Tennis superstar Novak Djokovic has taken on a new role as a global strategic advisor to private equity firm General Atlantic. This development comes just days before Djokovic is set to compete at Wimbledon, where he is eyeing a 25th Grand Slam title.
The partnership makes sense, given Djokovic's existing investments in wellness companies such as Waterdrop and his own supplement company, SILA. General Atlantic hopes to tap into Djokovic's network to gain further exposure to the health and wellness sector, an area that is increasingly attracting private equity investment.
General Atlantic has been expanding its presence in the sports industry, taking stakes in a football club, a sports stadium, and a sports media agency over the past two years. The firm's CEO has stated that Djokovic has 'strong views about how professional tennis can be reshaped', suggesting opportunities for growth in the sector.
This development is significant, as private equity firms are increasingly entering the world of sports investing. General Atlantic's move into tennis is just the latest example of this trend.