Shamrock Capital Raises $600 Million for Entertainment Fund, Plans ‘To Collaborate With the Creative Community’

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Shamrock Capital Advisors has raised “over $600 million in commitments” for its Content Fund III, which, as its name suggests, is expected to scoop up “a diverse and global portfolio of content and media rights.”

Los Angeles-based Shamrock Capital, which says that it now manages $4.4 billion in assets and “invests exclusively in media, entertainment, communications, and related sectors,” just recently unveiled the sizable raise via a formal release.

Worth clarifying at the outset is that Shamrock Capital is a successor company to the overarching Shamrock Holdings, and it’s the former of the related-but-distinct entities that scooped up Taylor Swift’s complicated song rights back in Q4 2020.

Additionally, reports have suggested (but not confirmed) that Shamrock Capital itself had also acquired a portion of Dr. Dre’s catalog, in which Universal Music Group likewise has a stake.

In any event, both existing and new investors, specifically including “a diverse mix of state, county and corporate pension funds, endowments, foundations, family offices, and other financial institutions,” are said to have backed the Content Fund III.

Meanwhile, higher-ups made clear their plans to zero in on “the acquisition of premium, cash-flowing portfolios across film, television, music, video games, sports rights and other forms of content” with the $600 million at hand.

And in a statement, Shamrock Capital partner Jason Sklar emphasized his company’s perceived dealmaking suitability for growth-minded rightsholders and creators.

“At Shamrock, we see a compelling opportunity to continue to collaborate with the creative community,” said the former JPMorgan exec Sklar. “We’ve found that artists and content owners not only value our firm’s unique entertainment heritage, but they also appreciate our broader resources across media and entertainment as we identify synergistic opportunities which can further their long-term objectives.”

Shamrock’s newly confirmed (and media-focused) tranche appears to underscore that song-rights plays are poised to continue closing for the foreseeable future.

Despite rising rates, economic woes, and the sheer number of high-profile catalog sales that have already wrapped, 2023’s first month or so has delivered a steady stream of transactions.

Aside from the aforementioned deals for Dr. Dre’s body of work, the likes of Justin Bieber, TMS, Dion, and The Doors (that is, Robby Krieger as well as the estate of Ray Manzarek) have cashed in on their song rights to this point in the year.

Similarly, evidence suggests that well-entrenched buyers like Concord and Primary Wave are positioned to keep on investing in song rights, while the last two or so months have seen emerging players such as Seoul’s Beyond Music and Litmus Music (which debuted last year with $500 million to inject into IP) finalize agreements of their own.