Portugal’s Football Stadiums Lure €500 Million BTG-Backed Fund

Fortitude Capital’s Antonio Esteves is planning to invest in football stadiums in Portugal, as the country’s clubs join an accelerating trend in Europe of revamping their homegrounds to boost revenue.

A former Goldman Sachs Group Inc. partner who co-founded Fortitude Capital in 2022, Esteves said his firm is looking to invest alongside other lenders to finance stadium upgrades planned by the country’s top three football teams — Benfica, FC Porto and Sporting CP. The Lisbon-based private equity firm has raised almost €500 million ($586 million) and is backed by Brazilian investment bank BTG Pactual and Atrium Portfolio Managers.

Click here to read article