Mark Cuban-Led Sports Fund Has $450 Million in Commitments

A private equity fund focused on professional sports and led by Mark Cuban has secured $450 million in investor commitments at the first close of its flagship fund, according to people familiar with the matter.

The fund, called Harbinger Sports Partners, is eventually targeting $750 million and could expand to as much as $1 billion to accommodate investor demand, according to the people, who spoke on condition of anonymity because the details are private. An announcement could come within days.

Atlanta-based Harbinger was formed last year to acquire minority stakes in major US sports leagues. Its founders include Cuban, who ...