Less than a year after the sale of the UFC, the Fertitta brothers are making their next bold move in the business world.
On Monday, Frank and Lorenzo Fertitta announced the formation of Fertitta Capital, a private equity firm with plans to invest in consumer-facing companies in technology, media and entertainment.
The Las Vegas casino magnates, who sold their majority stake in the UFC last summer in a deal worth approximately $4 billion, have fronted $500 million to start the company.
“It was, ‘We’ve sold the UFC, we’ve got some liquidity, what do we do next?