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Private Equity & Investing Trends

Sports and media business veteran Matt Rizzetta is opening private-equity firm Underdog Global Partners to focus on investing in sports, real estate and media intellectual property. The Wall Street Journal
Every middle aged man (and I assume many middle aged women) want to be investors in a sports team (and maybe in a bar). Most of us have no hope here — it’s a game for the billionaires.
When colleagues get super rich they go looking to buy part of a sports team and fly private. When they get OK rich they buy a nice car, join another club and fly first class. If you fly first class and no one you know sees you, are you really flying first class?
Are there too many PE funds? This was a discussion this week across several platforms. There are nearly 7000 PE firms and 18000 funds in the US. With the inability to buy assets at reasonable prices coupled with high cost debt and softness in exits, many funds are finding things very tough. We are seeing some funds crash and burn.
Smaller and mid-market funds are hit hardest. One PE investor noted “There are too many PE funds, particularly in the middle market. Most are undifferentiated and frankly have no reason to exist.”