US private equity group Silver Lake has increased its stake in the parent company of Manchester City Football Club, making it the second-largest shareholder in the business behind its Abu Dhabi owners.
The Silicon Valley-based firm acquired a 4.1 per cent share in City Football Group from China Media Capital, taking its total holding to 14.5 per cent.
Silver Lake, which made a name for itself as a tech investor, has been stepping up its bets on the sports industry, with investments ranging from football and rugby to baseball. This latest deal strengthens its ties to Abu Dhabi’s royal family and Sheikh Mansour bin Zayed Al Nahyan, the billionaire royal who acquired Manchester City in 2008 and established CFG five years later.
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