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Investing to Win and Transform

Malala Yousafzai is photographed in the stands of a ice rink stadium with the stadium visible in the background

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About Recess Capital

Recess targets outstanding private investment opportunities while seeking to advance gender equity in the sports industry.

Women's sports are an economy, a culture, a force.

They are packed arenas, record television audiences and girls who dream of becoming the woman they watched score a goal. But they are also underinvested and undervalued assets.

That's why I started Recess. It's a powerful way of working toward the future I've always believed in: one where girls and women can thrive. My years working in sports have shown me its power to change how girls see themselves and how the world sees women.

I know that investing in women’s sports is an incredible opportunity — because I’ve seen extraordinary, untapped potential in stadiums, locker rooms and on the field. Recess is committed to reshaping the industry and opening doors for the next generation of women as athletes, owners and fans.

Game on,
Malala

Malala Yousafzai is seen holding a football standing on a pitch the stadium and football memebers are seen in the background which has been slightly blurred

Our focus

Our investment focus

Targeting minority and majority stakes primarily in North America and Europe.

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Teams & Leagues

Opportunities within professional sports teams and leagues, with a particular focus on the high-growth women's sector.

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Sport Adjacent industries

Thematic focus across youth sports & enrichment, sports ecosystem enablers, and active lifestyle consumer.

Our Playbook

Our Strategic Guide

Five pillars that define how we partner, invest, and build.

01

Building a successful team

We're a supportive, value-add partner for established sports teams, leagues, and growing sports-adjacent businesses.

02

Value-add

03

Talent

04

Reach

05

Discipline

Read our playbook

Our lineup

The Recess Team

Founders, professionals, and advisors united by one thesis.

Malala Yousafzai is a Co-Founder of Recess Capital. Malala is a skilled leader, with a history of developing bold strategies and rallying a broad network of supporters. She is now focused on applying her experience in delivering against challenging missions, in activism and in business, to Recess and its prospective portfolio companies. She is a member of the Investment Committee.

Malala is a globally recognized women's rights advocate and youngest-ever Nobel Peace Prize laureate. As co-founder of Malala Fund', she has raised $200M+ and invested ~$70M into education initiatives that have reached more than 26M students. She has long advocated for women in sports, including calling on FIFA to allow the exiled Afghan women's football team to compete on the world stage.

Malala is a highly accomplished businesswoman. As founder and creative lead of the production company Extracurricular, she secured a four-year Apple TV+ partnership and produced several award-winning films. Her bestselling memoir, I Am Malala, sold 2M+ copies worldwide. Her new memoir, Finding My Way, published in October 2025, became a New York Times bestseller.

Malala earned her BA in Politics, Philosophy, and Economics from the University of Oxford.

Malala Yousafzai

Co-founder

Asser Malik is a Co-Founder of Recess Capital. Asser’s deep experience and relationships in the professional sports industry offer Recess and its investments unique insight into what it takes to compete and succeed in sports. He is a member of the Investment Committee.

Asser is a seasoned sports management professional with a strong track record in driving growth and innovation within the industry. Asser has served as General Manager of High Performance for the Pakistan Cricket Board since 2020 and became Director of Franchise Development for the Multan Sultans in 2023. He also brought the world’s largest amateur cricket league, Last Man Stands, to six cities across Pakistan. Asser maintains a broad network across the sports investing ecosystem.

Asser earned his BSc in Economics and Political Science from the Lahore University of Management Sciences.

Asser Malik

Co-founder

Kevin is the Managing Partner of Recess Capital and has been part of the firm since 2025. Kevin oversees day-to-day management of the firm and is responsible for originating, structuring, and managing investments. He is a member of the Investment Committee.

Prior to joining Recess, Kevin was a Senior Managing Director of HighPost Capital responsible for leading the buyout and late-stage growth investment team, as well as a member of the Investment Committee. While at HighPost, Kevin pursued growth-focused investment opportunities across the consumer, sports, media, and technology sectors.

Prior to joining HighPost in 2021, Kevin was a Partner of Oak Hill Capital, where he led the Consumer, Retail & Distribution group and served on the Investment Committee. Over 18 years at Oak Hill, Kevin participated in executing and managing over $2.0 billion of private equity investments. Certain of these investments received notable industry recognition, including Mergers & Acquisitions magazine's “Deal of the Year“ and Private Equity International's Operational Excellence Award. Additionally, Kevin played meaningful roles in developing Oak Hill's Operating Talent and Environmental, Social and Governance (ESG) programs.

Before joining Oak Hill in 2002, Kevin was a member of the mergers and acquisitions group at Morgan Stanley.

Kevin earned an A.B. degree, magna cum laude, from Harvard University.

Kevin Mailender

Managing Partner

Alex is a Principal at Recess Capital and has been part of the firm since 2025. Alex is responsible for sourcing, evaluating and managing investments. In addition to her investment responsibilities, Alex contributes to the growth and operations of Recess.

Prior to joining Recess Capital, Alex spent over a decade within venture capital, media, strategy and operations. She has made 20+ early stage investments into sports, consumer, media and technology companies. She was the Partner and Head of Investments at sequel—a digital family office including over 200 elite professional athletes, and before this, a Principal at Alumni Ventures, one of the leading US VC firms with $1B+ raised. Earlier in her career, Alex drove operational and commercial growth within publishing, television and music at Penguin Random House, the BBC, and BMG Music.

Alex has been a passionate and dedicated champion for gender equity in sports since childhood. Today, Alex is a competitive Tennis player and a devoted sports enthusiast.

Alex holds an MBA from Harvard Business School and a BA in Theology from the University of Oxford, where she was an Academic Scholar and Captain of the Varsity tennis team.

Alexandra Attard-Manché

Principal

Senior Advisors

Alex serves as a Senior Advisor to Recess Capital with a focus on value creation and growth strategy across the portfolio.

Previously, Alex was a Partner at McKinsey & Company, where she was a leader in their Private Capital Practice. She co-led their Impact Investing service line and ESG/Sustainability work for private equity and alternative investment clients. Her expertise includes guiding GP strategy, in particular assisting with new firm and fund launches, portfolio strategy, and the establishment of responsible investing policies, as well as leading commercial due diligence engagements on potential investment targets. Alex has helped design a number of value creation plans for PE-backed portfolio companies, from 100-day planning through to exit strategy. While at McKinsey, Alex spearheaded the creation of the industry's preeminent report on diversity in global private markets, highlighting both gaps and progress in gender equity within the private capital industry worldwide.

Prior to McKinsey, Alex gained valuable experience in the Technology and Non-Profit sectors.

In addition to Recess, Alex also currently serves as a Senior Advisor to a GP stakes firm and is a “Thinker in Residence“ for a local nonprofit in Alexandria, VA, dedicated to promoting economic development in the region.

Alex holds an MBA from the Tuck School of Business at Dartmouth College and an AB, magna cum laude, from Princeton University.

Alexandra Nee

Portfolio value creation

Anita is a Senior Advisor to Recess Capital and is a member of the Investment Committee.

Anita is a consumer investor and strategic advisor to founders and CEOs. She currently serves on the Board of Directors of Movendo Capital (family office making consumer growth equity investments), Touchland, Van Leeuwen Ice Cream and DeMellier. She is an angel investor in several consumer companies, with a focus on women founded / female centric businesses.

Previously, Anita was a Managing Director with The Carlyle Group’s flagship U.S. Buyout fund, focusing on the consumer and retail sectors. At Carlyle, Anita was actively involved with several of Carlyle’s successful consumer investments, including Dunkin’ Brands, The Nature’s Bounty Co., and PurposeBuilt Brands.

Prior to joining Carlyle in 2006, Anita was with Behrman Capital and prior to that, she was with the M&A group at Goldman Sachs.

Anita received her MBA from Harvard Business School. She graduated Phi Beta Kappa from Wellesley College with a BA in mathematics and chemistry.

Anita Balaji

Investment committee

Jeff is a Senior Advisor to Recess Capital with a focus on finance and operations.

Since retiring from Centerbridge in 2018, Jeff has been advising alternative investment managers and family investment offices in the areas of change management and new firm/fund launches. In addition, he works closely with select fintech founders that are building much needed solutions for the alternative asset management space.

Jeff joined Centerbridge at its launch in 2006 and oversaw the Firm’s accounting, tax, operations, investor services and technology functions for thirteen years. Prior to joining Centerbridge, Jeff was the Chief Financial Officer at both Silver Point Capital and Evercore Partners, where he was responsible for finance, operations and administration at each firm, from inception. Jeff began his career in the audit practice at Ernst & Young.

Jeff is also the Board Chairman of the Pediatric Brain Tumor Foundation, the nation’s leading advocate for families navigating a brain tumor diagnosis.

Jeff received a B.B.A. from the University of Michigan. He qualified in 1992 as a Certified Public Accountant in New York.

Jeffrey Gelfand

Finance and Operations

Sam is a Senior Advisor to Recess Capital with a focus on strategy, including leadership counsel, pipeline construction and connectivity building across firm and portfolio levels.

Sam is a founder of Oak Creek, a mutli-strategy investment and advisory firm co-founded with Michael Warren, a Recess Advisory Board member. Oak Creek invests in technology, healthcare, energy and consumer businesses via early/mid stage venture capital and private equity platforms, in partnership with global leaders in these fields. Sam acts as board advisor to multiple portfolio companies and co-founded an annual Founder summit with Dr Roger Ferguson to further catalyse innovation and scale in these investments.

Prior to founding Oak Creek, Sam co-founded a private family office investing in early/mid stage technology businesses, building on more than ten years of venture capital and private equity experience in portfolios in excess of $2.0 billion across frontier and emerging markets (principally in South East Asia, Pakistan, East Africa and Egypt) spanning real estate, healthcare, education, technology and consumer staples (among others).

Sam is a qualified lawyer (qualified and practiced in the corporate M&A division at Slaughter and May) and is also a Trustee of the Kora Project in Kenya, a partnership with the Kenyan Government to co-manage the third largest National Park in Kenya.

Sam holds a BA in History from St Edmund Hall, University of Oxford, graduating with a double first.

Sam Neckar

Strategy

Advisory Board

Billie Jean is a member of the Recess Advisory Board and draws on decades of leadership as a world-class athlete, sports executive and equity advocate

Named one of the “100 Most Important Americans of the 20th Century” by Life magazine, Billie Jean King is the first woman athlete to receive the Presidential Medal of Freedom and the first individual woman athlete to be awarded the Congressional Gold Medal.

She is the founder of the Women’s Sports Foundation, the Women’s Tennis Association and the Billie Jean King Foundation. She is part of the ownership groups of the Los Angeles Dodgers and Angel City FC and a member of the Advisory Board of the Professional Women’s Hockey League (PWHL).

In her legendary tennis career, Billie Jean captured 39 Grand Slam singles, doubles and mixed doubles titles, including a record 20 Wimbledon championships, and was the year-end No. 1 player in the world 6 times. She won the historic Battle of the Sexes match against Bobby Riggs in 1973. In 2020, Fed Cup, the world cup of women’s tennis, was renamed the Billie Jean King Cup, making it the first global team competition to be named after a woman.

Billie Jean has an extensive portfolio of brand partnerships and is a New York Times best-selling author.

Billie Jean King

Advisory Board Member

Darnell Strom is a member of the Recess Advisory Board, drawing on decades of experience within talent management, media, and brand partnerships to advise the firm. He is a Partner and Head of Europe at United Talent Agency (UTA), one of the world's leading global talent and entertainment companies. Based in London, he leads UTA's rapidly growing European business while representing prominent talent and brands across entertainment, media, sports, fashion, and thought leadership, including representing Malala Yousafzai for 12 years.

Prior to joining UTA, Darnell was an agent at Creative Artists Agency (CAA), where he represented some of the most influential figures in culture, including Dwyane Wade, Will Smith, Katy Perry, Trevor Noah, Vice President Joe Biden, and Gayle King. Earlier in his career, he worked at the CAA Foundation, where he guided artists, athletes, and executives in aligning their platforms with philanthropic and social impact initiatives. He has also advised Fortune 500 companies such as Google, Nike, Salesforce, and Target on talent strategy and brand partnerships.

Darnell serves as an Independent Director on the Board of Wynn Resorts. Demonstrating his long-standing leadership at the intersection of culture and public service, he has previously been appointed to President Obama's White House Entertainment Council, GQ's Gentlemen's Fund Advisory Committee, and the Paley Center Media Council.

Darnell Strom

Advisory Board Member

Liz is a member of the Recess Advisory Board and draws upon decades of experience within talent strategy.

Liz is the Chief People Officer of Elevate, an award-winning, global sports and entertainment agency founded by San Francisco 49ers and Harris/Blitzer Sports and Entertainment, with key investors including Arctos Partners. At Elevate, she drives the global people strategy and growth initiatives for the 500-person company. She concurrently serves as the Chairman of Elevate Talent, Elevate’s 70-person executive search and leadership advisory firm, with offices in New York, London, Sydney, and Milan.

With over 20 years in leadership positions within executive search and talent, Liz has partnered with the world’s most renowned sports, entertainment, and media organizations to place CEOs and build exceptional executive teams. She was recognized as a Sports Business Journal Game Changer for her dedication to women in sports; many of her searches have resulted in award-winning CEOs.

Before joining Elevate, Liz was the global head of executive and critical talent functions at Activision Blizzard, working alongside its CEO to transform recruiting and talent strategies for 13,000 employees, with an emphasis on diversity and organizational change, before its sale to Microsoft. She also established and co-led Spencer Stuart’s global sports practice, achieving threefold growth, and leading the firm’s most elite projects in global sports.

Liz holds a MA in leadership from Harvard University and is a graduate of Georgetown University, where she played Women’s Field Hockey.

Elizabeth Moulton

Advisory Board Member

Ilana is a member of the Recess Advisory Board and draws on decades of experience as a as a world-class athlete, sports executive and business leader

Ilana is the CEO of Billie Jean King Enterprises, where she leads business development and oversees strategic partnerships.

She is part of the ownership groups of the Los Angeles Dodgers and Angel City Football Club, Chair of the Board of Billie Jean King Cup Limited, a member of the Advisory Board of the Professional Women’s Hockey League and the co-founder of the Billie Jean King Foundation.

From 2001-2018, Ilana was the CEO & Commissioner of World TeamTennis, managing both the professional sports league and nationwide grassroots recreational programs.

A former world No. 1 doubles player and US Open doubles champion, Ilana is actively involved in the Women’s Sports Foundation as a member of the executive board and past WSF board chair and serves on the board of the Elton John AIDS Foundation.

A member of both the National and International Jewish Sports Hall of Fame, she was named Sports Businesswoman of the Year by the Warsaw Sports Marketing Center. Kloss, and her partner Billie Jean King, were named the most powerful out LGBTQ people in sports, on the first ever Outsports Power 100 List in 2023.

Ilana Kloss

Advisory Board Member

Michael is a member of the Recess Advisory Board. Michael draws on decades of investment expertise across government and private sector to support Recess leadership on all aspects of the platform.

Michael is a founder of Oak Creek, a mutli-strategy investment and advisory firm co-founded with Sam Neckar, a Senior Advisor of Recess. Oak Creek invests in technology, healthcare, energy and consumer businesses – where Michael has led (among other things) the foundation of Med Concepts – a specialised clinical care delivery business managed by global industry experts, and the Oak Creek technology platform drawing on his deep sector expertise in semi-conductors, chips and geopolitics.

Michael is a seasoned executive with a background in finance, policy and international business. His leadership experience includes roles in economic strategy, global investment and advising institutions on international growth strategies and economic and geopolitical issues affecting global markets. Michael co-founded the Albright Stonebridge Group with Secretary Albright, serves on Board of Directors of Brookfield Business Corporation, Ripple, CommonFund and Maximus – and was formerly a Trustee of Yale University, a member of the Yale Corporation Investment Committee and a Trustee of the District of Columbia Retirement Board (DCRB).

President Obama appointed Michael to serve as a member of the Board of Directors of the Overseas Private Investment Corporation (OPIC), the US development finance institution (now DFC) where he chaired the Audit Committee from 2010 to 2019.

Michael graduated from Yale University and Balliol College, University of Oxford, where he was a Rhodes Scholar.

Michael Warren

Advisory Board Member

Our coverage

In the press

Please note, Malala Fund is an international non-profit organization and a separate and independent entity to Recess Capital.

Malala Yousafzai to Champion Women’s Sports With ‘Recess’

Beyond Sport | 22 July 2025

Malala turns her fight for equality to women in sports

CNN | 24 June 2025

Malala Yousafzai on Power, Progress and the Fight for Girls' Education | FT Women in Business Summit

Financial Times | 17 June 2025

Malala Yousafzai to Champion Women’s Sports With ‘Recess’

Beyond Sport | 22 July 2025

Malala turns her fight for equality to women in sports

CNN | 24 June 2025

Malala Yousafzai on Power, Progress and the Fight for Girls' Education | FT Women in Business Summit

Financial Times | 17 June 2025

Malala Yousafzai: The spark. The symbol. The pragmatist

GQ | 29 May 2025

Malala Fund Highlights 30 Female Athletes Making a Difference

GQ | 21 August 2020

Malala Yousafzai: The spark. The symbol. The pragmatist

GQ | 29 May 2025

Malala Fund Highlights 30 Female Athletes Making a Difference

GQ | 21 August 2020

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