Ares marshals capital and celebrities for inaugural sports and media investment fund

Ares Management Corp. ARES,
+0.91%
said on Thursday it had raised $3.7 billion in capital to invest exclusively in sports leagues and teams and sports-related franchises, as well as media and entertainment companies. The first Ares Sports, Media and Entertainment Finance (SME) fund includes nearly $2.2 billion in equity commitments. Taking into account the expected leverage and related transaction vehicles, the total capital available is expected to be $3.7 billion. The fund exceeded its initial target of $1.5 billion. Ares also revealed that the fund has already invested $1 billion in Atlético de Madrid, San Diego Padres, McLaren Racing and Inter Miami CF. Ares has also established an advisory board that includes Sportsology executive chairman Mike Forde, women’s soccer star Mia Hamm, retired NBA star Grant Hill and recording artist Lionel Richie. Ares Management shares are down 6.3% in 2022, compared to a 17.2% loss for the S&P 500 SPX,
+0.34%.

.

Leave a Comment