NBA legend teams with Johnson

Retired basketball star Michael Jordan will enter into a joint venture with Robert L. Johnson’s private investment platform to pursue private equity and other investment activities.

RLJ Companies, an investment platform led by billionaire Robert L. Johnson, has announced that basketball legend Michael Jordan will co-invest with the firm as well as become a managing member of its sports investment platform.

RLJ, based in Bethesda, Maryland, owns the Charlotte Bobcats basketball team.

Johnson’s firm is minority-owned by The Carlyle Group and the two firms have an agreement whereby Carlyle can co-invest in RLJ deals.

In a statement, Johnson said of Jordan: “Our joint venture will allow Michael to invest in private equity, hedge funds, financial services, real estate, film production, and other business interests that my holding company. . . is pursuing.”

Johnson is the founder of Black Entertainment Television, sold to Viacom in 2000. Jordan played 13 seasons for the Chicago Bulls.