Apollo Global Management LLC announced on Monday the launch of a sports-focused business unit, Apollo Sports Capital, which will invest in sports and live events.
The platform will primarily invest in credit and hybrid value opportunities across sports franchises, sports leagues, venues, media and other opportunities, “providing patient capital and adding strategic value” to the sector.
The new unit will be led by Al Tylis as CEO. Rob Givone and Lee Solomon, both partners in Apollo, have been named co-portfolio managers, while Sam Porter, a senior adviser to Apollo and former chief strategy officer of soccer team D.C. United, will be the chief strategy officer.
“Having owned or invested in many teams and leagues over the years, I know firsthand how valuable Apollo Sports Capital will be to the market,” Tylis said in a statement. “We bring patient capital, extensive networks, and a range of solutions that go beyond the typical equity-only strategies.”
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Tylis, who previously served as president and CEO of NorthStar Asset Management, has made numerous sports investments, including in Mexican soccer team Club Necaxa as owner and chairman; Colombian soccer team La Equidad; and the Brooklyn Pickleball Team, according to a statement from Apollo. He sits on the board of G2 Esports, the United Pickleball Association and Canvas Property Group.
“With Apollo Sports Capital, we’ve set out to build the preeminent investment company in the growing world of sports,” said Apollo Global Management Co-President John Zito in a statement. “Our aim is to create durable, long-term value not only for investors but also for fans, teams and communities.”
Apollo Sports Capital plans to build on the firm’s established sports presence—the alternative investment giant has deployed $17 billion in the sports ecosystem so far. Previous reports placed the new platform at around $5 billion. Apollo managed $840 billion in assets total, as of June 30.
The firm’s sports and entertainment-related investments to date include an 80-million-pound ($107.47 million) senior loan to refinance the debut of English soccer team Nottingham Forest, the $6.3 billion take-private of gambling and sports betting company IGT Gaming, and a pending, reported stake in Spanish soccer team Atlético Madrid.
Apollo is one of many alternative investors launching sports investing platforms to gain a foothold in the sector. Ares Management, which launched a dedicated sports fund in 2022, was reported in July to be launching a sports fund for retail investors.
TPG launched in May a sports investing platform alongside golf pro Rory McIlroy and Abu-Dhabi based alternative manager Lunate. Arctos Partners, Sixth Street and CVC Capital Partners are among the other large alternative investors in sports.
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Tags: Apollo Global Management, sports
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