A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Last month, investment firms of the ultra wealthy went all-in on sports and played on multiple fronts. At the beginning of May, billionaire Tom Dundon's namesake family office partnered with Apollo's new sports fund to invest $225 million in Pickleball Inc ., the parent company of