BlackRock's HPS Unit in Talks to Finance CVC's Global Sports Group Expansion
BlackRock's private credit unit, HPS, is in discussions to provide a major debt financing deal to CVC Capital Partners' Global Sports Group (GSG), the investment firm that holds stakes in several major sports properties including Premiership Rugby, the top divisions of French and Spanish football, and the international volleyball tour. The talks, which are non-exclusive and also involve Ares Management, would provide hundreds of millions of pounds to support acquisitions and the expansion of GSG's portfolio.
HPS, which BlackRock acquired for about $12 billion in late 2024, could enable CVC to remain invested longer in Global Sports Group, formerly known as SportsCo, and may pave the way for a minority stake sale or a future initial public offering. GSG's chair is Marc Allera. The portfolio also includes an Indian Premier League cricket franchise, with some assets valued well over $1 billion.
CVC owns approximately 27% of Premiership Rugby, and the assets under GSG are planned to remain autonomous. The refinancing deal is being advised by Goldman Sachs, PJT Partners, and Raine Group. The private capital sector's growing interest in global sports assets has seen participation from other players including Ares Management, Silver Lake Partners, and Bridgepoint.
