Apollo, Ares to Open Professional Sports Investments to Retail Clients
Only the richest investors can afford to place big bets on professional sports teams that generally come with billion-dollar price tags. Don’t look now, but retail investors may have just found a bookie.
Some of the leading alternative investment managers, like Apollo and Ares Management, are working on new funds that would open the exclusive world of sports investing to individual investors. Ares’ top chief Michael Arougheti reportedly said financial advisors had specifically requested the new strategies for their clients. It’s the latest move to democratize investments in sports, while opening up a whole new segment of lucrative customers to alternative asset managers.
Neck and Neck
Ares became the undisputed…
