Los Angeles-based funding agency Shamrock Capital has raised $1.6 billion throughout two new funds: the Shamrock Capital Development Fund VI and Shamrock Capital Clover Fund I.
The Development VI fund will take part in fairness investments of at the very least $45 million, whereas Clover I’ll take part in investments below $45 million.
Shamrock Capital is greatest identified for shopping for the grasp rights to Taylor Swift’s first six studio albums from Ithaca Holdings in November 2020. Sources have since advised MBW that the deal value Shamrock within the area of $405 million.
In January 2023, Billboard reported that Shamrock – alongside Common Music Group – was certainly one of two patrons of Dr. Dre’s music property, with round $200 million altering fingers in whole.
Whereas Shamrock doesn’t affirm that it will likely be seeking to make acquisitions within the music business particularly by way of the brand new funds, it did say that it’ll concentrate on “buyout and later-stage progress fairness investments in center market firms” throughout its goal sectors.
Shamrock’s goal sectors embrace: media, leisure, content material, communication, sports activities, advertising, and training.
The corporate’s President, Steve Royer, additionally confirmed that it will likely be seeking to companion with firms in “numerous sub-sectors” of these goal markets, which might, after all, embrace music.
In line with Shamrock, after launching the fundraising in Q1, Development VI was shortly oversubscribed, in the end surpassing its exhausting cap of $1.25 billion, whereas Clover I additionally considerably surpassed its goal, elevating roughly $320 million inside six months.
Simply three months in the past, the Los Angeles-based agency acquired a portfolio of movie, tv, and music rights from Vine Various Investments Group – the corporate that acquired a catalog of greater than 150 songs from Grammy award-winning and multi-platinum-selling producer, songwriter, and DJ Calvin Harris in 2020.
In line with Shamrock Companion Patrick Russo, by way of the WSJ, the property acquired as a part of the Vine deal introduced Shamrock’s holdings to ‘greater than 1,000 movies and 3,000 hours of TV and nicely in extra of 20,000 musical compositions’.
The Vine deal’s worth was undisclosed. Nevertheless, citing Shamrock Companion Patrick Russo, the Wall Road Journal stated in July that it marked Shamrock’s largest-ever particular person transaction by way of its Content material Technique vertical, which was established round a decade in the past.
Shamrock’s newest fundraise arrives almost two years after the corporate raised greater than $600 million in commitments for its content material technique, by way of its Content material Fund III LP.
On the time (in February 2023), Shamrock reported that, together with the SCCF III commitments, its Content material Technique had reached $2 billion in AUM.
In line with the WSJ, the Vine portfolio transaction introduced the worth of Shamrock’s Content material Technique property to roughly $2.4 billion.
Shamrock has roughly $6.6 billion of property below administration throughout the complete agency.
“We see vital alternatives to proceed to companion with proficient administration groups in main firms throughout media, leisure, communications, and numerous sub-sectors, and can preserve our longstanding method as value-added, collaborative companions.”
Steve Royer, President, Shamrock Capital
“We imagine our newest funds, Development VI and Clover I, place us to proceed to generate compelling returns for our buyers by making excessive conviction, thematic, and differentiated investments in dynamic, growth-oriented sectors of the financial system,” stated Steve Royer, President, Companion of Shamrock Capital.
“We see vital alternatives to proceed to companion with proficient administration groups in main firms throughout media, leisure, communications, and numerous sub-sectors, and can preserve our longstanding method as value-added, collaborative companions.”
Royer added: “We’re extraordinarily grateful for the help from our present buyers, lots of whom have partnered with Shamrock over a number of funds and thru the launch of Clover I.
“Moreover, we’re trying ahead to partnering with our new buyers, whose belief and dedication have created a powerful basis upon which we are able to construct fruitful partnerships for the long run’.
In line with immediately’s (November 4) announcement from Shamrock, the brand new Funds have devoted groups of Shamrock’s senior funding professionals and “will leverage firm-wide sources and a shared pipeline to effectively supply and execute new offers”.
Clover I can be led by Companions Ryan Smiley and Sam Halls. Smiley rejoined Shamrock late final yr to co-Head Clover I. Most just lately, he served as a Common Companion and Managing Director at RLH Fairness Companions after starting his profession as an Affiliate at Shamrock.
Halls has been a member of the non-public fairness funding staff at Shamrock for almost a decade and has labored on offers beginning with Shamrock Capital Development Fund III, L.P. via the newest fund, whereas additionally serving on the Boards of varied Shamrock portfolio firms.
The Clover I staff additionally consists of Vice Presidents Sreyas Samantula and Ari Adler.
In line with Shamrock, the Funds’ restricted companions embrace a “various mixture of pension funds, endowments, foundations, household places of work, insurance coverage firms, and different monetary establishments”.
Elsewhere at Shamrock, in June 2021, the corporate closed a $1 billion progress fund referred to as Shamrock Capital Development Fund V, and a month later it raised one other $400 million for a fund to put money into leisure IP, together with music copyrights. It additionally raised $196 million to supply mortgage constructions to IP house owners.Music Enterprise Worldwide
