Ares Plans Sports Fund for Rich Europeans Wanting to Own a Team

Ares Management Corp. is planning on expanding its sports investment offering to wealthy Europeans after debuting the strategy in the US, according to a person with knowledge of the matter.

The alternative asset manager will start a sports, media and entertainment opportunities fund catered to individuals in Europe later this year, said the person, who asked not to be identified because the matter is private. The fund will make debt and equity investments in sports leagues, teams and sports-related businesses, as well as media and entertainment companies.