Alternative asset manager TPG has formed a partnership with professional golfer Rory McIlroy and his investment firm, Symphony Ventures, to launch a dedicated sports investing business called TPG Sports.
TPG Sports will pursue investment opportunities across sports, focused on partnering with companies, teams and leagues shaping the future of sports, said a news release May 1.
Under terms of the partnership, McIlroy and his business partner, Sean O'Flaherty, will serve as operating partners of TPG Sports, “contributing to sourcing investments and value creation across the portfolio,” the news release said.
TPG Sports has secured a “significant anchor commitment” from an investment vehicle managed by Lunate, an Abu Dhabi-based independent alternative investment manager with more than $110 billion in assets under management.
“The sports landscape is evolving in real time, and the ways we play, watch and interact with sports are changing in exciting ways,” McIlroy said in the release. “With TPG Sports, we have the capabilities, capital and insights to invest behind and grow the businesses that are enabling this transformation.”
Todd Sisitsky, president of TPG, said in the release that the “continued global rise in sports viewership and fandom is creating new opportunities that demand creative, growth capital. This is a unique moment in time for sports that calls for a differentiated approach to investing.”
Through Dublin-based Symphony Ventures, McIlroy and O'Flaherty have been active investors across sports and other markets for nearly a decade and have partnered with TPG before on a number of investments over the past six years, including Troon Golf, an owner and operator of golf courses throughout the world.
TPG has made investments in such properties as sports and entertainment agency Creative Artists Agency, Entertainment Partners, DIRECTV, Dream11, Fandom, Musixmatch, Spotify and Troon, among others.
Kyle Walters, private equity analyst at PitchBook, commented that the process of TPG entering the sports world has been underway for a few months and has now come full circle with the launch of TPG Sports.
“Moreover, TPG is the latest example of legacy PE firms entering the space, intrigued by the attractive prospects of the sports and media ecosystem,” he said. “Additionally, this is not the first time TPG has worked closely with Rory McIlroy, as the two sides worked on TPG's acquisition of golf facilities services company Troon. Partnering with McIlroy allows the two sides to benefit from the scale and reach that TPG has as an alternative asset manager, while allowing a globally renowned athlete like McIlroy to be the face of the partnership, in addition to the expertise he and his group bring.”
TPG has $246 billion in assets under management.
McIlroy recently completed his career Grand Slam by winning the 2025 Masters Tournament in Augusta, Ga. He has also won the PGA Championship, U.S. Open, and British Open.
Private equity firms have acquired stakes in various professional sports teams around the world, including clubs in Major League Baseball, National Football League, National Basketball Association, Major League Soccer, Premier League, among others.
