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In a move that echoes like a stadium roar heard around the globe, Otro Capital closes $1.2B fund, marking the largest debut, sports-dedicated buyout fund ever raised worldwide.

The New York-based private equity firm, guided by legal counsel at Gibson Dunn & Crutcher LLP, announced Tuesday that it had completed fundraising for its first flagship vehicle, securing $1.2 billion in capital commitments. The achievement vaults the firm into record territory for first-time sports-focused funds, according to a company statement.

A Record-Breaking Debut

The vehicle, officially named Otro Capital Fund I, surpassed its original fundraising target by a substantial margin. The firm said the capital will be directed toward cash-generating, middle-market companies — businesses either built by accomplished founders or anchored in enduring intellectual property. These are enterprises seeking not just capital injections, but strategic collaboration.

“Our primary goal is to treat sports properties like real businesses,” co-founders Alec Scheiner and Brent Stehlik said in a joint statement. They underscored their conviction that sports franchises and related ventures worldwide will continue to command outsized attention and loyalty — an allegiance that, like a die-hard fan base, rarely wavers.

The pair added that they see opportunities to expand existing revenue channels, unlock untapped ones, and even forge entirely new business models in the sports ecosystem.

Capital Already in Motion

Even before the fundraising ink dried, Otro Capital had begun putting money to work.

Early Investments Signal Ambition

The firm has deployed capital into a range of sports-adjacent ventures, including:

• Alpine Racing, a Formula 1 team competing on the global motorsport stage.

• Two Circles, a sports data and fan engagement platform.

• FlexWork Sports, a business focused on youth sports events and marketing.

The early investments reflect a strategy that stretches from elite international competition to grassroots athletics — a spectrum as wide as the sports industry itself.

A Global Investor Roster

Backers of the fund span continents and asset classes. Pension funds, retirement systems, wealth management platforms, endowments, foundations, family offices and strategic investors all committed capital to the inaugural fund.

“Our investors backed us because they believe we are differentiated in the sports ecosystem,” Scheiner and Stehlik said. They added that the firm’s ability to consistently align with premium rights holders and top-tier founders stems from a shared language and lived operational experience in the industry’s trenches.

Built by Industry Veterans

Founded in 2023 and headquartered in New York, Otro Capital was assembled by professionals with backgrounds that bridge institutional investing and hands-on sports operations.

The founding partners’ résumés include involvement with major professional leagues such as the NFL, NBA, MLB, NHL and Formula 1. Their experience also spans sports analytics, marketing, youth sports enterprises, ticketing operations, media ventures and stadium infrastructure projects, according to the statement.

Details regarding the full legal team at Gibson Dunn advising on the fundraising were not immediately available.