New York City-based alternative investments specialist CAIS announced Friday through its RIA CAIS Advisors that a registration statement for a new CAIS Sports, Media and Entertainment Fund was declared effective. The fund is expected to commence operations on or around Jan. 2.
Registered under the Investment Company Act of 1940, the fund will provide access to teams in five major sports leagues, as well as media and entertainment assets including film, music and other live events for accredited investors, CAIS said. The sports leagues include the NBA, NHL, MLS, MLB and professional American football.
It will be the first sports, media and entertainment fund to be managed by CAIS Advisors, the firm’s RIA.
The fund’s investment minimums will be set “as low as” $25,000 and it will offer “the potential for” semi-annual liquidity, according to CAIS.
“Sports, media, and entertainment are part of the broader attention economy, tilting the portfolio towards where consumers choose to spend their time and focus,” Neil Blundell, Chief Investment Officer at CAIS Advisors and Head of Investments at CAIS, said in a news release.
He added, “We anticipate an initial portfolio will collectively provide exposure to 30+ sports franchises, film and television assets, music catalogs, live event properties, and other investments.”
CAIS Advisors will oversee portfolio management for the fund, with Blundell and Sarah Jiang as Co-Portfolio Managers, the firm said.
The fund plans to make commitments to both new and existing fund interests, via primary investments, secondary investments and co-investments, the firm said.
CAIS Advisors selected Arctos and Eldridge to serve as core independent managers for the fund.
“We have selected Arctos and Eldridge as core independent managers for their established track records, deep sector expertise, and ability to identify distinctive opportunities, which align with our commitment to delivering innovative investment solutions,” according to Matt Brown, Founder and CEO of CAIS.
“We believe the Fund will be well positioned to provide accredited investors the opportunity to participate in industries that have historically been difficult to access, yet influence culture in significant ways,” he said.
Other alternative investments launched recently by the firm included the Solactive CAIS Private Credit BDC Index (CAISCRED) with index provider Solactive, announced in August; new model portfolios developed by BlackRock, Carlyle, Franklin Templeton and KKR, announced in June, and the CAIS Models Marketplace, which it said in March was designed to streamline access to alternative investment model portfolios.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
