Bloomberg News

Guggenheim Sees Opportunities in Spanish Construction

March 05, 2013

Guggenheim Partners LLC’s Todd Boehly, president of the $170 billion asset manager that owns a stake in the Los Angeles Dodgers, said he’s seeing opportunities in infrastructure and construction in Spain.

“We’re spending a lot of time around infrastructure and we’re building global partnerships with companies across the world, particularly right now in Europe,” Boehly said today in an interview with Erik Schatzker and Stephanie Ruhle on Bloomberg Television’s “Market Makers.” Guggenheim has looked at deals in Greece, although hasn’t found anything, he said.

Guggenheim, which is expanding into different businesses, in January hired Ross Levinsohn, former interim chief executive officer of Yahoo! Inc., to oversee a newly formed digital media unit. In addition to the $2.15 billion purchase of the Dodgers by Guggenheim Baseball Management announced in March, Guggenheim in September agreed to buy Dick Clark Productions, which produces “New Year’s Rockin’ Eve” and “The Golden Globes,” along with Mandalay Entertainment and Mosaic Media Investment Partners LLC.

Guggenheim continues to see opportunities in media, Boehly said. Since Guggenheim is a private partnership, it has the ability to invest in deals with a longer time horizon than publicly traded rivals, Boehly said.

The U.S. Securities and Exchange Commission is investigating whether junk-bond pioneer Michael Milken acted as an adviser to Guggenheim in violation of a lifetime ban from the securities industry, a person with knowledge of the matter said last week. Boehly said Milken is a “valued client” at Guggenheim who invests in its funds as a limited partner, and isn’t involved in the management of the firm.

To contact the reporter on this story: Alexis Leondis in New York at aleondis@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net


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