Firms, funds, people, portfolio companies and transactions from sworn filings and cited announcements, kept as a graph with a date and a source on every edge. Reported gross assets are never fund size, regulatory AUM is never dry powder, and a deal value prints only when someone disclosed it.

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Firms / D•••••• E••••• P••••••• M••••••••• L••

D•••••• E••••• P••••••• M••••••••• L••

Buyout firmLower middle marketNew York, NYd•••••••••SEC registered investment adviser

Co-founded and led by Jonathan Nelson and K. Don Cornwell, we acquire minority interests in sports franchises and related assets.

Classification
Class
Buyout firmconfirmed, confidence 85%
Basis
R6: 6 of 6 distinct vehicles are sworn Private Equity Funds; 5 reported gross assets on a filing in 2022 or later
Size band
Lower middle marketdefined by: proxy: $0.69bn Private Equity Fund GAV on the Form ADV filed 2024-08-14
Classification history (1)
  1. Sep 13, 2026
    Buyout firm (confirmed, 85%, cls-pe-1)
    R6: 6 of 6 distinct vehicles are sworn Private Equity Funds; 5 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
Adviser type
registered investment adviser
Form ADV filings
Dec 4, 2023 to Aug 14, 2024
RAUM
$344Mregulatory assets under management of the adviser; not dry powder, not a fund size
PE funds, latest filing
10
PE fund GAV, latest filing
$687Mreported gross assets (Form ADV), not fund size
All private fund GAV
$687Mevery private fund type, latest filing
2024 PE fund GAV
$472Msum over funds typed Private Equity Fund with a 2024 or later as-of date
PE share of funds, lifetime
100%
Fund type mix
filed 2024-08-14, latest gav Private Equity Fund $687M, latest counts Private Equity Fund 10, lifetime distinct Private Equity Fund 6
Employees
15
Headquarters
New York, NY
Office address
280 PARK AVENUE, FL 15, New York, NY, 10017
Business phone
212-970-9850
Stated criteria beside observed behaviour
3 observed deals
Stated by the firm
Sectors
franchising
Geography
Global
Revenue
not stated or not yet read
EBITDA
not stated or not yet read
Enterprise value
not stated or not yet read
Equity check
not stated or not yet read
Control
not stated or not yet read
Thesis
We partner with sports-enabled operating businesses, franchises, leagues, and adjacent assets to help them grow
Observed from deals on record
roles
unknown 3
period
to 2025-01-01, from 2023-01-01, undated holdings 0, dated observations 3
window
last unknown, first unknown
control
unknown 3
companies
3
geography
investments
3
seller kinds
transactions
0
cadence by year
platform add on
add ons 0, platforms 0, add ons per platform unknown
sector known for
0
disclosed value usd
n 0
sector distribution
holding period years
n 1, median 3.2
repeat counterparties
subsector distribution

3 companies on the graph (0 transactions); median observed hold 3.2 years (n=1); observed 2023 to 2025

Funds
6 on record
FundVehicleVintageReported gross assets (Form ADV), not fund sizeGAV by yearForm D soldLifecycle
D•••••• E••••• •••• L•
ADV: Private Equity Fund
buyout or unlabelled2024
first reported on Form ADV
$211M
as of Aug 14, 2024
no Form DUnknown
D•••••• E••••• L•
ADV: Private Equity Fund
buyout or unlabelled2024
first reported on Form ADV
$83.0M
as of Aug 14, 2024
no Form DUnknown
D•••••• E••••• •••• L••
ADV: Private Equity Fund
buyout or unlabelled2024
first reported on Form ADV
$34.6M
as of Aug 14, 2024
no Form DUnknown
D•••••• E••••• •••• L••
ADV: Private Equity Fund
buyout or unlabelled2024
first reported on Form ADV
$15.1M
as of Aug 14, 2024
no Form DUnknown
D•••••• E••••• •• L•
ADV: Private Equity Fund
buyout or unlabelled2024
first reported on Form ADV
$0
as of Aug 14, 2024
no Form DUnknown
D• I••••••••• F••••• A••••••••• L••
ADV: Private Equity Fund
buyout or unlabelledunknown$128M
as of Jan 5, 2024
no Form DUnknown
Team
21 current, 0 former
Business development (1)
Platform (6)
Other (8)
Portfolio
3 relationships, 0 platforms, 0 add-ons
CompanyRoleStatusInvestedHeldPartnerSource
U•••••••• S•••••Role unknownunknownJan 1, 2025
year stated on the firm's page
1.7 yearsunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
T••• S•••••Role unknownunknownJan 1, 2024
year stated on the firm's page
2.7 yearsunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
L•••••••• F•••Role unknownexited
exited Mar 30, 2026
Jan 1, 2023
year stated on the firm's page
3.2 yearsunknownFact Investment organization websites (team, portfolio, strategy, criteria, news)
Transactions
1 on record
DateTypeTargetThis firm’s roleSource
Mar 30, 2026Exit to a strategic buyerL•••••••• F•••Seller (confirmed)dynastyequity.com
Placement agents, lenders, advisers and co-investors
3 relationships
Placement agents (3)
  • J••••• P••• T•••• C•••••• L•• 2 shared · recurring · last Jan 1, 2024
  • M•••••• C•••••• S•••••••• L•• 2 shared · recurring · last Jan 1, 2024
  • J••• M••••• S••••••••• L•• 1 shared · one time · last Jan 1, 2024
LP commitments
0 disclosed
No LP commitment collected yet. An LP edge needs a public disclosure with a quote, such as a pension plan’s report or an announcement naming the LP.
Events
7 most recent
  1. Aug 20, 2026
    D•••••• E••••• P••••••• M••••••••• L••: Private Equity Funds on Form ADV 10 (2024 extract) -> 4 (roster 2026-09-01)
    Pe fund count changedFactSEC Form ADV monthly roster (registered + exempt reporting advisers)
  2. Mar 30, 2026
    Fenway S••••• Group Announces Strategic Minority Investment in L•••••••• F••• from D•••••• E•••••
    ExitFactL•••••••• F•••Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
  3. Mar 30, 2026
    D•••••• to Partner with Carlyle to Pursue NFL Investment Opportunities
    Firm newsFactInvestment organization websites (team, portfolio, strategy, criteria, news)
  4. Mar 30, 2026
    D•••••• E••••• Invests in U•••••••• S•••••
    Firm newsFactInvestment organization websites (team, portfolio, strategy, criteria, news)
  5. Mar 30, 2026
    T••• S••••• Completes Series A Investment Round, Co-Led by D•••••• E•••••
    Firm newsFactInvestment organization websites (team, portfolio, strategy, criteria, news)
  6. Mar 30, 2026
    Fenway S••••• Group Announces Strategic Minority Investment in L•••••••• F••• from D•••••• E•••••
    Firm newsFactInvestment organization websites (team, portfolio, strategy, criteria, news)
  7. Dec 4, 2023
    D•••••• E••••• P••••••• M••••••••• L•• first filed Form ADV in the extract (ERA)
    First Form ADV filingFactSEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Across the graphs

D•••••• E••••• P••••••• M••••••••• L•• is the same institution as 2 records in Independent Sponsors and RIA and Wealth.

Independent Sponsors1RIA and Wealth1

Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.

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