Private equity likes the long ball. The San Francisco Giants, one of Major League Baseball’s most successful franchises, have sold about 10% of the team to the private equity group Sixth Street, Ken Belson and Lauren Hirsch are the first to report. The team will use the cash to help pay for upgrades to the franchise’s 25-year-old stadium and other facilities, as well as the Mission Rock real estate development adjacent to the ballpark. Details of the purchase, which was approved by Major League Baseball on Monday, were not disclosed. But the team was last valued at $3.8 billion by Forbes. The Giants are owned by a syndicate of 35 owners, led by Greg Johnson.
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