StanChart Offers Sports Investments for HNWIs
High net worth clients at Standard Chartered will have access to investment opportunities focused on the sports industry.
Standard Chartered has launched a fund managed by an external manager focused on sports, media and entertainment opportunities, according to a statement. The fund is available for high net worth and ultra-high net worth (UHNW) clients within its global private bank.
«The newly launched fund, managed by a leading global alternative investment manager, focuses on sports, media and entertainment opportunities, and taps into this growing interest in sports investing. Standard Chartered is one of the first banks to launch this fund across its footprint,» it said.
Investor Demand
According to the bank, the media industry has seen a growth in media contract value of 16 to 17 percent in the last 10 years, with major sports leagues globally signing record-breaking broadcasting deals. Recent high-profile sports-related transactions among leading family offices have further spurred sports investing as an alternative asset class for UHNW individuals.
Within Asia, Blue Pool Capital – the Hong Kong-based family office of Alibaba co-founder Joe Tsai and owner of NBA team Brooklyn Nets – is one such notable sports investor.
«We have observed strong growing interest from our clients in alternative asset classes such as sports investing,» said Samir Subberwal, global head, wealth solutions, deposits and mortgages, and chief client officer at Standard Chartered.
«The growing media industry is an impetus for us to act now. It is therefore timely to leverage the strong expertise of leading global fund managers to connect our high net worth clients to professionally managed solutions that provide access to hard-to-access opportunities.»
