Want to support your football league? StanChart unlocks sports investing
Standard Chartered has announced the launch of a new alternative fund focused on sports for ultra-high-net-worth (UHNW) and high-net-worth (HNW) clients under its Global Private Bank.
With major sports leagues and teams seeking alternative capital financing options, the industry has seen a growing trend in sports investing as a new allocation option. Recent high-profile sports-related transactions among leading family offices have further spurred sports investing as an alternative asset class for UHNW individuals looking to strengthen and diversify their portfolios, according to the news release on Monday.
Sports investing on the rise
According to the bank, the media industry has seen a growth in media contract value of 16% to 17% in the last 10 years, with major sports leagues around the world signing record-breaking broadcasting deals.
"The steady revenue-generating model in sports has been gaining the interest of private investors. The newly launched fund, managed by a leading global alternative investment manager, focuses on sports, media and entertainment opportunities, and taps on this growing interest in sports investings," the news release noted.
Samir Subberwal, global head for wealth solutions, deposits and mortgages, and chief client officer, said: “We have observed strong growing interest from our clients in alternative asset classes such as sports investing. The growing media industry is an impetus for us to act now. It is therefore timely to leverage the strong expertise of leading global fund managers to connect our high-net-worth clients to professionally managed solutions that provide access to hard-to-access opportunities.”
Expanding the alts offering
Standard Chartered continues adding to its alternatives wealth solutions for its clients across key markets.
In February this year, the bank rolled out a European private credit strategy fund in response to demand. It also launched the private markets Co-Investment Club, with an exclusive partnership with independent private equity investment company Ardian, to provide UHNW clients with direct access to co-investment opportunities in private markets.