Otro Capital has closed its inaugural vehicle, Otro Capital Fund I and affiliated vehicles, with $1.2 billion in committed capital, significantly exceeding its initial target. 

According to the firm, Fund I represents the largest first-time, dedicated sports buyout fund ever raised globally. The investor base includes a broad mix of pension plans, retirement systems, wealth platforms, endowments, foundations, family offices, and strategic investors. 

Founded in 2023, Otro Capital was launched by partners Alec Scheiner, Brent Stehlik, Niraj Shah, and Isaac Halyard. Collectively, the founders bring experience across major global sports leagues including the NFL, NBA, MLB, NHL, Formula 1, the English Premier League, and the Indian Premier League, as well as across adjacent sectors such as sports analytics, media, licensing, ticketing, youth sports, and stadium infrastructure. 

Based in New York, Otro Capital targets investments where professionalized operations, intellectual property, and enhanced governance can unlock value, with a focus on cash-flowing, middle-market businesses within the global sports ecosystem. 

“Our primary goal is to treat sports properties like real businesses,” said Scheiner and Stehlik. “We believe we can increase existing revenue streams, tap into new ones, and even create wholly new business models.” 

Since launching Fund I, Otro has already deployed capital across several investments, including Alpine Racing, one of just eleven Formula 1 teams globally; Two Circles, a fan engagement and sports data platform; and FlexWork Sports, a fast-growing youth sports event and marketing business. 

PJT Park Hill and August Advisors served as placement agents for the fund, while Gibson, Dunn & Crutcher provided legal counsel.