The IPL's business value climbed to $18.5bn last year, according to Houlihan Lokey. While still smaller in absolute terms than the NFL at $227bn and the NBA at $165bn, the IPL now ranks second globally on a per-match basis after the NFL. Crucially for investors, media rights have more than doubled to over $6bn in the latest auction cycle, with Disney and Reliance committing $6.2bn for broadcast and streaming rights through 2027. The move marks a further step in Ares' broader expansion into private wealth. The firm oversees approximately $623bn and currently manages around $66bn in products for wealthy investors. It aims to increase that figure to $125bn over the next two years. The vehicle secured commitments from pensions, endowments, family offices, and sovereign wealth funds. Global private equity fundraising fell 11% in 2025 to $490.81bn, marking the second consecutive year of decline. Chief executive Rich Lawson said: 'You had all these geopolitical tensions, and you had this...
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