Standard Chartered, a global bank, has launched a new fund that allows high net worth individuals (HNWIs) and ultra-high net worth individuals (UHNWIs) to invest in the sports industry. The fund, managed by an external manager, focuses on sports, media, and entertainment opportunities, tapping into the growing interest in sports investing. This move makes Standard Chartered one of the first banks to offer such a fund across its global footprint.
The demand for sports investing is fueled by the rapid growth of the media industry, with major sports leagues globally signing record-breaking broadcasting deals. Recent high-profile sports-related transactions among leading family offices have also sparked interest in sports investing as an alternative asset class for UHNWIs. For example, Blue Pool Capital, the Hong Kong-based family office of Alibaba co-founder Joe Tsai and owner of the NBA team Brooklyn Nets, is a notable sports investor.
According to Samir Subberwal, global head of wealth solutions, deposits, and mortgages, and chief client officer at Standard Chartered, “We have observed strong growing interest from our clients in alternative asset classes such as sports investing.” He notes that the growing media industry is an impetus for the bank to act, and that it is timely to leverage the expertise of leading global fund managers to connect HNWIs and UHNWIs to professionally managed solutions that provide access to hard-to-access opportunities.
The new fund is available to high net worth clients within Standard Chartered’s global private bank. This move is expected to attract a range of investors, including HNWIs and UHNWIs who are looking for new and exciting investment opportunities in the sports industry.