David Rubenstein, co-founder and co-chairman of The Carlyle Group, is leading a team that is on deck to buy a control stake of the Baltimore Orioles baseball team for $1.7 billion, according to a Major League Baseball announcement.
Also in the investor lineup that is buying the stake from the Angelos family, currently majority owner of the Orioles, are other ace alternative investors: Michael Arougheti, co-founder and chief executive officer and president of Ares Management Corp.; Mitchell Goldstein and Michael Smith, co-heads of the Ares' credit business; as well as Michele Kang, founder and CEO of Cognosante, a medical technology company, and Cognosante Ventures, a venture capital firm, according to the Jan. 31 MLB news release shows.
Others in the group aren't exactly bleacher bums. They include Cal Ripken, Jr., former Oriole's shortstop and third baseman and MLB Hall of Famer; Kurt Schmoke, former Baltimore mayor; Grant Hill, NBA Hall of Famer; and Mike Bloomberg, former mayor of New York.
The deal is subject to review and approval by MLB's ownership committee and a vote of approval by the entire MLB ownership.
"I am grateful to the Angelos family for the opportunity to join the team I have been a fan of my entire life," Rubenstein said in the release.
