CalPERS Backs Sports Fund

April 30, 2001 ( - The California Public Employees'Retirement System (CalPERS) has invested $122 million in Sports Capital Partners, a private equity fund targeting investments in sports, media, leisure, lifestyle, and entertainment-related businesses.

CalPERS takes over a stake previously held by JP Morgan Chase Capital and is also committing additional capital, Sports Capital said Monday in a statement from London.

CalPERS’ investment brings the total capital committed to Sports Capital to $214 million.

The prominent sports marketing and management firm IMG founded Sports Capital in 1998. IMG’s management clients include golfer Tiger Woods and tennis players Venus and Serena Williams and Pete Sampras.

– John van Rosendaal