You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Celtics CEO starts investment fund

Boston Celtics chief executive and co-owner Wyc Grousbeck is raising a $125 million fund called Causeway Media Partners to invest in sports media, such as the rights to broadcast live games.

Grousbeck and two partners had raised $74 million as of last week. Grousbeck was formerly a partner at Highland Capital Partners in Cambridge and is joined in the new effort by Bob Higgins, a Highland founder. A third executive involved in Causeway, Mark Wan of Three Arch Partners, is also a minority investor in the Celtics.

Continue reading below

Higgins, who teaches at Harvard Business School, remains an adviser to Highland, and Wan remains an adviser to his firm.

Grousbeck will split his time between the Celtics and the new fund.

“We love sports content, and we think it is primed to grow,’’ Grousbeck said in an interview. “We are well connected and well capitalized and ready to make investments.”

The fund’s formation was first reported by Dow Jones LBO Wire. The Globe had reported in 2008 that Grousbeck and Wan were looking to launch a fund to buy sports teams. But the new concept for the fund is based on sports media.

Beth Healy can be reached at bhealy@globe.com.
Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.