Shamrock Capital Advisors has announced a new $250m fund focused on acquiring or financing entertainment IP – with music publishing and master rights firmly on its shopping list.
The Entertainment IP Fund will be spent on a “diverse group of assets that have been through their initial window of release”, which may also include movies, TV productions, video games and other content types.
Shamrock says the fund is the first of its type at the company and “reflects an extension to its successful long-term strategy of providing buyout and growth capital investments in companies within the media, entertainment and communications industries”.
EIP’s limited partners comprise a mix of existing and new investors to Shamrock from pension funds, endowments and foundations, family offices and financial institutions.
“The launch of EIP reflects an exciting new chapter in our firm’s storied history and capitalizes on our deep roots and connections across the global entertainment industry,” stated Steve Royer, Partner of Shamrock.
Steve Royer, Shamrock
“Our ability to look across the industry and apply capital through our multi-fund strategies represents a unique opportunity for Shamrock to partner and transact with numerous industry constituents in many new and interesting ways.”
EIP is led by Patrick Russo (formerly a co-founder of Salter Group), who joined Shamrock as a Partner in late 2014.
In support of EIP, Shamrock also hired Jason Sklar (former Executive Director with JP Morgan’s Entertainment Industries Group) as a Managing Director, plus Andrew Landenberger (formerly with MGM) as a Vice President and Zoltan Kraus (formerly with Legendary Entertainment) as a Senior Associate.
“We have assembled a sophisticated team with extensive experience in forecasting, valuing and financing entertainment content,” expressed Patrick Russo.
“We believe our team’s deep industry knowledge and transactional experience, when combined with Shamrock’s platform, legacy and track record of successfully investing in the global media, entertainment and communications industries create a uniquely positioned investment opportunity for our investors.”
EIP is managed by Shamrock from an office in Los Angeles, California with approximately $1.8 billion of assets under management.
Shamrock’s current investments include Consilio, FanDuel, Giant Creative/Strategy, Isolation Network, Mobilitie, Questex, Recorded Books, Screenvision, Silvergate Media and Wazee Digital.Music Business Worldwide