Los Angeles-based investment firm Shamrock Capital has raised $1.6 billion in two new funds: Shamrock Capital Growth Fund VI and Shamrock Capital Clover Fund I.
Growth VI Fund will participate in equity investments At least $45 million, And I will participate in investment in Clover Below $45 million.
Shamrock Capital is best known for purchasing the master rights to Taylor Swift’s first six studio albums from Ithaca Holdings in November 2020. , the deal cost Shamrock approximately $405 million.
January 2023 advertising billboard According to reports, Clover and Universal Music Group are one of the two buyers of Dr. Dre’s music assets, with the total amount changing hands is approximately $200 million.
While Clover did not confirm that it would seek to make acquisitions specifically in the music industry through the new fund, it did say it would focus on “acquisitions and late-stage growth equity investments in middle-market companies” in its target industries.
Clover’s target industries include: Media, entertainment, content, communications, sports, marketing and education.
The company’s president, Steve Royer, also confirmed that it will seek to work with companies in “various sub-sectors” of these target markets, which of course includes music.
Growth VI Fund will participate in equity investments At least $45 million, Shamrock’s new product Clover I will participate in the investment Below $45 million.
Shamrock said Growth VI quickly became oversubscribed after launching its fundraising in the first quarter, eventually exceeding its hard cap. $1.25 billion, Clover I also exceeded its goal by a large margin, raising approx. US$320 million Within six months.
Just three months ago, the Los Angeles-based company acquired a slate of film, TV and music rights from: Vine Alternative Investment Group – Acquire more than catalog companies 150 Songs from Grammy Award-winning and multi-platinum selling producers, songwriters and DJs Calvin Harris 2020.
According to Shamrock partner Patrick Russo, through wall street journalthe assets acquired as part of the Vine deal brought Clover’s holdings to “more than 1,000 movies and 3,000 The time spent watching TV far exceeds 20,000 musical works”.
The value of the Vine deal has not been disclosed. However, to quote Shamrock partner Patrick Russo, wall street journal July said this marks Clover’s largest-ever individual deal through its vertical content strategy established about a decade ago.
Clover’s latest funding comes after more than two years of raising capital for the company. $600 million Commitment to its content strategy through its Content Fund III LP.
At the time (February 2023), Shamrock reported that its content strategy, including SCCF III commitments, had reached US$2 billion in AUM.
according to Wall Street Journal, Vine Portfolio Transaction Values Shamrock Content Strategy Assets at Approx. $2.4 billion.
“We see significant opportunities to continue working with talented management teams at leading companies in media, entertainment, communications and various sub-sectors and maintain our long-term approach as a value-added partner.”
Steve Royer, President of Clover Capital
Steve Royer said: “We believe that our newest funds, Growth VI and Clover I, will enable us to drive conviction, thematics and differentiation by investing in dynamic, growth-oriented economic sectors. diversified investments continue to create impressive returns for investors.
“We see significant opportunities to continue working with talented management teams at leading companies in media, entertainment, communications and various sub-sectors and maintain our long-term approach as a value-added partner.”
Royer added: “We are grateful for the support of our existing investors, many of whom have partnered with Shamrock through multiple funds and the launch of Clover I.
“In addition, we look forward to working with our new investors, whose trust and commitment provide us with a strong foundation for a fruitful partnership in the future.”
According to Shamrock’s announcement today (November 4), the new fund has a dedicated team of Shamrock’s senior investment professionals and “will leverage company-wide resources and shared pipelines to efficiently source and execute new transactions.”
Clover I will be led by partners Ryan Smiley and Sam Halls. Smiley rejoined Shamrock late last year as Clover I co-director.
Halls has been a member of Shamrock’s private equity investment team for nearly a decade, working on a variety of transactions from Shamrock Capital Growth Fund III, LP through its latest fund, while also serving on the boards of several Shamrock portfolio companies.
The Clover I team also includes Vice Presidents Sreyas Samantula and Ari Adler.
The fund’s limited partners include “a diverse portfolio of retirement funds, endowments, foundations, family offices, insurance companies and other financial institutions,” according to Clover.
Elsewhere at Shamrock, the firm closed a $1 billion growth fund called Shamrock Capital Growth Fund V in June 2021, and a month later raised an additional $400 million to invest in entertainment IP, including music copyright. It also raised $196 million to structure loans to intellectual property owners.
clover Approximately $6.6 billion in assets under management.global music business
