F9 Investments

F9 Investments

F9 Investments manages the personal capital of brothers Frank and Lorenzo Fertitta III, the third-generation operators who scaled their father's Station Casinos into a locals-gaming empire before acquiring the Ultimate Fighting Championship for $2M in 2001. They sold the UFC in 2016 for approximately $4B to WME-IMG, crystallizing a fortune that remains the foundation of F9's investment firepower. The firm is based in Miami Beach, reflecting the family's long-standing Las Vegas roots while operating closer to the Eastern U.S. and Latin American corridors they now target. The office deploys capital across three primary channels: direct real estate, private credit, and opportunistic media and consumer equity. F9's real estate book centers on net-leased retail and industrial assets acquired without institutional partners — a posture that lets the Fertittas move faster than fund-bound rivals. A confirmed holding is approximately 134,000 square feet of retail space in Las Vegas. On the credit side, F9 writes senior secured loans to middle-market operators in hospitality, gaming, and consumer services, often to borrowers the brothers know through decades of casino operations. A representative transaction is a $20 million credit facility extended to a regional fitness operator in 2023 (per Bloomberg, 2023). Geographic emphasis falls on the U.S. Sun Belt and select secondary cities in Mexico and the Caribbean, where hotel and leisure borrowers struggle to attract conventional bank capital. Total deployment is undisclosed. Forbes estimates the combined Fertitta net worth at roughly $5.6 billion as of mid-2024, with the majority allocated through F9 and related family entities. The brothers maintain parallel structures: a family foundation focused on education in Nevada, and their ongoing board roles at Red Rock Resorts, the publicly traded successor to Station Casinos. In a notable move, Lorenzo Fertitta acquired a significant personal stake in a SPAC targeting sports and media assets, underscoring the family's continued appetite for controlled, personality-driven investments. F9's structural edge is its non-institutional constitution — no LPs, no redemption pressure, and no mandate drift. This permanent capital allows the office to hold credit positions through cycles that would stress a fund, and to acquire real estate with zero leverage when pricing demands patience. It is one of the few single-family offices in the U.S. that operates with a commercial bank's credit discipline but a family office's time horizon.