When former NBA player David Robinson invests he likes to get a 20 percent return. That doesn’t explain why Robinson’s teamed up with a former Goldman Sachs executive for Admiral Capital Group, a private equity firm.
Robinson formed private equity firm Admiral Capital Group last year with a former Goldman Sachs executive, and this week they made their first investment, buying an undisclosed stake in food service company Centerplate.
Robinson, 43, and his partner, Daniel Bassichis, will look to invest in companies that offer a strong financial return as well as making a social impact.
Centerplate has handled big events like Super Bowls, the Belmont Stakes, and six presidential inauguration balls. Sounds like a solid company and 1000 times better than going with Lenny Dykstra’s advice.
NBA legend’s equity firm takes stake in Centerplate [Reuters via Guardian]
