CVC Capital Partners has secured approximately €3.7bn, about $4bn, in financing for its sports investment platform Global Sport Group, according to the FT.

The financing package includes about €1.4bn from KKR, funded through insurer Global Atlantic. Around €1bn of this commitment will be structured as preferred equity, which sits between traditional debt and common equity. 

Bain’s Pimco will provide approximately €1.5bn of debt financing, while additional lenders are contributing smaller amounts. As part of the transaction, KKR may also invest up to €200m in equity for a roughly 6% stake in the platform.

The financing values Global Sport Group at about €7bn, underscoring the scale of CVC’s sports investment strategy.

CVC established Global Sport Group last year to consolidate its portfolio of sports investments. The platform includes stakes in several major competitions, including La Liga, Premiership Rugby, and the Six Nations Championship.

The private equity firm has invested roughly €4.6bn in these assets since 2018. These include a €2.1bn investment in La Liga, €1.5bn in France’s football league commercial arm, and nearly £700m across three rugby competitions.

The new financing structure is designed to lower funding costs and support further investment in the sports sector, while offering investors exposure to diversified revenue streams across multiple leagues and competitions.

Private capital has increasingly moved into sports investments in recent years. Firms such as Ares Management and Apollo Global Management have also deployed capital in the sector as investors seek assets that are resilient and less correlated with broader economic cycles.

CVC was an early investor in sports and previously generated significant returns from its ownership of Formula 1, which it sold for more than $8bn in 2015.

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