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Mark Patricof’s private equity firm Patricof Co has “targeted athletes who wanted to put 10 to 30 percent of their wealth into private equity deals,” and it appears to be the first private equity firm “dedicated entirely to this line of business,” according to Ken Belson of the N.Y. TIMES. Patricof Co has “more than 200 professional athletes who have invested anywhere from $50,000 to half a million dollars in consumer brands.” The athletes on the firm’s roster range from Bengals QB Joe Burrow and former NFLer J.J. Watt to Pelicans G CJ McCollum and former NBAer Blake Griffin. Since 2018, Patricof Co has “teamed up on deals with KKR, Bain and other large firms to buy into consumer brands that dovetail with the athletes’ interests” and that they believe “have the potential to go public or be acquired in just a few years.” For a private equity firm, athletes “represent relatable celebrities who can also provide marketing muscle.” Patricof said that the “involvement of pro athletes distinguishes his investments.” Belson noted Patricof “recruited” partner Matt Siegel from Roc Nation “to connect with athletes.” Siegel “helped recruit some of the first athletes to join,” including Chiefs TE Travis Kelce, former NBAers Carmelo Anthony and Dwyane Wade and former MLBer C.C. Sabathia. Former Houlihan Lokey VP Daniel Magliocco, who specializes in mergers and acquisitions, was “hired to make the deals” and former Airbnb CMO Amy Curtis-McIntyre “joined to find ways the athletes could promote the companies Patricof Co invested in.” Players are reminded that “their money will be held for about five years and that returns are never guaranteed” (N.Y. TIMES, 7/20).