24.8 C
Monday, March 27, 2023

Bluestone Equity Partners Launched by Bobby Sharma – The Hollywood Reporter

Bluestone Equity Partners Launched by Bobby Sharma – The Hollywood Reporter

Earlier IMG Executive Bobby Sharma is founding Bluestone Equity Partners, a private equity firm focused on the global sports, media and entertainment industries.

The company announced Wednesday that it raised $300 million in its first round of growth equity to focus on established businesses and proven assets in the space. Sharma leads the company alongside former Inner Circle Sports executive Kyle Charters.

Sharma previously served as Global Head of Basketball and Strategic Initiatives at IMG, General Counsel for the NBA Development League, helping to establish the NBA’s first minor league, and Vice Chairman and CEO of Soccerex.

“We are proud to launch Bluestone Equity Partners and our first growth equity fund to capitalize, guide and grow high-quality assets in the sports, media and entertainment industries,” Sharma said.

“Bluestone’s investment philosophy is to partner with exceptional management teams, boards and investors who we believe can achieve extraordinary results. We have a clear strategy to invest in, develop and scale businesses and assets through a proven model that will Benefit from the advantages of our expertise and relationships in the sports, media and entertainment industry,” Charters said.

Sharma and Charters are also joined by Walker Brumskine, who will become head of the firm after working at Apollo Global Management, and Jack Ross, who will join as an associate after working at Blackstone.

It is at least the second private equity firm targeting entertainment to announce the closing of a funding round this month. Shamrock Capital, a Los Angeles-based firm focused on media, entertainment and communications, announced on Feb. 1 the closure of its third equity fund, exceeding its $600 million hard cap.

Source link

Related Articles

Julia Fox responds to Emily Ratajkowski dating Harry Styles rumors

Julia Fox is living the Single Girl...

Entertaining: Bangladeshi students share their culture at fundraiser (3/26/23)

Freshman multimedia journalism major Elizabeth Hamby was the first to attend the event. She has done henna art on herself before, but it...

Government promises ‘meaningful and lasting improvements’ to music streaming

The government said it was committed to making "meaningful and lasting improvements" in response to a report on music streaming published by the...

‘Yellowjackets’: The Biggest Questions and Answers Following the Season 2 Premiere

Warning: Spoilers for Yellowjackets seasons 1-2. Do not read if you have not watched the season 2 premiere, "Friends, Romans, Countrymen," written by...

HYBE to sell stake in SM Entertainment for $435 million

The three giants of the South Korean music industry, HYBE, Kakao Corp and SM Entertainment, have been embroiled in a weeks-long corporate battle...

Latest Articles