Los Angeles-based Brett Johnson and his twin brother, Grant, set up their family office in 2005 under the umbrella of their firm, Benevolent Capital. Before starting Benevolent Capital, Johnson was president of the computing solutions company Targus, where he was actively involved in the sale of the business to a private equity firm. Johnson is passionate about sports as an alternative asset class.
How do you and your brother divide your roles at Benevolent Capital?
It’s a multiasset fund. We set up SPVs [special purpose vehicles] for everything spanning venture capital, private equity, professional soccer and real estate. Grant does the heavy lift on venture capital and private equity, and I do sports and real estate.
Why soccer?
When I worked at Targus, I had the opportunity to move to London and run all the international business. That gave me a front-row seat to soccer being the global religion.
A decade ago in Phoenix, I co-founded the United Soccer League (USL), which is second division. From that success, I was part of an ownership group that acquired a prominent club in England called Ipswich Town, which is currently in second place in the Championship League.
Sports franchises aren’t for the faint of heart, but increasingly, family offices are looking to sports as an alternative asset class. It’s a great way to get into the most popular sport in the world, especially in the lead-up to the World Cup coming to the U.S. in 2026.
What’s driving family office interest in sports?
Professional sports is becoming more democratized. There are more ways to invest in it than before, and soccer is rapidly increasing in popularity among Americans. Being involved with a sports franchise with your family gives investors a tangibility that other investments don’t. I've been blessed with teams that have done well, but I treat them as businesses. That said, as an investor, it's exciting to sit at a game or stream it in your living room.
Historically, it wasn't so easy to invest. Increasingly, there are opportunities in what I'll call emerging leagues, the USL among them. You need to put a very, very good dose of due diligence into these because many are losing money.
What’s your approach to sports teams as assets?
I'm obsessed with creating sustainability with sports enterprises, which comes via multiple revenue streams — sponsorships; merchandise; sports betting; rights to players; buying and selling, which is an $8 billion market; and real estate development. When I look at a market, one of the most important things is whether there’s a real estate development opportunity, because it’s an added driver of returns on the overall platform.
The USL is becoming a development league for young players because they get better-quality minutes in front of bigger crowds than anywhere else. So we sign talented young players, give them a season or two to perform and then look to sell them to bigger and better clubs. That's a substantial line item that goes right to the bottom line. We expect that to be a seven-figure-plus driver every single year in terms of revenue.
What investment are you most excited about right now?
We’re launching a new team and building a stadium in Rhode Island, which will be state-of-the-art with 11,000 seats initially. We're also going to launch a women's team. The stadium will be soccer-specific, with capacity to host other rectangle sports like American football, rugby and concerts. It’s a perfect-size venue for New England — which really only has Gillette Stadium, where the [National Football League's New England] Patriots play, which is too big for events; or smaller university stadiums, which are generally not well-located.
The economic impact of the project is staggering. It's a private-public partnership that’s completely transforming prime riverfront real estate that was very polluted. There will be substantial housing surrounding the stadium, and it will be an area where people want to work, live and play when it’s finished in the next five to 10 years.
Cultivating your family’s philanthropic identity

By BROOK KRAMER
The act of giving can extend far beyond mere donations. It can be a journey defining a philanthropic identity that endures well beyond your years.
For many, philanthropy that transcends one-off gestures and instead shows a commitment to investing in values-aligned causes is the goal. In the wake of recent global events, the significance of this philanthropic journey — and those interested in joining it — has surged.
Philanthropy often unfolds in stages, from initial gifts to strategic investments to ultimately becoming a catalyst for change. However, amid this landscape, it’s easy to lose direction and resort to haphazard giving. With 1.54 million charitable organizations in the U.S., the “how” and “why” behind giving are as vital as the “where.”
Three key steps for creating a meaningful legacy and impact
In this constantly shifting and challenging world, there are ways to elevate the meaning of giving — aligning assets with values and the strategic intent to create a lasting impact. Below are three ways to think about building a philanthropic identity for you and your family.
1. Discover, disseminate and document donor intent
The true essence of philanthropy is a desire to drive positive change in the world. But lacking a clear donor intent often results in what is called “peanut butter philanthropy,” which is essentially spreading resources thinly without a focused strategy. When approached for contributions, individuals without a defined intent might end up writing numerous checks, which might not achieve the change they want to see in the world.
Understanding the why behind your philanthropic endeavors is crucial to developing a meaningful philanthropic identity. Your intent, often rooted in your core values and passions, delineates the causes that resonate most profoundly with you — and why. In 2022, charitable dollars predominantly went to the following sectors: religion (27%), human services (14%), education (13%), grant-making foundations (11%) and health (10%).
Establishing donor intent empowers you to articulate your family’s specific focus and gracefully decline solicitations for contributions that don’t align with your philanthropic vision. For example, you are asked to support the local hospital, yet your focus is education. Now, your response to decline the hospital’s request for funding is grounded in choosing to focus on your philanthropic priority of education and not health care. This will likely be seen as a strategic decision by the hospital, and it will build your philanthropic identity in the community.
Overlooking donor intent often leads to the misalignment of charitable vehicles with perpetuity structures that don’t honor the family’s original intent. Many family foundations lack clear guidance, resulting in funds being distributed in ways that might not align with the grantor’s desires.
The process of solidifying donor intent involves work within private foundations and donor-advised funds:
- Discovering what grantors value most and determining the change these grantors want to see in the world.
- Creating a mission or a theory-of-change statement for the philanthropic vehicle(s).
- Tracking and monitoring alignment, impact and outcomes over time.
2. Create a grant-making strategy
Establishing a profound philanthropic identity requires formulating a long-term grant-making strategy. It involves meticulously determining the geographical scope and specific demographics of recipients aligned with your intended cause. This entails conducting rigorous due diligence and establishing measurable parameters to evaluate and track tangible outcomes.
Two distinctive approaches shape the grant-making process:
Open application vs. purposeful selection: The traditional method often involves nonprofits submitting their mission and vision for evaluation, allowing donors to determine the worthiness of the organizations. An alternative approach entails actively seeking out organizations that align with your philanthropic vision. Doing so can help donors avoid drowning in countless grant requests. This method involves conducting comprehensive due diligence once potential organizations are identified.
Leveraging partnerships for insight: Collaborating with community foundations and knowledgeable partners can provide donors invaluable insights, since these entities have intricate knowledge about prevalent issues and the impactful work being done. Engaging with them can streamline the due diligence process and provide a deeper understanding of where your contributions might create the most meaningful change.
Finally, monitoring the impact of your contributions is equally vital. An ongoing evaluation process allows you to assess how the money is being used, note progress achieved and identify existing gaps, allowing for adaptations to maximize impact.
3. Foster a learning mindset
Developing a robust philanthropic identity requires an insatiable curiosity and an openness to continual learning. Asking pertinent questions and maintaining an inquisitive stance are instrumental in shaping a philanthropic approach consistently aligned with your values and objectives.
Essential questions to drive this learning mindset include probing into the root causes of issues: Why does a particular problem persist? What barriers impede progress toward a solution? Where do interventions yield tangible impact?
Also, posing critical questions such as “Why isn’t this working?” or “What can be done differently?” fuels innovation in philanthropy. In addition to a learning-oriented mindset, this also requires continually reassessing and probing the unexplored territories of societal challenges.
Ultimately, philanthropy involves making strategic investments where traditional avenues fall short. Embracing this role requires a proactive stance, asking the pivotal question: “If not me, then who?” And if the mantle is taken up, a deeper exploration ensues: “What type of investment should be made?” Maintaining curiosity about societal issues fuels the learning and giving journey.
Leaving a legacy
Philanthropy shapes the legacy we leave — one of generosity and impact. Research shows that when parents give, their children are more likely to follow suit. It’s not just about the resources we share; it’s about nurturing values and making a lasting difference.
Philanthropic legacy isn’t confined to just families; it extends to communities and individuals, creating enduring change. Beyond today’s contributions, it’s about leaving a mark that resonates throughout generations.