NBA legend's equity firm takes stake in Centerplate

By Ben Klayman

CHICAGO (Reuters) - Basketball legend David Robinson has conquered the sports landscape, collecting professional and college player of the year awards, two Olympic gold medals, two NBA titles and earning recognition as one of the greatest players ever.

Now the former San Antonio Spurs center is playing for gold of a different kind.

Robinson formed private equity firm Admiral Capital Group last year with a former Goldman Sachs executive, and this week they made their first investment, buying an undisclosed stake in food service company Centerplate.

Robinson, 43, and his partner, Daniel Bassichis, will look to invest in companies that offer a strong financial return as well as making a social impact.

"You have a tremendous opportunity to go out and make some money for your clients, but at the same time you also have a tremendous opportunity to impact those communities that you invest in," Robinson said in a telephone interview.

"I always saw basketball as great opportunity to have some fun and make some money, but it's also a place where you have a tremendous opportunity to impact communities," he added. "I don't see this business any different."

A portion of all Admiral Capital profits will support philanthropic causes, including the development of the Carver Academy, an inner-city San Antonio elementary school to which Robinson has contributed more than $10 million.

Admiral Capital does not disclose financial targets, but private equity firms traditionally target annual returns of about 20 percent. Reaching that goal has been tough recently.