Private equity firm, Arctos Sports Partners is investing €34 million for a minority stake in Italian football club Atalanta.
Steve Pagliuca, managing owner of the National Basketball Association’s (NBA) Boston Celtics, ‘helped make the connection’ with Dallas-based Arctos to buy into the Serie A outfit.
Pagliuca, who failed in a bid to buy English football giant Chelsea and leads private equity firm Bain Capital, headed up a group of US-based investors that acquired Atalanta in February from the Percassi family.
It has not been reported whose Atalanta equity Arctos bought.
Arctos has more than $5 billion in total assets, having closed on $1.1 billion for a new fund last week. The Atalanta purchase is through Arctos’ first fund, which itself has $3.9 billion in capital.