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Dodgers co-owner Todd Boehly looking to leave Guggenheim

By
Claire Atkinson
Published March 25, 2015, 10:45 p.m. ET

Todd Boehly

Investment banking heavy hitter and Dodgers co-owner Todd Boehly is looking to strike out on his own, The Post has learned.

Boehly — who helped pull together the complicated deal for the MLB franchise as the No. 2 executive at Guggenheim Partners — is considering leaving the investment firm and running his own shop, according to sources.

“Todd is exploring the possibility of owning his own firm, which would be focused on acquiring and owning private businesses and real estate,” said one source familiar with Boehly’s thinking.

Another source said the discussions were at an advanced stage.

“Todd is out, and they’re working on a way for him to exit,” the source said.

Boehly is also discussing the possibility of taking some of the assets he helped Guggenheim acquire as president of the Chicago-based asset management and investment firm, according to sources close to the talks.

Among those are Dick Clark Productions, which Guggenheim acquired in a $370 million deal in 2012, and trade publications that are now part of Guggenheim Media, including The Hollywood Reporter, Billboard and Adweek.

The trades, which were acquired from Nielsen for around $70 million in 2009, are said to be losing in the range of $25 million a year.

Boehly is focused on deal-making at Guggenheim and does not have a say in day-to-day management at those companies, which have their own division heads, said a source.

Boehly, who was on vacation in the Galapagos Islands when reached by The Post, declined to comment. A Guggenheim rep also declined to comment.

As the No. 2 at Guggenheim, Boehly took some big swings and is credited with pulling off the $2 billion Dodgers deal, which dwarfed the previous record paid for a US sports team.

He’s a major player in Guggenheim Baseball Management, an ownership group that also involves the private money of Guggenheim Partners CEO Mark Walters, filmmaker Peter Guber and Texas businessman Bobby Patton.

He’s also said to be one of the largest individual shareholders at Chicago-based Guggenheim Partners.

Boehly has been ramping up his outside activities for another company, Cain Hoy, a private investment firm based in Greenwich, Conn.

Cain Hoy was founded by three executives: Boehly, Henry Silverman and Jonathan Goldstein, both former Guggenheim executives, according to its website.

Cain Hoy is also the name of a plantation in Charleston, South Carolina, once owned by Harry Frank Guggenheim.

Boehly through Cain Hoy had pursued a bid for English soccer team Tottenham Hotspur in the fall, although is was unclear who was financing the deal, which never came to fruition.

Guggenheim is fine with executives having their own non-conflicting businesses, said one person, and took a stake in Cain Hoy when it launched in September 2014.

Cain Hoy said at the time it planned to “acquire a portfolio in real estate and entertainment, media and retail,” according to a press release.