Otro Raises $1.2 Billion for First Buyout Fund Amid Sports Boom

Otro Capital raised $1.2 billion for its first flagship private equity fund, as the sports-focused firm capitalizes on soaring demand from large institutional investors for the burgeoning asset class.

The firm, founded in 2023 by alumni of RedBird Capital Partners with expertise in sports, surpassed its initial $500 million goal for Otro Capital Fund I, co-founder Alec Scheiner said in an interview.