Alternative asset managers Apollo Global Management and Ares Management are deepening their push into the global sports ecosystem, as investor appetite for long-term exposure to professional leagues and franchises continues to accelerate, according to a report by Bloomberg.
Ares is preparing to launch a new media and entertainment-focused vehicle designed for individual investors, in a move that signals growing retail demand for access to the sports asset class. The semi-liquid fund will target a mix of equity and debt opportunities across teams, leagues, and associated businesses.
In parallel, Apollo is exploring the creation of a dedicated permanent capital vehicle for sports finance, which would enable the firm to originate longer-term loans and selectively take equity stakes in professional franchises. The strategy aims to provide flexible capital to teams and leagues, particularly in need of liquidity or growth funding.
The shift comes as the global sports industry opens up to institutional investors. The National Football League’s decision in 2023 to allow private equity firms to take ownership stakes in teams has catalysed activity, drawing major players such as Arctos Partners, CVC Capital Partners, and Ares into high-profile deals.
Los Angeles-based Ares has already deployed capital into teams including the NFL’s Miami Dolphins, and closed its inaugural sports-focused fund in 2022 at $3.7bn. The firm is targeting $100bn in assets from individual investors by 2028, up from roughly 8% of its current $546bn AUM. The new sports fund is expected to contribute up to $600m in management fees.
Apollo, meanwhile, has been active through existing capital pools, providing financing to European football clubs such as Sporting Lisbon and Nottingham Forest. The New York-based manager views the broader sports, media, and entertainment ecosystem as significantly undercapitalised, with Ares estimating the total addressable market in adjacent sectors at up to $2.5tn.
