Otro Capital announced it has closed its inaugural sports fund with $1.2 billion of committed capital across Fund I and affiliated investment vehicles, exceeding the fund’s initial target. The New York-based firm described Fund I as the largest first-time dedicated sports buyout fund ever raised globally, positioning the raise as a marker of growing institutional appetite for scaled strategies focused on sports properties and the broader sports economy.
The firm said Fund I’s limited partners include a global mix of pension plans, retirement systems, wealth platforms, endowments, foundations, family offices, and strategic investors. Otro was founded in 2023 and is led by founding partners Alec Scheiner, Brent Stehlik, Niraj Shah, and Isaac Halyard, who the firm said have worked together for the past decade across institutional investing and operating roles in sports businesses.
Otro said its approach blends private equity discipline with hands-on operating expertise, targeting cash-flowing middle-market businesses where professionalized operations, intellectual property, and enhanced governance can drive value creation. The firm said its team’s experience spans major leagues and sports ecosystems globally, including the NFL, NBA, MLB, NHL, Formula 1, the English Premier League, and the Indian Premier League, along with adjacent categories such as players’ associations, analytics, marketing, licensing, youth sports, media, ticketing, entertainment, and stadium infrastructure.
Since launching Fund I, Otro said it has deployed capital into multiple investments, including Alpine Racing, one of eleven Formula 1 teams globally, as well as Two Circles, a fan engagement and sports data platform, and FlexWork Sports, a youth sports event and marketing business.
Support: PJT Park Hill and August Advisors served as placement agents for Fund I, and Gibson, Dunn & Crutcher LLP provided legal counsel. The firm said that as of December 31, 2025, it had an estimated $1.3 billion in assets under management.
KEY QUOTE:
“Our primary goal is to treat sports properties like real businesses. We are confident that sports assets and adjacent businesses, around the world, will continue to disproportionately capture peoples’ attention and loyalty. We believe we can increase existing revenue streams, tap into new ones, and even create wholly new business models. Our investors backed us because they believe we are differentiated in the sports ecosystem. And, we have been able to consistently partner with premium rights holders and world class founders in the industry because we speak their language and have lived their operational challenges.”
Alec Scheiner, Co-Founder and Partner, Otro Capital; Brent Stehlik, Co-Founder and Partner, Otro Capital
