The Fertitta brothers have officially unveiled their new business venture.
Monday, Frank and Lorenzo Fertitta formally announced the launch of Fertitta Capital, a private equity firm with stated plans to invest in “consumer-facing companies in technology, media and entertainment.” The firm's start-up money comes in the form of $500 million fronted by the brothers, who sold their majority ownership of the Ultimate Fighting Championship this past July in a ground-breaking $4 billion sale, the largest ever for a sports franchise.
"There is tremendous opportunity in the market for a firm that combines patient capital with this unique team of experienced investors and operators," Lorenzo Fertitta said via press release.