Former UFC co-Owners LORENZO and FRANK FERTITTA have started Fertitta Capital with $500M and "plans to invest directly in consumer-facing companies in technology, media and entertainment," according to Juliet Chung of the WALL STREET JOURNAL. The Fertittas "join a growing number of families looking to do private equity-style deals through their family offices ... or similar ventures." Lorenzo Fertitta said, "It was, 'We've sold the UFC, we've got some liquidity, what do we do next?'" He said that the "creation of a direct-investing firm helps fill a void in the market: long-term, flexible capital." He said that his "dissatisfaction with his courtship by would-be buyers earlier in UFC’s history sparked the thought." Fertitta Capital will "take minority positions in companies, though controlling stakes and larger deals" of up to $500M are possible. Former UFC CFO NAKISA BIDARIAN will run Fertitta Capital day-to-day with former SBE Entertainment Group President SAM BAKHSHANDEHPOUR. Execs said that they are "talking with management teams in the fitness, food and beverage and sports sectors, among others" (WALL STREET JOURNAL, 5/1).
