Apollo to launch $5bn sports investment vehicle for stakes and lending - FT
Investing.com - Apollo Global Management is planning to launch a $5bn sports investment vehicle to deepen its exposure to the sector, which is attracting increasing funding from major private capital groups, FT reports.
The New York-based firm, which manages more than $800bn in assets, has been accelerating its investments in sports in recent years, with stakes in Premier League football clubs and horseracing ventures.
The new vehicle will mark Apollo’s first allocation of permanent capital to the sports sector, according to The Financial Times, citing people familiar with the matter. The firm plans to make new hires to lead this strategy.
The investment approach will focus on lending to sports leagues and teams, as well as acquiring stakes in clubs, positioning Apollo in the fast-growing area of sports finance.
Apollo joins several major private capital groups expanding into sports finance, a sector reportedly underserved by mainstream lenders, where private capital firms can deploy funds quickly, often securing high yields in return.
Apollo stock is 1.4% lower in Tuesday trade, as of 10:45 ET.
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