Latest news highlights in the private equity sector this week
In a series of significant moves, Apollo Global Management is set to invest in Atlético Madrid and Froneri International, a UK-based ice cream group, is close to securing a €3.9bn debt package.
Apollo Global Management is in advanced discussions to invest in Atlético Madrid, focusing on financing the club’s real estate and sports complex project called "Parque Metropolitano," also known as the "Ciudad del Deporte" project. This project involves developing a €800 million sport and leisure complex adjacent to Atlético Madrid's stadium.
The financing and ownership discussions are part of a broader trend of private equity firms investing in European sports infrastructure and clubs. Apollo's involvement is proposed originally as a financing arrangement for this real estate project but has evolved into acquiring a significant or majority stake in Atlético Madrid’s holding company, Atlético HoldCo, which operates the club itself.
Meanwhile, Froneri International, co-owned by PAI Partners and Nestlé, is planning a €4.4bn shareholder payout. PAI Partners is preparing to roll its 50% stake in Froneri into a continuation vehicle. The transaction for Froneri International's debt package and shareholder payout is one of the largest dividend recapitalisations in Europe this year.
CFC, a private equity-backed cyber insurance group, is also exploring strategic options. One of the options being considered is a London IPO that could value CFC at more than £5bn. The company, currently owned by EQT and Vitruvian Partners, who acquired the firm in 2021, is in early-stage discussions with advisers about its next phase of growth.
Atlético Madrid is seeking fresh capital to support its €800m "Ciudad del Deporte" project. Existing shareholders Miguel Ángel Gil, Enrique Cerezo, and Ares Management may see their holdings diluted, but not sell any shares outright. The LaLiga club has not made any decision on the strategic options public yet.
The deal with Apollo Global Management would likely be structured as a capital increase. No decision on the strategic options has been made public yet regarding Froneri International. A listing for CFC is not expected before the second half of 2026.
These developments reflect a shift in sports financing strategies and private equity involvement in soccer club ownership structures, positioning Atlético Madrid for capital infusion to fund the ambitious “Ciudad del Deporte” development, boosting the club’s infrastructure and long-term assets. Similarly, Froneri International's debt package and shareholder payout pave the way for its next phase of growth.
- Apollo Global Management's potential investment in Atlético Madrid's "Ciudad del Deporte" project is proposed to start as a financing arrangement but could result in acquiring a significant or majority stake in the club's holding company.
- The financing and ownership discussions for Atlético Madrid's much-anticipated €800m project are part of a broader trend of private equity firms investing in European sports infrastructure and clubs.
- Froneri International, following its planned €4.4bn shareholder payout and debt package, could see its ownership structure shift with PAI Partners rolling its 50% stake into a continuation vehicle, signifying a significant transition in the ice cream group's ownership.
- In the context of private equity-backed sports financing, the deal with Apollo Global Management would likely be structured as a capital increase for Atlético Madrid, providing the club with essential funding for its ambitious sports and leisure complex development while boosting its long-term assets.
