Sidley Advises Ariel Investments in Its First Close of Project Level

Sidley advised Ariel Investments in connection with Project Level, which raised US$250 million in committed capital a year after the platform’s launch, creating one of the largest dedicated pools of institutional capital focused on opportunities across women’s sports, including teams, leagues, and sports-adjacent businesses.

The platform completed its first close with a robust investment pipeline and anchored its portfolio through investments in Denver Summit, the National Women’s Soccer League’s sixteenth expansion team, and League One Volleyball, a rapidly growing women’s volleyball organization. Project Level was launched to capitalize on the accelerating growth, increasing viewership, and expanding commercial opportunities across women’s sports.

The Sidley funds team was led by Elizabeth Shea Fries and Ellen Murphy (Investment Funds) and included Patrick Michel, Jean Wenjing Liang, Leda Morochina, Shelley Azizi, Becca Flynn, Meegan E. Mayer, Gaelle Pierre-Louis, Shameer Riaz, and paralegal Christeen M. Milmo (Investment Funds); Noam M. Waltuch, Jonathan M. Westreich, and Christian D. Barraza (Tax); and Christian E. Pilhofer (Employee Benefits and Executive Compensation). The sports investment team was led by Charles H. Baker, Eric H. Geffner and Luisa Lizoain (Entertainment, Sports & Media), Melissa I. Schneider, and paralegal Zach Garmisa (M&A and Private Equity).

Click here to read more about Sidley’s work with Ariel Investments.