"The thing about the industry is that you can capitalize on the opacity that is there."
It was news to Erik Largen that he owned a stake in the Tampa Bay Lightning.
Largen is the head hockey coach at the University of Alaska Fairbanks, and like most Alaskans, he’s vested in the Alaska Permanent Fund, a state-owned endowment that oversees billions in holdings from Alaska’s oil and gas reserves. The fund pays each resident an annual dividend; last year’s was $1,114.
A few months ago, the Alaska Permanent Fund invested $50 million with Arctos Sports Partners, a Dallas- and New York-based private equity firm that specializes in acquiring limited shares of professional sports teams. Alaska’s $50 million is a drop in the bucket of Arctos’ initial $3 billion investment fund, but it still counts. Alaska has skin in the game.
Read more at the Tampa Bay Times