Apollo Mulls Permanent Capital to Back Sports Teams, Leagues

Apollo Global Management Inc., one of the world’s largest alternative investment firms, is considering launching a permanent capital vehicle for sports finance, adding to the rush of institutional money piling into the sector.

The New York-based firm, with about $785 billion of assets under management, has been ramping up various forms of sports investment over recent years, and is now weighing building a permanent capital base to formalize the strategy, according to people with knowledge of the matter.

A spokesperson for Apollo declined to comment.

If the plan goes ahead, the new vehicle will target a range of investments, ...