US Expansion: The 23 Capital growth story

Insights

Author: Jason Traub, CEO 23 Capital

Posted: 17.10.19

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October marks one year since we launched offices in New York and Los Angeles. Our expansion into the US has delivered significant results and established 23 Capital's international presence.

In a bid to meet the changing commercial needs of the sports, media and entertainment sectors in the US, 23 Capital launched new offices in Los Angeles and New York one year ago in order to develop the firm’s media and entertainment credit platform. The U.S expansion was a natural next step in the company’s evolution and has further diversified its’ business model.

Across the business, and especially with the new offices in the U.S., there has been a significant focus on developing relationships to drive commercial success for clients. Our forward-thinking, solution focused nature triumphed over the course of the past year and we have seen sponsors and partners respond accordingly. Los Angeles and New York are global hubs for the sports, music, media and entertainment industries, and 23 Capital provided finance and capital solutions that delivered.

Since opening the U.S. offices, 23 Capital has financed four major, US based transactions totalling $715 million and it has seen continued demand for 23 Capital’s creative credit structuring and capital. This success has been driven by the deep sector knowledge of 23 Capital’s US team, led by David Pogoda and Mathew Carvajal, who have key industry relationships to facilitate commercial success for stakeholders.

Over the last year, the US office, supported by our global team, have delivered
some of the largest financings in the media ecosystem including the $250 million Vice Media financing and $125 million senior financing for Kobalt Music Group, further enhancing 23 Capital’s reputation as leaders in its’ field.

23 Capital’s work within the media and entertainment industry is a key area for the business, yet comparable opportunities abound for innovative financing in sports in North America. Streaming and broadcast rights associated with sports are transforming the way consumers view content and we will continue to develop our sports offering in 2020.

After a successful first year, the next twelve months provides the opportunity to build on the relationships established in 2019. The North American market is a diverse landscape with huge potential and 23 Capital’s offering of flexible capital solutions, supported by specialist sector knowledge is the perfect proposition to realise the opportunities which lie ahead in the coming year.

Tags: Sports, Music, Entertainment, US

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