Ares reveals investments of $1bn in sports, media and entertainment
The alternative investment manager says the Covid-19 pandemic has accelerated such opportunities
Ares Management Corporation has announced it has committed more than $1bn of investments over the last six months in the sports, media and entertainment sector.
The alternative investment manager highlighted the recent deals it has struck with various companies across the globe, including motor racing team McLaren Racing, and Spanish football club Atletico Madrid.
Other completed transactions in sports-related properties include transactions with National Hockey League club Ottawa Senators, and Major League Baseball club San Diego Padres.
“We believe the strong secular demand for content in the sports, media and entertainment sector is driving the need for flexible capital,” said Mark Affolter, partner and co-head of US Direct Lending at Ares (pictured).
“We believe that one common theme across these investments is that the Covid-19 pandemic has accelerated an existing trend where companies in these markets are increasingly more open to innovative and institutional solutions. We expect this trend will continue.”
The Professional Fighters League, Rugby Australia, Rawlings, and Meadowlark Media were also highlighted in Ares’ recent transactions in the sports, media and entertainment sector.
Jim Miller, Partner and Co-Head of US Direct Lending at Ares, commented: “Ares provides scalable capital solutions and invests across both debt and equity in the sports, media and entertainment sector.
“In the past, sports franchises, leagues and clubs borrowed through traditional bank facilities, but there is now a growing need for more flexible capital to meet the needs for expansion. Ares seeks to use its significant capital base to provide innovative capital solutions to fulfil the sector’s growing funding gap.”
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