Sports’ Saturday: Top sports news in private equity

Sports' Saturday: Top sports news in private equity

India’s Indian Premier League has emerged as a serious private equity target, with global firms including KKR, Blackstone, Partners Group, and CVC Capital circling franchise stakes as valuations surge to record levels, according to a report by Reuters.

The IPL’s business value climbed to $18.5bn last year, according to Houlihan Lokey. While still smaller in absolute terms than the NFL at $227bn and the NBA at $165bn, the IPL now ranks second globally on a per-match basis after the NFL. Crucially for investors, media rights have more than doubled to over $6bn in the latest auction cycle, with Disney and Reliance committing $6.2bn for broadcast and streaming rights through 2027.

Ares Management is preparing to expand its sports investment strategy into Europe with a new sports, media, and entertainment opportunities fund targeting wealthy individuals, according to Bloomberg sources.

The vehicle, expected to launch later this year, will provide debt and equity financing to sports leagues, teams, sports-related businesses, and media companies.

The move marks a further step in Ares’ broader expansion into private wealth. The firm oversees approximately $623bn and currently manages around $66bn in products for wealthy investors. It aims to increase that figure to $125bn over the next two years.

HGGC has raised $3.2bn for its fifth flagship fund, surpassing both its $2.5bn target and $2.8bn hard cap despite a muted global fundraising backdrop, according to a report by Bloomberg.

The vehicle secured commitments from pensions, endowments, family offices, and sovereign wealth funds. Global private equity fundraising fell 11% in 2025 to $490.81bn, marking the second consecutive year of decline.

Chief executive Rich Lawson said: “You had all these geopolitical tensions, and you had this flight to quality with private equity. The opportunity set for many investors has shifted to what we call mid-cap or middle-market businesses.”