Bucks announce NYC hedge fund manager Jamie Dinian is “substantial owner,” plus other connected investors
MILWAUKEE (WITI) — The Milwaukee Bucks have disclosed the identify of a “substantial” new owner — according to FOX6’s news partners at the Milwaukee Business Journal.
The Business Journal is reporting that substantial new owner is New York City hedge fund manager Jamie Dinan.
The Business Journal reports Dinan is the founder, chairman and CEO of York Capital Management, of New York City. He is 55 and founded the firm at age 32 in 1991, according to Forbes.com.
The Bucks said late Thursday that Dinan in July became an owner and describe his interest in the team as “substantial.” The Bucks said Marc Lasry and Wes Edens, who also are New York City investment executives, remain majority owners, according to the Milwaukee Business Journal.
Lasry and Edens bought the team in May for $550 million from Herb Kohl.
The Business Journal reports the Bucks have also announced additional connected investors, including Wisconsin Energy Corp. CEO Gale Kappa, Brookfield hospital and arena developer Jon Hammes and a group of prominent African-Americans in business including Cory Nettles and Valerie Daniels-Carter.
The group that includes Nettles and Daniels-Carter is called Partners for Community Impact LLC (PCI).
The Bucks said they believe the African-American investors group is the first of its kind in the NBA.
The members of Partners for Community Impact sought to join the Bucks organization shortly after hearing Lasry speak at a Metropolitan Milwaukee Association of Commerce board meeting in Milwaukee — according to the Milwaukee Business Journal.
The Business Journal says the Bucks haven’t disclosed dollar amounts for the new investments.
The Bucks had disclosed in July the identities of six southeast Wisconsin minority investors in the team. They are: Ted Kellner of Fiduciary Management and Fiduciary Real Estate; Keith Mardak of Hal Leonard Corp.; Craig Karmazin of Good Karma Brands; Teddy Werner of the Milwaukee Brewers; Lake Geneva private equity investor and real estate owner Mike Kocourek; and Kapco Inc. president Jim Kacmarcik.
CLICK HERE for more on this story via the Milwaukee Business Journal.