Mark Patricof, the former co-head of U.S. investment bank Houlihan Lokey Inc’s technology, media and telecommunications group, will launch his own firm advising professional athletes, coaches and team executives on deals.
Patricof, who sold his merchant bank and advisory firm MESA to Houlihan Lokey in 2015, is best known for advising U.S. internet publisher Gawker Media on its sale to media group Univision Holdings Inc for $135 million in 2016.
The new firm, Patricof Co, will launch in April with four professionals, Patricof wrote in an email to contacts on Friday seen by Reuters. The firm also will be co-investing alongside its clients on deals, focused on the technology and media sectors, he said.
The private equity group of JPMorgan Asset Management is backing Patricof’s new firm, however, Patricof also is seeking additional funding from new backers, according to a source familiar with the matter who requested anonymity to discuss commercial arrangements.