Former Chicago Cubs and Boston Red Sox executive Theo Epstein is now “Executive-in-Residence” at Arctos Sports Partners, a sports investment fund.
Epstein will focus on launching new initiatives for the private equity manager, which has more than $950 million in assets under management for investing in sports business. Arctos is seeking permission to buy limited partner stakes in NBA teams. Last year, the company took a stake in Fenway Sports Group, parent of one of Epstein’s former employers.
“His experience driving organizational excellence and building winning cultures will be a priceless resource for us and our partners,” Ian Charles, Arctos managing partner, said in a statement. The Wall Street Journal first reported the news. Epstein will be involved in all Arctos investment operations, including sourcing, underwriting, diligence and new product development.
Epstein has nearly 30 years of experience in professional baseball and is best known for helping build two teams that broke two long-running title droughts—for the Red Sox in 2004 and the Cubs in 2016.
Epstein stepped down from the Cubs last fall. “Arctos has such a brilliant mission and such unique expertise that in just over a year of existence, the firm has already started to reshape the sports landscape for the better,” Epstein said in a press release.