KNIGHTHEAD CAPITAL MANAGEMENT, LLC JOINS ELECTRIC PICKLE AS STRATEGIC PARTNER

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Aug 16, 2023, 09:00 ET

Electric Pickle has broken ground in Las Vegas, NV and Tempe, AZ and will expand into several other key cities nationwide in 2023 and 2024 including Roseville CA, Katy TX, Rancho Cucamonga CA, and additional locations soon to be announced

NEW YORK, Aug. 16, 2023 /PRNewswire/ -- Knighthead Capital Management, LLC ("Knighthead") announced today that through certain of their managed entities, they have joined the highly anticipated pickleball-themed entertainment complex founded by Paul Frederick, Guillermo Mascarenas and Eduardo Gomez, owners of Carolo Corporation and Eureka! Restaurant Group, as a strategic partner. Electric Pickle has broken ground in Las Vegas, NV and Tempe, AZ and will expand into several other key cities nationwide in 2023 and 2024 including Roseville CA, Katy TX, Rancho Cucamonga CA, and additional locations soon to be announced.

(PRNewsfoto/Knighthead Capital Management, LLC)

Pickleball is the fastest growing sport in the U.S. and players are consistently faced with having too little access to courts. Each Electric Pickle location will have 10 courts and full-service private cabanas for players to relax in between games in a luxurious and refined environment. In addition to pickleball, guests will be able to take advantage of outdoor TVs and fireplaces, bocce, and a 10,000 square foot restaurant with lavish Tulum-inspired decor. Whether you are on or off the court, Electric Pickle fosters a lavish environment to socialize with family and friends, with an upscale food and beverage program curated by the same founders that operate the Eureka! Restaurant Group.

Carolo Corporation and Eureka! Restaurant Group operate multiple concepts throughout the US and Mexico; the trio of founders are fusing their culinary expertise with their love of pickleball to elevate the game for players around the US.

"Knighthead Capital Management, LLC and the Electric Pickle team share the same values and passion to provide everyone with an electrifying pickleball experience," said Paul Frederick. "This new one-of-a-kind entertainment complex will inspire guests to socially connect outdoors with the popularity of pickleball as the driving catalyst.

This is not Knighthead's first foray into the world's fastest growing sport. Recently it was announced that an affiliate of Knighthead joined forces with seven-time Super Bowl champion Tom Brady and Tennis Hall of Famer Kim Clijsters to purchase an expansion team for the 2023 Major League Pickleball season.

"Pickleball is an incredibly social game, and we are thrilled to unify those who play the sport through the opening of Electric Pickle complexes in key regions throughout the United States," said Tom Wagner, Co-Founder of Knighthead Capital Management LLC.

Set against a backdrop of beautiful, highly-conceptualized lush landscapes, Electric Pickle provides the ultimate five-star resort experience for 'Picklers' and non-playing guests alike. Hospitality is at the forefront of the Electric Pickle experience and the team is looking forward to welcoming guests in Spring 2024.

About Knighthead Capital Management, LLC
Knighthead Capital Management, LLC ("Knighthead") was co-founded in 2008 by Ara Cohen and Tom Wagner and currently has approximately $10.3 billion of assets under management. Knighthead is an event driven and deep value focused, SEC registered, investment advisor that specializes in investing in companies that need financial and operational restructuring. Knighthead has worked to create a diversified platform with an experienced team of investment professionals, specializing in credit analysis, sourcing, trading and restructuring. Knighthead's long-term objective is to generate attractive risk-adjusted returns for its clients while emphasizing the preservation of capital. Knighthead manages assets across a variety of investment vehicles including a long/short evergreen hedge fund, a number of closed-end credit vehicles, a dedicated real estate lending business and a sizable insurance asset management business.

About Eureka! Restaurant Group and Carolo Corporation
Eureka! Restaurant Group owns and operates 30 restaurants (six more in development) across three innovative brands: Eureka!, La Popular CDMX, and The Amalfi Llama (opening soon in Miami, FL and San Diego, CA). Grupo Carolo is a multi-unit operator of fashionable upscale restaurants (24) throughout Mexico City. Such notable restaurant brands include Blanco Colima, Blanco Castelar, and Farina to name a few.

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SOURCE Knighthead Capital Management, LLC