Dyal Capital is nearing a deal to make an funding within the Sacramento Kings Nationwide Basketball Affiliation crew, in accordance with folks acquainted with the matter, because the agency works to assemble a portfolio of stakes throughout the league.
The deal, which may very well be introduced as quickly as this week, would give the funding agency a virtually 5% stake within the crew at a valuation of $1.5 billion, the folks mentioned. (One other individual pegged the valuation at nearer to $1.8 billion.)
Dyal, a unit of the newly public Blue Owl Capital Inc., is greatest identified for taking minority stakes in private-equity and credit score companies. It will do the Kings transaction from its Dyal HomeCourt Companions fund, shaped to offer liquidity and development capital to groups throughout the NBA.
The deal could be its fund’s second such transaction. On July 6, Dyal mentioned it could take a similar-sized stake within the Phoenix Suns.
Dyal is initially hoping to lift about $1 billion for the fund and plans to construct a portfolio of minority investments in six completely different groups, with a objective of ultimately doubling that, in accordance with folks acquainted with the technique. It additionally may enhance its stake in an present holding if different minority homeowners want to promote.
Dyal Capital Nears Deal for Minority Stake in Sacramento Kings Source link Dyal Capital Nears Deal for Minority Stake in Sacramento Kings