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☆ Carlyle thinks it's a good time to move on sports teams, but investors should be careful
▼ + stars: | 2024-05-01 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Carlyle also sees an opportunity to take advantage of sports' greater openness to institutional capital as teams get more expensive. Advertisement"Post-COVID, no content is more important than sports content," Fund said. Successfully running a team isn't as easy as investing in oneCarlyle sees openings for outside investors in teams as their valuations soar. "As teams become more expensive, you're running out of people to buy controlling stakes in teams," Fund said. Key to the Reign deal, for example, was having the Sounders, with its deep market knowledge, as a day-to-day operator.

Persons: —, Carlyle, Ben Fund, Alex Popov, cochair David Rubenstein, We've, We're Organizations: Service, National, Soccer, Seattle, FC, Seattle Sounders, Business, Fund, Baltimore Orioles, NFL, Sounders

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Since then, private-equity firms have poured $54.6 billion into sports, according to PitchBook data. And the field of potential investors is growing with Goldman Sachs helping rich clients invest in teams, which can drive up prices. AdvertisementLeagues also restrict PE investments, with some caps on the number of teams a firm can own stakes in or the ownership share a fund can hold. Scroll down to read about the private equity firms, listed alphabetically, that have been making the biggest moves in sports in recent years.

Persons: —, Josh Harris, Rob Walton, Carlyle, Ben, Blackstone, Goldman Sachs, Harris, Blackstone Group's David Blitzer, Lauren Leichtman, Arthur Levine, Sportico, RedBird, Gerry Cardinale, There's Organizations: Service, MLB, NBA, Business, Washington, Denver Broncos, Amazon, Sports, Ben Fund, Bluestone Equity Partners, GMF, Apollo Global Management, Blackstone Group's, Levine, Capital Partners, San Diego Wave, NFL Locations: downturns

☆ Why Carlyle is making big private credit investments in Hollywood companies like New Regency and 'South Park' creators' Park County
▼ + stars: | 2023-10-19 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

The investment speaks to Carlyle's underlying thesis in this space, said the managing director, Ben Fund, who sits on the Carlyle Credit Opportunities team. "It is amazing how much people love some of this high-quality content," Fund told Insider, speaking about famous sitcoms or films from recent decades. Streamers also need unique original titles to lure subscribers, but "it's a lot more expensive and risky to create new content than it is to license content," Fund said. Finding strategies to support Hollywood through volatile timesCarlyle's big moves come as private asset managers step up their lending game in Hollywood. For Carlyle, Fund said, this creates opportunity — and he added that such companies often have "real pride" and a "real legacy" to uphold.

Persons: Carlyle, Smith, Ben Fund, Trey Parker, Matt Stone, Arnon Milchan, Yariv, Austin Butler, Jodie Comer, Michael Shannon, it's, we're, hasn't Organizations: Washington DC, New Regency, New, Carlyle Credit, Bloomberg, Hollywood, Fund, Netflix, Content Partners, ICM Partners, CAA Locations: New, Carlyle, Park County, California, Hollywood

☆ Why big investors like Carlyle and Ares are zeroing in on Hollywood and sports deals — and driving private credit in media to new highs
▼ + stars: | 2023-03-28 | by ( Rebecca Ungarino | Reed Alexander | ) www.businessinsider.com time to read: +7 min

And Ares raised $3.7 billion for a fund last fall geared specifically toward sports, media, and entertainment investments across private debt and private equity. Unlike private equity investing, where managers take stakes in companies or buy them, private credit investors lend to businesses and make money on interest payments. (Private investment firm KKR's media, entertainment, and sports portfolio includes Insider parent company Axel Springer.) Carlyle's $146 billion credit arm has also provided capital to Clair, a media tech company that specializes in live production services and audio products. The strategists said driving that uptick are private credit defaults that include so-called softer forms of default, like breaching a loan's terms and conditions, along with private credit portfolio companies having generally lower ratings and less diversified businesses.

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