New Mountain invests in Legends Hospitality

New Mountain Capital LLC has invested in Legends Hospitality LLC. Financial terms weren’t announced. New Mountain will own a minority of Legends, while the deal values the company at $700 million, according to press reports. With offices in New York and Los Angeles, Legends is a stadium management company that provides services to facilities including Yankee Stadium, AT&T Stadium, nearly 40 Live Nation venues and One World Observatory. The New York Yankees and Dallas Cowboys reportedly own a majority of Legends.

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