Singapore – Standard Chartered (“the Bank”) today announced the launch of a new alternative fund focused on sports for ultra-high-net-worth (UHNW) and high-net-worth (HNW) clients under its Global Private Bank.
With major sports leagues and teams seeking alternative capital financing options, the industry has seen a growing trend in sports investing as a new investment avenue. Recent high-profile sports-related transactions among leading family offices have further spurred sports investing as an alternative asset class for UHNW individuals looking to strengthen and diversify their portfolios.
The media industry has seen a growth in media contract value of 16 to 17 per cent in the last 10 years, with major sports leagues around the world signing record-breaking broadcasting deals. The steady revenue generating model in sports has been gaining the interest of private investors. The newly launched fund, managed by a leading global alternative investment manager, focuses on sports, media and entertainment opportunities, and taps on this growing interest in sports investing. Standard Chartered is one of the first banks to launch this fund across its footprint.
Samir Subberwal, Global Head, Wealth Solutions, Deposits and Mortgages, and Chief Client Officer, said, “We have observed strong growing interest from our clients in alternative asset classes such as sports investing. 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. As a leading international wealth manager, we are committed to continue unlocking new investment opportunities for our clients.”
Sumeet Bhambri, Global Head, Advisory and Managed Investments, Wealth Solutions, Standard Chartered, said, “Our open architecture wealth platform allows us to curate and onboard unique opportunities to meet our clients’ needs. As clients increasingly look to incorporate alternatives into their portfolios to achieve greater diversity and long-term growth, the new fund offers a professionally managed solution for our clients to access high-quality private market opportunities with institutional grade risk-management and oversight.”
Standard Chartered continues innovating and adding to its suite of wealth solutions to deliver bespoke investment opportunities for its affluent clients across key markets. In February this year, the Bank rolled out a European private credit strategy fund amid strong demand for European private credit. It also launched the Private Markets Co-Investment Club(Opens in a new window), with an exclusive partnership with Ardian, to provide UHNW clients with direct access to co-investment opportunities in the private markets.
