The Sacramento Kings recently had minority interests in the franchise sold at a valuation of $1.8 billion.

Arctos Sports Partners and Dyal Capital each bought stakes in the Kings. Arctos acquired 17 percent of the franchise in aggregate while Dyal upped its stake from less than five percent to between five and 10 percent.

The limited partnership stakes in the Kings sat on the market for a considerable amount of time before the two investment firms stepped in.

The NBA opened up equity stakes in franchises to investment firms in order to bring growth capital and liquidity. It had become more difficult for limited partners to exit. 

Arctos previously bought into the Golden State Warriors in May. Dyal also owns a stake in the Phoenix Suns.