NBA Owners Blitzer, Plotkin Bet on Menswear Brand Rhone

Billionaire Blackstone Inc. executive David Blitzer, former hedge fund manager Gabe Plotkin and ex-football star Tim Tebow are among a group of investors betting on Rhone, a men’s apparel brand.

They are part of a consortium that acquired a roughly 29% stake owned by private equity firm L Catterton, Rhone chief executive officer and co-founder Nate Checkettstold Bloomberg News. The transaction, which closed in July 2022, hasn’t previously been reported. Terms weren’t disclosed.

Plotkin, who led a group that bought Michael Jordan’s majority stake in the NBA’s Charlotte Hornets earlier this year, backed Rhone through his ...