Standard Chartered has introduced a new fund focused on the sports investment sector, directed at its ultra-high-net-worth (UHNW) and high-net-worth (HNW) clients through its Global Private Bank. As sports leagues and teams seek alternative financing routes, the bank sees a growing trend in sports investing as an appealing option for UHNW individuals to bolster their portfolios.
According to the bank, the media industry's growth, marked by a 16 to 17 percent rise in media contract value over the past decade and significant broadcasting deals, makes the sports sector attractive to private investors. The new fund aims to capitalize on this burgeoning interest and is managed by a leading global alternative investment manager, focusing on sports, media, and entertainment.
Samir Subberwal, representing Standard Chartered, stated, “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, also from Standard Chartered, remarked, “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.”
The company continues to develop and expand its wealth solutions, as evidenced by the introduction of a European private credit strategy fund and a Private Markets Co-Investment Club earlier this year. These initiatives illustrate the bank's commitment to providing exclusive investment opportunities for affluent clients in key markets.