Ares Management Corporation has raised $3.7 billion of dedicated capital focused exclusively on investing in sports leagues, sports teams and sports-related franchises, as well as media and entertainment companies.
Ares Sports, Media and Entertainment Finance (SME), Ares’ inaugural fund focused on the sector, includes total equity commitments of nearly $2.2 billion. Including anticipated leverage and related transaction vehicles, the total available capital for SME is expected to be $3.7 billion. The Fund was oversubscribed relative to its initial target of $1.5 billion.
“We have witnessed significant demand for new and original content among fans, streaming platforms and networks, and this has driven sports-related businesses to require flexible and scalable capital to help fuel this secular growth,” said Mark Affolter, partner and co-head of U.S. direct lending at Ares.
Through SME, Ares employs a global flexible private capital strategy that invests acr