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 in opposition to a goal of $500 million.

The agency is greatest 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 concentrated 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 tendencies, modifications, and alternatives throughout the worldwide media and leisure panorama.”

The corporate has roughly $4.4 billion of belongings below administration.

“We’re actually grateful to our present and new buyers for his or her dedication to this fund and our technique total,” stated Shamrock Companion 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 monitor file of efficiently investing in these sectors stands out and uniquely positions Shamrock to capitalize on the tendencies, modifications, and alternatives throughout the worldwide media and leisure panorama.”

As with its two predecessor funds, the third fund will companion with content material creators and homeowners in concentrating 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 buildings to content material and media rights homeowners. The 

To this point, Shamrock’s commitments below its first, second, and third Content material Technique funds have reached $2 billion in belongings below administration. 

“At Shamrock, we see a compelling alternative to proceed to collaborate with the inventive neighborhood.  We’ve discovered that artists and content material homeowners 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 aims,” stated Shamrock Companion Jason Sklar.

Shamrock says the fundraising was supported by robust demand from present buyers and vital curiosity from new buyers. The buyers embody a various mixture of state, county and company pension funds, endowments, foundations, household places of work, 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 Non-public 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 personal fairness agency.

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

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

Music Enterprise Worldwide