Industry pension giant Hostplus has signalled it will commit far more of its $160 billion under management to sports after realising a rapid, fourfold return on its investment in an Indian Premier League cricket team.
Chief executive David Elia told the Sport NXT summit in Melbourne on Monday his fund quadrupled its $7 million investment in the Rajasthan Royals and secured an exit in just 18 months with the team’s $US1.65 billion ($2.3 billion) sale to an Indian businessman via its exposure to private equity firm Siguler Guff.
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