Apollo, Ares to Open Professional Sports Investments to Retail Clients
Some of the leading alternative investment managers, like Apollo and Ares Management, are working on new funds that would open the exclusive world of sports investing to individual investors. Ares' top chief Michael Arougheti reportedly said financial advisors had specifically requested the new strategies for their clients. It's the latest move to democratize investments in sports, while opening up a whole new segment of lucrative customers to alternative asset managers.
READ ALSO: Bonsai With Clients? Here Are Advisors' Favorite Pastimes and M&A Just Broke More Records. But What Happens to Clients?
Neck and Neck
Ares became the undisputed heavyweight in the sports sector after it raised a $3.7 billion fund in 2022. Its next venture will target both debt and equity investments across sports leagues and media businesses in a semi-liquid fund that pays out quarterly, according to a Bloomberg report published last week. The Los Angeles-based firm has its sights on some $100 billion in assets from individual investors by 2028, which it said could generate an estimated $600 million in management fees.
Not to be outdone, Apollo wants to build a 'permanent capital vehicle' that would eye up longer-term investments in the industry. That strategy would primarily focus on loans to professional sports teams and leagues, with the option to take equity positions, per the report.
The funds come on the heels of a groundbreaking decision by the National Football League to allow private equity firms to take minority stakes in individual franchises last year — a rule that paved the way for owners to raise fresh capital. About a third of all teams in both Major League Baseball and the National Basketball Association are already backed by PE.
The Home Stretch. It could become big business for the alts industry. Alternative assets are expected to top $2.5 trillion by the end of 2028, according to a 2024 report from Cerulli. The research also found:
Advisors owned roughly $1.4 trillion in less-than-fully-liquid alternative investment assets last year.
While just 13% of AUM is from the retail channel, it's projected to almost double to 23% over the next three years.
The downside is that the funds will likely only be accessible to accredited investors — those who generally meet $1 million in investable assets minimums, or other income thresholds — and can sometimes come with minimums in the millions of dollars, experts said. Space will also be limited until more products launch, with similar funds closing in about a month. Get 'em while they're hot.
This post first appeared on The Daily Upside. To receive financial advisor news, market insights, and practice management essentials, subscribe to our free Advisor Upside newsletter.
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