Los Angeles-based funding firm Shamrock Capital has raised greater than $600 million in commitments for its third fairness fund for content material technique, exceeding its laborious cap towards a goal of $500 million.

The agency is finest identified for shopping for the grasp rights to Taylor Swift’s first six studio albums from Massive Machine in November 2020 for north of $300 million.

Shamrock says that its Content material Fund III LP is targeted on snapping up a various and international portfolio of content material and media rights. The corporate says it is going to use the funds “to capitalize on the traits, modifications, and alternatives throughout the worldwide media and leisure panorama.”

The corporate has roughly $4.4 billion of property beneath administration.

“We’re actually grateful to our current and new buyers for his or her dedication to this fund and our technique general,” mentioned Shamrock Accomplice Patrick Russo.

“The closing of SCCF III continues to construct on our multi-product platform and long-term technique of proudly owning and financing premium content material and media rights.”

Patrick Russo, Shamrock Capital

“The closing of SCCF III continues to construct on our multi-product platform and long-term technique of proudly owning and financing premium content material and media rights. Our observe document of efficiently investing in these sectors stands out and uniquely positions Shamrock to capitalize on the traits, modifications, and alternatives throughout the worldwide media and leisure panorama.”

As with its two predecessor funds, the third fund will accomplice with content material creators and house owners in focusing on the acquisition of premium, cash-flowing portfolios throughout movie, tv, music, video video games, sports activities rights and different types of content material.

Shamrock launched its first Content material Fund in 2020 to originate mortgage constructions to content material and media rights house owners. The 

So far, Shamrock’s commitments beneath its first, second, and third Content material Technique funds have reached $2 billion in property beneath administration. 

“At Shamrock, we see a compelling alternative to proceed to collaborate with the inventive group.  We’ve discovered that artists and content material house owners not solely worth our agency’s distinctive leisure heritage, however additionally they recognize our broader sources throughout media and leisure as we determine synergistic alternatives which may additional their long-term goals,” mentioned Shamrock Accomplice Jason Sklar.

Shamrock says the fundraising was supported by robust demand from current buyers and important curiosity from new buyers. The buyers embody a various mixture of state, county and company pension funds, endowments, foundations, household workplaces, and different monetary establishments.

The most recent fundraising follows Shamrock’s sale of a “passive minority fairness curiosity” within the firm to RidgeLake Companions, a strategic partnership between Ottawa Avenue Personal Capital and Apogem Capital, and Bonaccord Capital Companions.

Shamrock was based in 1978 because the household funding firm for the late Roy E. Disney and has since transitioned into an institutionally backed non-public fairness agency.

In June 2021, the corporate closed a $1 billion progress fund known as Shamrock Capital Progress Fund V, and a month later it raised one other $400 million in a brand new fund that can spend money on leisure IP, together with music copyrights. It additionally raised $196 million to supply mortgage constructions to IP house owners.

Most lately in January, Billboard reported that Shamrock is among the many consumers of Dr. Dre’s music property.

Music Enterprise Worldwide