBA teams in Arctos’ portfolio (Image credit: Getty Images)
Drive by DraftKings
Type: Funding round
Sector: Venture capital
Market: North America
Date: October 2021
Multi-stage venture capital firm Drive by DraftKings announced its first fund of US$60 million, with Arctos among the investors.
Minnesota Wild, Tampa Bay Lightning
Type: Minority stake
Sport: Ice hockey
Market: North America
Date: January 2022
Arctos made a pair of NHL team investments to kick off 2022, including securing a ten per cent share in the Wild.
The company increased its stake in the Lightning in 2023 in a deal reportedly valuing the franchise at US$1.4 billion. It then offloaded a portion of its interest in the team as part of Jeff Vinik’s sale of his majority stake to an investor group led by Doug Ostrover and Marc Lipschultz.
Atalanta
Deal value: €34 million
Type: Minority stake
Sport: Soccer
Market: Europe
Date: May 2022
Arctos invested a reported €34 million for a minority stake in Italian soccer club Atalanta.
Elevate
Type: Minority stake
Sector: Agencies
Market: North America
Date: May 2022
Arctos closed its investment in global consulting firm Elevate Sports Ventures, joining existing partners Oak View Groupthe San Francisco 49ersLive Nation, and Harris Blitzer Sports & Entertainment (HBSE).
Jackpot
Type: Series A
Sector: Online lottery
Market: North America
Date: June 2022
Online lottery platform Jackpot raised US$35 million in a Series A round featuring Arctos.
Arctos has grown its presence in European soccer through investments in Champions League winners PSG and Italian side Atalanta (Image credit: Getty Images)
Utah Jazz
Type: Minority stake
Sport: Basketball
Market: North America
Date: August 2022
Bears’ investment in the Utah Jazz came through a partnership with Smith Entertainment Group (SEG). The deal also saw the firm secure minority stakes in the NBA team’s Vivint Arena, MLS’s Real Salt Lake and the National Women’s Soccer League’s (NWSL) Utah Royalsas well as what would later become NHL franchise the Utah Mammoth.
SeatGeek
Type: Series E financing round
Sector: Ticketing
Market: North America
Date: August 2022
Arctos was part of SeatGeek’s US$238 million Series E financing round, which came after the ticketing firm’s SPAC merger with RedBall collapsed and valued the company at US$1 billion.
Portland Timbers, Thorns
Type: Minority stake
Sport: Soccer
Market: North America
Date: September 2022
Details emerged that Arctos bought a minority stake in MLS’s Portland Timbers and the NWSL’s Portland Thorns in a deal that was completed at a reported enterprise value of US$600 million.
GeoComply
Type: Minority stake
Sector: Geolocation technology
Market: North America
Date: January 2023
Geolocation security provider GeoComply announced minority investments from Arctos and Norwest Venture Partners to support its growth in core markets and accelerate expansion into financial services and media rights management.
359 Capital
Type: Funding round
Sector: Venture capital
Market: North America
Date: January 2023
Arctos was among the new limited partners in Sapphire Sport’s second fund, which raised US$181 million. The venture capital firm was spun out from Sapphire Ventures and rebranded as 359 Capital in November 2025.
Joe Gibbs Racing
Type: Minority stake
Sport: Motorsport
Market: North America
Date: June 2023
Arctos made its first dedicated motorsport investment together with HBSE, securing what it described as a ‘significant’ minority stake in the Joe Gibbs Racing Nascar team.
Philadelphia 76ers, New Jersey Devils
Type: Minority stake
Sports: Basketball, ice hockey
Market: North America
Date: July 2023
Shortly after that Nascar move, Sportico reported that Arctos deepened its ties with HBSE, acquiring a larger stake in the parent company of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils. Arctos had initially invested in HBSE in 2022 at a reported valuation of US$3 billion.
The Aston Martin F1 team was valued at a reported UK£1bn following a 2023 investment by Arctos (Image credit: Getty Images)
Aston Martin
Type: Minority stake
Sport: Motorsport
Market: Global
Date: November 2023
Arctos made another motorsport move by buying a minority stake in the Aston Martin Formula One team, which valued the outfit at a reported UK£1 billion.
The stake percentage was not disclosed but Aston Martin’s value has risen significantly in the last few years, with Sporty valuing the team at US$2.07 billion in 2024, an increase of 82 per cent year-over-year (YoY).
Paris Saint-Germain
Type: Minority stake
Sport: Soccer
Market: Europe
Date: December 2023
Arctos Swooped for a Stake in Paris Saint-Germain in a deal that saw the firm acquire as much as 12.5 per cent of the French soccer giants, who were valued at more than US$4 billion in the deal.
Since Arctos’ investment, PSG have gone on to win their first Uefa Champions League and rank third in the 2025 edition of the Deloitte Football Money Leaguebehind only Real Madrid and Manchester City. Les Parisiens also posted record revenue of €837 million for the 2024/25 financial year.
Buffalo Bills
Deal value: US$580 million
Type: Minority stake
Sport: American football
Market: North America
Date: December 2024
December 2024 saw the Buffalo Bills and Miami Dolphins sign the first private equity deals in NFL history, with Arctos taking a ten per cent stake in the Bills at a reported valuation of US$5.8 billion. The ten per cent stake is the maximum amount permitted under the NFL’s new rules allowing private equity funds to invest in any given franchise.
Los Angeles Chargers
Type: Minority investment
Sport: American football
Market: North America
Date: May 2025
Arctos followed up its deal for the Bills by becoming the first private equity firm to secure an ownership stake in a second NFL team, acquiring eight per cent of the Los Angeles Chargers.
Arctos closed its second fund in April 2024 with more than US$4.1 billion in capital commitments, brining the firm’s sports-related assets under management to approximately US$7 billion
Other notable investments
Fenway Sports Group
Type: Minority investment
Sports: Baseball, soccer, motorsport, ice hockey
Markets: North America, Europe
While it is not known precisely when Arctos partnered with Fenway Sports Group (FSG), the relationship gives the firm a minority stake in Premier League champions Liverpool, MLB giants the Boston Red SoxNHL franchise the Pittsburgh Penguins and Nascar team RFK Racing.
Los Angeles Dodgers, Chicago Cubs, San Francisco Giants, San Diego Padres, Houston Astros
Type: Minority investment
Sport: Baseball
Market: North America
Though Arctos has not announced its MLB team investments, Sportico reported in 2022 that the firm had invested in five other franchises in addition to the Boston Red Sox.
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