NEW YORK (CelebrityAccess) — Private equity investor Silver Lake Partners announced that they’ve made a “strategic investment” in venue management and entertainment company Oak View Group.
Founded in 1999, Silver Lake currently has $39 billion in combined assets under management, with a tech-focused investment portfolio that includes stakes in companies such as search giant Alibaba Group, martial arts promoter UFC, and talent agency Endeavor.
Oak View Group was founded in 2015 by Tim Leiweke and Irving Azoff to be a positive disruptor in sports and entertainment. The company currently has more than 200 employees across offices in Los Angeles, Seattle, and New York City. OVG’s business divisions include OVG Business Development, OVG Global Partnerships, OVG Media and Conferences, OVG Facilities, Prevent Advisors and the Arena and Stadium Alliance, a select group of top U.S. venues.
“In less than three years, Oak View Group has made a significant positive impact on the sports and entertainment facilities landscape. I am very proud of what we have accomplished in such a short time. This deal with Silver Lake provides us with capital to continue to grow our business as well as invaluable expertise and relationships. I am thrilled to have them as my partner,” said Oak View Group’s Tim Leiweke.
OVG was recently awarded the right to redevelop Key Arena in Seattle with partners David Bonderman and Jerry Bruckheimer and played a major role in attracting an NHL team to the city for the first time.
OVG also partnered with New York Mets COO Jeff Wilpon and the NY Islanders to form a consortium that was awarded the right to build a new arena for the adjacent to the Belmont Racetrack in New York.