Fertitta Capital, a new private investment firm, has been launched with an initial seed investment of $500 million from brothers Frank and Lorenzo Fertitta. Fertitta Capital will invest across the capital structure in consumer companies in the technology, media and entertainment sectors.
“There is tremendous opportunity in the market for a firm that combines patient capital with this unique team of experienced investors and operators,” said Lorenzo Fertitta, Chairman of Fertitta Capital. “Our long-term view enables us to avoid mandated investment timelines and instead focus exclusively on what really matters—understanding the needs of the companies we partner with and helping them achieve their operational and financial objectives.”
The Fertitta brothers have a history of building successful companies in industries in which they have invested and operated. In 2016, they sold Ultimate Fighting Championship (UFC) to entertainment, sports and fashion company WME|IMG. That same year, they also sold Fertitta Entertainment, a gaming and leisure management company, as part of their IPO of Red Rock Resorts, a developer and operator of casino entertainment properties.
Nakisa Bidarian will lead Fertitta Capital as CEO and co-founder and be responsible for the deployment of capital. Before joining Fertitta Capital, Mr. Bidarian served as the CFO of UFC and earlier he held positions at Accenture, Citi, Morgan Stanley and, most recently, the Mubadala Development Company, a multi-billion-dollar sovereign investment company, where he led their international real estate investment efforts.
“It is a privilege to be able to continue to work with Lorenzo and Frank who I greatly admire both personally and professionally,” said Mr. Bidarian. “They bring unparalleled experience to every business opportunity and a drive to win that is evidenced by their undisputed, successful track record. With Fertitta Capital, we’ve created a special firm that will leverage our collective experience across multiple industries and provide bespoke solutions based on each opportunity. Our investment philosophy will be driven by partnering with exceptional people who we believe can achieve extraordinary results.”
Mr. Bidarian will be joined at Fertitta Capital by Sam Bakhshandehpour who will be a Managing Director. Mr. Bakhshandehpour was formerly the CEO of SBE Entertainment, a hospitality, real estate and entertainment company, and before that spent the majority of his 15-year Wall Street career at J.P. Morgan where he was the global head of gaming and the west coast head of real estate & lodging investment banking.
Fertitta Capital has offices in Los Angeles and Las Vegas (www.fertittacapital.com).
© 2017 Private Equity Professional | May 2, 2017