The golf star is teaming up with the investment firm TPG on a new sports-related fund.

Fresh off finally securing a career grand slam with a thrilling win at the Masters, Rory McIlroy, the world’s second-ranked golfer, is rounding out another corner of his life: investing.

Mr. McIlroy’s investment firm, Symphony Ventures, is teaming up with the private equity firm TPG to start TPG Sports, an investment fund that will place bets on businesses across the sports industry.

Mr. McIlroy started Symphony Ventures with his business partner, Sean O’Flaherty, in 2019. Both men will serve as operating partners for TPG Sports.

“We were talking about what’s the next step for us,” Mr. McIlroy said in an interview. “The timing was right.”

Mr. McIlroy’s increasing immersion in business is not uncommon among golf’s greats; Tiger Woods, Greg Norman and Jack Nicklaus have all built big business portfolios around golf and beyond. But his partnership with

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