KKR Said to Value Sports Investor Arctos at $1 Billion in Deal

KKR & Co. agreed to acquire Arctos Partners in a deal that would value the sports and secondaries investor at about $1 billion and keep existing management in place, according to people with knowledge of the matter.

The firms are seeking approval for the transaction from the major US professional sports leagues, the people said, asking not to be identified discussing confidential information.

The deal includes incentives for Arctos senior managers, including co-founder Ian Charles, that could boost the value closer to $1.5 billion. Under the terms of the agreement, Charles will remain head of the business and, along ...