Cordillera Dives into Sports with PTO Investment
Deal News | Mar 18, 2025 | Cordillera Investment Partners
Cordillera Investment Partners, a San Francisco-based firm specializing in unconventional investments, is set to invest hundreds of millions into the sports sector. Known for owning marinas and branching into fields such as carbon markets and tax credits, the firm focuses on assets with non-correlation to traditional investments. Co-founded by Chris Heller, Cordillera aims to allocate 20% to 40% of its $1.6 billion assets into sports, beginning with a $10 million investment in the Professional Triathletes Organisation (PTO). Founded by triathletes and Michael Moritz in 2020, PTO operates globally, aiming to raise the profile of triathlons. With previous investments from entities like Warner Bros. Discovery, PTO represents Cordillera's strategic entry into a niche yet revenue-generating sports market. The firm is avoiding mainstream sports leagues like NFL or UEFA in favor of niche formats like cricket and rugby, focusing on diversifying risks while seeking alternative asset stability amidst stock market fluctuations.
Sectors
- Private Equity
- Sports Management
- Alternative Investments
Geography
- United States – Cordillera Investment Partners is based in San Francisco, influencing its investment strategy and operations.
- United Kingdom – The Professional Triathletes Organisation, based in London, is the target of Cordillera's investment.
Industry
- Private Equity – Cordillera Investment Partners, a private equity firm, is managing investments into diverse and niche sectors, including sports.
- Sports Management – Cordillera's investment in the Professional Triathletes Organisation illustrates its strategic shift towards sports management and ownership.
- Alternative Investments – Cordillera specializes in non-traditional asset classes offering non-correlated returns compared to mainstream investment vehicles.
Financials
- $1.6 billion – The total assets managed by Cordillera Investment Partners.
- $10 million – The amount invested by Cordillera into the Professional Triathletes Organisation.
- $30 million – Total fundraising rounds tallied by S&P Global Market Intelligence for the PTO.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cordillera Investment Partners | PE Firm | Company | A San Francisco-based private equity firm specializing in unconventional investments. |
| Professional Triathletes Organisation | Target Company | Company | A London-based organization running global triathlon events, targeted by Cordillera's investment. |
| Chris Heller | Co-founder of Cordillera | Person | Co-founder of Cordillera Investment Partners, driving the firm's strategic investment shift. |
| Michael Moritz | Founder of PTO | Person | A venture capitalist billionaire, co-founder of the Professional Triathletes Organisation. |
| Warner Bros. Discovery | Investor in PTO | Company | Previous investor in the Professional Triathletes Organisation. |
| Divergent Investments | Investor in PTO | Company | A private equity and venture capital fund focused on health-tech, invested in PTO. |
| Eckuity | Investor in PTO | Company | A health-tech-focused private equity and venture capital fund with previous investments in PTO. |