Adviser to LeBron, Schwarzenegger Gets $1.1 Billion for Deals

Main Street Advisors has helped assemble everything from Beats by Dre to Lobos Tequila. Now, the California firm has raised $1.1 billion to make even more celebrity-heavy deals.

Born 25 years ago out of founder Paul Wachter’s work advising Arnold Schwarzenegger, Main Street has grown to counsel everyone from LeBron James to Bono to Billie Eilish on how to leverage their success in sports and the arts to build business empires. With the new fund raised from some of those same stars as well as institutional investors, it’s aiming for a larger role in those transactions.

Companies with ...