Shamrock Capital, the private equity firm best known for buying music assets and entire companies, is about to become a lender, too, after closing on a fund near $200 million to loan money to intellectual property owners across music, film, TV, games and sports, the company announced this week.
The inaugural Shamrock Capital Debt Opportunities Fund raised $196 million from both existing and new limited partners and will be managed by Shamrock partners and other investment professionals in Los Angeles that include pension funds, foundations and financial institutions, according to the press release.
Shamrock made news in 2020 for buying Taylor Swift’s Big Machine catalog from Scooter Braun’s Ithaca Holdings, which controversially acquired the master recordings through its purchase of Big Machine in 2019. The company, which has about $3.8 billion of total assets under management, typically buys and invests in music assets such as Stargate’s publishing catalog, trade publication AdWeek and fantasy sports platform FanDuel. But Shamrock views its Debt Opportunities Fund “as a natural extension” of its acquisition business that will “provide optionality and flexibility to content owners,” said Patrick Russo, a Shamrock partner, in a statement.