Joe Tsai single family office targets sports investing

In the scope of the recent Milken Institute Global Investors’ Symposium, the CEO of the Asian single family office Blue Pool Capital disclosed that the firm is eyeing further investments in the sports sector. The family office sees sports as an “actual asset class now”. The family office believes in the asset class because of an increasing interest in live sports and growth in media rights. Exemplary target sports leagues are the NFL, NBA, and NHL, as well as women’s soccer and basketball. Blue Pool Capital took over the American basketball team Brooklyn Nets for $3.5bn in 2019, including the home stadium “Barclays Center”. Previously, the team was owned by the Russian Mikhail Prokhorov. Besides that, the family also has stakes in the Women’s NBA team, team New York Libe, try and the Lacrosse team, San Diego Seals, as well as MLS team, team Los Angeles FC.

Blue Pool Capital: the single family office of Joe Tsai

Joe Tsai is a co-founder of the Chinese e-commerce giant Alibaba. His wealth is estimated at $8.4bn. Through his family office, Blue Pool Capital, Tsai is an active investor in capital markets, private equity, and sports. During the recent Milken Institute Symposium, Oliver Weisberg (the CEO of the Tsai family office) also stated that the family office is active in the Japanese real estate market.

Article Source: Asian Investor
Picture source: Kyle Osullivan