#United States #Salt Lake City #Cynosure #Checketts #Sports Capital

Dave Checketts and The Cynosure Group Announce a New Private Equity Joint Venture

On April 21, 2025, notable sports business executive Dave Checketts collaborated with The Cynosure Group to unveil a groundbreaking venture — the Cynosure | Checketts Sports Capital Fund I. This initiative aims to influence the global sports landscape with investments exceeding $1.2 billion. With offices positioned in both New York and Salt Lake City, the partnership is actively addressing opportunities across the sports sector, already having several deals in progress.

A Dream Collaboration

In aligning their extensive experience, Checketts, who has three decades of active participation in the sports industry, joins forces with The Cynosure Group, a firm known for its diverse investment strategy. Their collaboration promises a robust formation that not only revitalizes their prior alliances—such as keeping the Utah Jazz in Salt Lake City—but also aims to forge a formidable presence in the competitive realm of sports investments.

"This partnership is a dream come true for me, reuniting me with the Eccles family, who were key in keeping the Jazz in Salt Lake City," stated Checketts. The partnership underscores Checketts' vision to create a significant impact and leverage investment opportunities that will help drive the future of sports on a global scale.

Targeting Investment Avenues

Cynosure | Checketts Sports Capital intends to focus on multiple segments within the sports domain, which encompass:

• - Professional and collegiate sports teams
• - Sports leagues and governing bodies
• - Development and enhancement of stadiums, arenas, and sports facilities
• - Innovations in sports technology
• - Investments in media rights and broadcasting ventures

This multi-faceted approach aims to address various stakeholders in the sports arena, thus creating a comprehensive portfolio that capitalizes on the industry's growth potential.

Leadership Insights

Spencer P. Eccles, managing director of Cynosure, expressed his admiration for Checketts, reflecting upon their historical relationship, particularly during the era when the Eccles family’s bank provided funding for the Jazz. He noted, “This venture brings together Dave's storied career in the business of sport and his remarkable team, with Cynosure's disciplined investment process and financial horsepower.”

Adding to the narrative, Randal Quarles, Chairman of The Cynosure Group and a former Vice Chairman of the Federal Reserve, emphasized the unique asset value that sports present, reinforcing their position for future growth opportunities.

Dave Checketts: A Proven Entrepreneur in the Sports World

With a career spanning over 40 years, Dave Checketts has held prestigious positions including the President and CEO of the Utah Jazz, President of the New York Knicks, and CEO of Madison Square Garden. Under Checketts' leadership, significant transformations took place, revitalizing franchises to become top competitors.

Checketts has not only been pivotal in shaping key franchises but has also earned accolades, including founding the New York Liberty. As a team owner, he celebrated victories with the St. Louis Blues and Real Salt Lake. Now, through his firm, Checketts Partners Investment Management, he continues to steer investments towards sports and entertainment.

The Cynosure Group's Background

Founded in 2013, The Cynosure Group operates on a vision of addressing various investment challenges through innovative strategies, managing substantial funds for numerous family offices, endowments, and institutional investors. With a strong background in various disciplines, Cynosure ranked fourth in Newsweek's 2024 evaluation of leading investment firms, indicating their influence and reach in the financial market.

In summary, the partnership between Checketts and The Cynosure Group signals a transformative era in sports investment. With a strategy focused on high-potential segments and an experienced leadership team, Cynosure | Checketts Sports Capital is poised to establish a significant footprint in the global sports industry.