McCourt JV Partners Launch Investment Platform

Frank McCourt Jr. is founder and CEO of McCourt LP.

NEW YORK CITY—McCourt LP founder Frank McCourt Jr. and Guggenheim Partners CEO Mark Walter have launched McCourt Partners, a private investment platform with over $1 billion in permanent capita, according to McCourt Global, the business arm of McCourt LPl. It represents an evolution of the joint venture of the same name, which initially focused on real estate development.

Launched in 2012 subsequent to McCourt’s $2.2-billion sale of the Los Angeles Dodgers franchise to an investment group led by Walter, McCourt Partners in its original iteration venture made significant investments in development projects totaling more than 5.5 million square feet. Among these was the 2013 acquisition of a development parcel at 360 Tenth Ave. on Manhattan’s West Side for $167.5 million.