Advising Ariel Investments on the first close of Project Level

Ariel Investments in connection with Project Level has completed its first close with $250m in committed capital. Project Level was launched a year ago to capitalise on the accelerating growth, increasing viewership and expanding commercial opportunities across women’s sports. 

The platform's launch and fundraising creates one of the largest dedicated pools of institutional capital focused on opportunities across women’s sports, including teams, leagues and sports-adjacent businesses. The first close completed with a robust investment pipeline, anchored 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 organisation.

Our Investment Funds team acted as Cayman Islands counsel to Ariel Investments. The team was led by Cayman Islands partners Prasana and Jenna Wong, with assistance from senior counsel Ryan Everett and associate Ashani Francis-Collins, based in the Cayman Islands office.

Congratulations to Ariel Investments and the Sidley Austin LLP team who acted as United States counsel.  It was a pleasure assisting with this transaction and working with the Sidley funds team once again.