Investment firm Guggenheim Partners, in response to a press report, said president Todd Boehly was looking into the possibility of forming his own company but added that any venture he pursued would be “harmonious” with Guggenheim’s interests.
Boehly is “looking to strike out on his own,” the New York Post reported Wednesday, citing anonymous sources. Asked for comment, the company said, “We want to make clear the N.Y. Post story contains numerous inaccuracies.”
That said, Guggenheim said, “While Mr. Boehly is exploring the possibility of owning and controlling his own company focused on acquiring and operating businesses, real estate and other investments, it is not certain how, or even if, that will happen,” a rep for Guggenheim Partners said in an emailed statement.
According to Guggenheim, if Boehly were to form his own company, “It would likely be harmonious with Guggenheim, especially since Todd’s role for some time has been strategic and transaction-oriented, rather than working in or managing any of our day-to-day businesses,” the rep said. “Beyond that, consistent with our policy, we are not commenting on the rumor or speculation in the N.Y. Post.”
Guggenheim’s holdings include the L.A. Dodgers — the MLB club acquired by Guggenheim Baseball Management in a $2.2 billion deal in 2012 — as well as Dick Clark Prods. and a group of trade publications including the Hollywood Reporter, Billboard and Adweek. The firm launched Guggenheim Digital Media in January 2013 with the intent to allocate “significant capital to acquire and invest in new-media companies and properties that would meaningfully expand its current portfolio”; but the effort failed to produce any tangible results and the head of the unit, former Yahoo CEO Ross Levinsohn, left the company last year.
Boehly has been increasing his activity with Cain Hoy Enterprises, a Greenwich, Conn.-based investment firm he founded with Henry Silverman and Jonathan Goldstein — two other former Guggenheim execs — according to the New York Post report.
Prior to joining Guggenheim in 2001, Boehly worked at Whitney & Co. and Credit Suisse First Boston.