Bruce Karsh Joins Powerhouse Esports Ownership Group Axiomatic As Co-Executive ChairmanMarch 6, 2018 Via BusinessWire
LOS ANGELES ― aXiomatic Gaming today announced Bruce Karsh, Co-Founder and Co-Chairman of Oaktree Capital Management, has boarded the esports and gaming platform as investor and Co-Executive Chairman. Karsh joins a Board already brimming with sports, entertainment and investment titans. As aXiomatic’s fourth Co-Executive Chairman, he will serve alongside: Chairman and CEO of Mandalay Entertainment and Co-Owner of the NBA’s Golden State Warriors, MLB’s Los Angeles Dodgers and MLS’s Los Angeles Football Club, Peter Guber; Majority Owner and Chairman of Monumental Sports & Entertainment (which owns the NBA’s Washington Wizards, NHL’s Washington Capitals, WNBA’s Washington Mystics, and AFL’s Washington Valor and Baltimore Brigade) Ted Leonsis; and former hedge fund manager and current Owner and Chairman of NHL’s Tampa Bay Lightning, Jeff Vinik. aXiomatic is helmed by Co-Founder and CEO Bruce Stein, whose career includes an expansive range of company and brand-building successes in consumer products, entertainment and technology.
Karsh co-founded Oaktree Capital Management in 1995 and has been a guiding force in its evolution into the global alternative investment giant it is today. Headquartered in Los Angeles, the firm manages $100 billion in assets as of December 31, 2017. Karsh is also Oaktree’s Chief Investment Officer and serves as portfolio manager for the firm’s Distressed Opportunities, Value Opportunities and Multi-Strategy Credit strategies. Karsh is an Executive Board Member of the Golden State Warriors and Trustee Emeritus of Duke University, having served as Trustee from 2003 to 2015. “Bruce Karsh has been a valued friend and an enormously powerful business colleague,” said Guber. “Along with his great business acumen Bruce brings intellectual and experiential capital to aXiomatic, and we are honored to welcome his leadership role to our journey.”
“I am delighted to team up again with my Golden State Warriors’ Partner, Peter Guber, whom I consider to be a visionary in the sports and entertainment worlds. And the opportunity to become Partners with Ted Leonsis and Jeff Vinik, two other highly accomplished sports, entertainment and financial wizards, was an equally compelling consideration,” Karsh explained. “With the skillful guidance of my Partners and our Co-Founder and CEO Bruce Stein, I expect aXiomatic and Team Liquid to enjoy a fantastic future.”
With his fellow Co-Executive Chairmen, Karsh will lead the ownership group as it expands an already impressive portfolio ― which includes a controlling stake in Team Liquid, one of the most storied and respected brands in esports. The team encompasses more than 50 players competing in over one dozen gaming titles, and made history last year with a first-place, $10 million finish at The International 7 World Championships for DOTA2. Also last year Team Liquid was announced as one of the ten organizations selected to become a permanent partner of the North American League Championship Series (NA LCS), the professional league for the world’s most popular esport League of Legends. Since its initial investment into Team Liquid in early 2016, aXiomatic has harnessed the experience and expertise of its members to help Team Liquid achieve a multifold appreciation of the team’s value in just two years.
Additional investors in aXiomatic’s latest round include Vernon & Park Capital, a Chicago-based investment firm led by Jim Ginsburg. They join an unparalleled investor group including the world-famous life coach and Bestselling Author Tony Robbins; NBA Legend and business powerhouse Magic Johnson; America Online Co-founder Steve Case; and The Walt Disney Company.