Ares Management Corporation (“Ares”) (NYSE: ARES), one of the world’s leading alternative investment managers, announced today that it has raised $ 3.7 billion of dedicated capital focused solely on investing in sports leagues, teams sports and sports-related franchises, as well as a media and entertainment company. Ares Sports, Media and Entertainment Finance (“SME” or the “Fund”), Ares’ industry-focused inaugural fund, includes total equity commitments of nearly $ 2.2 billion. Including the anticipated leverage and related transaction vehicles, the total capital available to SMEs is expected to be $ 3.7 billion. The Fund was oversubscribed from its initial $ 1.5 billion target.
Through SME, Ares uses a global flexible private capital strategy that invests across the capital structure in both debt and equity, including senior debt, junior debt, preferred stock and minority stock in target investments. To date, SME has committed capital to 19 portfolio companies, representing approximately $ 1 billion of opportunities in the sports, media and entertainment landscape, including debt and / or equity investments in Atlético de Madrid, San Diego Padres , McLaren Racing and Inter Miami CF. The Fund leverages the reach and strength of the global Ares platform, including the strong sourcing networks and insights of senior executives who have extensive experience and relevant relationships across the industry.
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