Here’s an interesting article from Sports Business Journal, which highlights Patricof Co’s new farmland investment strategy for its athlete clients. Approximately two dozen athletes, including Blake Griffin (Boston Celtics) and Joe Burrow (Cincinnati Bengals), have committed to invest in 5 farms across the United States. Patricof Co recently closed on its first farmland investment, which involved a $5 million acquisition of a 104-acre farm in northern Iowa. Unlike private equity investments with expected exit windows of 5-7 years, Patricof Co’s farmland strategy is a long-term play, with investments anticipated to span multiple decades in some cases.
Patricof Co launched in 2018 and is based out of New York. According to the article, it has nearly 200 athlete clients and has completed more than $125 million in private equity investments. The firm recently held an “investor boot camp” with Bain Capital in Boston. The event offered Patricof Co’s athlete clients the opportunity to network with Bain Capital’s leadership as well as local founders, executives, and private equity groups.