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.