Opening the locker room

The sports, media and entertainment sectors are a fairly new area of focus in the evergreen space. UBS, Ares Management and Alpen Partners discuss the opportunity and the risks.

For decades, the inner circles of professional sports and global media were gated communities accessible only to a legacy elite, who saw these as trophy assets. Today, those gates are swinging wide.

As traditional ownership models evolve, high-net-worth investors are finding unprecedented entry points to this new sector. It can be exciting but also challenging to get right. So how are investors thinking about these assets that can be squarely in the public eye, what are the drivers behind valuations, how can GPs create additional value and what are the unique risks of investing in the cultural zeitgeist?