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National  + Finance  | 
Petco Park is home of the San Diego Padres MLB franchise

Ares Raises $3.7B for Inaugural Fund Aimed at Sports, Entertainment and Media

Alternative investment manager Ares Management Corporation said Thursday that it had 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 $1.5-billion target. 

To date, SME has committed capital to 19 portfolio companies. “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, co-head of U.S. direct lending at Ares.

Pictured: Petco Park, home of the San Diego Padres, one of the commitments of Ares SME.  Photo courtesy of Diversified.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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