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Einhorn Joins a Elite Clubhouse of Financiers

May 27, 2011

David Einhorn, the hedge fund manager who has agreed to buy a minority stake in the New York Mets, joins a relatively small club: big-time financial moguls who own a piece of a prominent sports team.

Here’s a rundown of other members of that circle:

  • John W. Henry:  the fund manager and serial baseball team acquirer who owns the Boston Red Sox as part of a member of Fenway Sports Group. (The New York Times Company also belongs to the consortium.) Fenway Sports also purchased the Liverpool Football Club last October from Thomas O. Hicks.
  • Stephen G. Pagliuca, Wycliffe Grousbeck, Glenn Hutchins, David Bonderman, James Pallotta: the all-star list of financiers are on the board of the Boston Celtics‘ owner, Boston Basketball Partners. Mr. Pagliuca is a managing partner at Bain Capital, Mr. Grousbeck was previously an executive at Highland Capital Partners, Mr. Hutchins is a cofounder of Silver Lake, Mr. Bonderman is a co-founder of TPG Capital and Mr. Palotta is the chief of Raptor Capital Management.
  • Tom Gores: the head of the private equity firm Platinum Equity who agreed last month to buy the Detroit Pistons basketball team, pending N.B.A. approval.
  • Jeffrey N. Vinik: the head of Vinik Asset Management and a former head of Fidelity’s flagship Magellan fund who owns the Tampa Bay Lightning hockey team.
  • Joe Lewis: the wealthy British businessman who owns the Tottenham Hotspur soccer team through his Tavistock Group investment vehicle. Mr. Lewis gained new prominence in late 2007 when he bought a big stake in Bear Stearns — only to be wiped out when the investment bank was sold to JPMorgan Chase for $2 a share.
  • Joseph Lacob: a partner at the venture capital firm Kleiner Perkins Caufield & Byers who led the group that purchased the Golden State Warriors basketball team last year.
  • Mark Attanasio: a former executive at TCW Group and currently the managing partner of Crescent Capital Group who owns Mr. Einhorn’s favorite baseball team, the Milwaukee Brewers.    [NYTimes 5/27/11]