Los Angeles-based investment firm Shamrock Capital has raised $1.6 billion through two new funds: Shamrock Capital Growth Fund VI and Shamrock Capital Clover Fund I.
The Growth VI fund engages in equity investments. at least $45 million; Clover will participate in investment Less than $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. Sources later told MBW that the deal cost Shamrock $405 million.
January 2023, billboard With Universal Music Group, Shamrock produced Dr. He was one of two buyers of Dre’s music assets in a deal reportedly worth a total of $200 million.
Shamrock did not confirm whether it would specifically seek music industry acquisitions through the new fund, but said it would focus on “acquisitions and late-stage growth equity investments in middle-market companies” across targeted sectors. .
Shamrock’s target segments include: Media, entertainment, content, communications, sports, marketing and education.
Steve Royer, the company’s president, also confirmed that it will partner with companies in “a variety of subsegments” of its target market (which, of course, could include music).
According to Shamrock, after beginning fundraising in the first quarter, Growth VI quickly became oversubscribed and ultimately exceeded its hard cap. $1.25 billion; Clover I also greatly exceeded its target by approx. $320 million Within 6 months.
Just three months ago, the Los Angeles-based company acquired a portfolio of film, TV and music rights. Vine Alternative Investment Group – Companies that have acquired the above catalog 150 Songs from the Grammy Award-winning, multi-platinum-selling producer, songwriter, and DJ. Calvin Harris In 2020.
According to Shamrock partner Patrick Russo: that W.S.J.Due to the assets acquired as part of the Vine transaction, Shamrock’s holdings are: 1,000 movie and 3,000 Watch hours of TV 20,000 ‘Music Composition’.
The value of the Vine deal was not disclosed. But to quote Shamrock partner Patrick Russo: wall street journal said in july The content strategy practice, founded nearly a decade ago, marks Shamrock’s largest individual transaction ever.
Shamrock’s latest fundraising comes nearly two years after the company raised more than $1 million. 600 million dollars Through our commitment to our content strategy Content Fund III LP.
At that time (February 2023) Shamrock reported Content strategy, including SCCF III commitments 2 billion dollars At AUM.
According to W.S.J., With the Vine portfolio transaction, Shamrock’s content strategy assets will be worth approx. 2.4 billion dollars.
shamrock Across the company, we manage approximately $6.6 billion in assets.
“We see significant opportunities to continue collaborating with talented executives from leading companies across media, entertainment, communications and a variety of subsectors, and will maintain our long-standing approach as a value-added collaborative partner.”
Steve Royer, President, Shamrock Capital
“We believe our newest funds, Growth VI and Clover I, will continue to provide investors with high-conviction, thematic and differentiated investments in dynamic, growth-oriented economic sectors,” said Steve Royer. “We believe we are in a position to generate attractive returns.” President, Partner, Shamrock Capital.
“We see significant opportunities to continue collaborating with talented executives from leading companies across media, entertainment, communications and a variety of subsectors, and will maintain our long-standing approach as a value-added collaborative partner.”
Royer added: “We are very grateful for the support of our existing investors. Many of them have partnered with Shamrock across multiple funds and the launch of Clover I.
“We also look forward to partnering with a new investor whose trust and commitment will lay a strong foundation on which we can build a fruitful partnership for the future.”
According to Shamrock’s announcement today (November 4), the new fund will have a dedicated team of Shamrock’s senior investment professionals and “will leverage resources and shared pipelines across the firm to efficiently source and execute new deals.” It is said.
Clover I will be led by partners Ryan Smiley and Sam Halls. Smiley rejoined Shamrock late last year to serve as co-head of Clover I. Most recently, he served as General Partner and Managing Director at RLH Equity Partners, after beginning his career as an Associate at Shamrock.
Halls has been a member of Shamrock’s private equity investment team for nearly a decade, executing a variety of transactions ranging from Shamrock Capital Growth Fund III, LP to its newest fund, while also serving on the boards of various Shamrock portfolio companies.
The Clover I team also includes Vice President Sreyas Samantula and Ari Adler.
According to Shamrock, the Funds’ limited partners include “a diverse mix of pension funds, endowments, foundations, family offices, insurance companies and other financial institutions.”
Elsewhere in June 2021, Shamrock closed a $1 billion growth fund called Shamrock Capital Growth Fund V, and a month later raised another $400 million for a fund to invest in entertainment IP, including music rights. . It also raised $196 million to provide lending structures to IP owners.worldwide music business
