Admiral Capital

NBA Star David Robinson's Admiral Capital Group

One of the great players in the NBA heads Admiral Capital, a private equity group that just acquired its first company, Centerplate Inc. David Robinson was a dominating presence during his 14 years as the San Antonio Spurs' center and now he has entered the private equity industry.

Robinson earned the nickname "the Admiral," a nod to his service with the U.S. Navy--though he actually held the rank of Lieutenant, Junior Grade. His private equity firm adopted his nickname and Admiral Capital Group even adheres to what it calls "the Admiral Approach" toward its business. An essential aspect of business is presence and standing at 7 foot 1 inch with two NBA Championship rings, he must be a towering figure in negotiations.

David Robinson is one of several professional athletes that have put their salaries to work in private equity. Most pro athletes want to make a difference in the community and a profit, too; private equity seems to answer both desires. The Deal adds this selection of notable athletes that made the transition to private equity:

• Former NBA Hall of Famer Earvin "Magic Johnson is one of the most successful, with his private equity fund Canyon-Johnson Urban fund, which invests in under-served urban areas.
• Former New England Patroits quarterback Drew Bledsoe founded Bledsoe Capital Group, a venture capital and private equity group primarily focused on emerging clean technologies.
• Former San Francisco 49ers quarterback Steve Young was a co-founder of private capital firm Sorenson Capital, which focuses on small-to-middle-market buyouts. He's currently a managing director at Huntsman Gay Global Capital, which was founded by billionaire industrialist Jon M. Huntsman and former Bain Capital executive Robert C. Gay. - Gerald Magpily and George White

David Robinson will be inducted into the NBA Hall of Fame in September of this year, along with Michael Jordan.

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Tags: private equity athletes, private equity david robinson, david robinson admiral capital, admiral capital group, robinson buyout, admiral capital centerplate

Link to This Resource: Admiral Capital

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