Meet 13 private equity investors betting big on Hollywood and backing hits from ‘Knives Out’ to ‘Mare of Easttown.’

• Private equity investors are playing a larger role in showbiz as it recovers from the pandemic.
• Investments in media and telecom hit new heights during the first half of 2021, PwC research shows.
• From Apollo to Zelnick, these 13 private equity players are betting billions on Hollywood.
• See more stories on Insider’s business page.

The money never stops churning in Hollywood and entertainment, and private equity investors are now playing a bigger role in showbiz than ever as the industry recovers from pandemic shutdowns and production and deal-making rev up.

“Theatricals were hit really hard, but there were a lot of success stories and transformations that occurred during the pandemic, and some of the private equities are trying to be opportunistic,” said Bart Spiegel, media and telecom deals leader at PwC.

Private equity investment in the media and telecom sector soared to new highs during the first half of 2021, according to PwC research, accounting for more than 170 deals and around $54.8 billion of deal value so far this year.

Among the highest-drama moves, Silver Lake unloaded its stake in AMC Entertainment Holdings in January for $713 million, capitalizing on a Reddit-driven 10-fold rise in share prices and making one of the biggest exits in recent memory.

With companies like Reese Witherspoon’s Hello Sunshine seeking a buyer at a $1 billion valuation, according to the Wall Street Journal, and LeBron James’ SpringHill company also considering a sale (for around $750 million, the Information reported), industry experts told Insider they expect to see more private equity investment in talent-led shingles, despite the perceived risks in creative industries.

“The pandemic hastened all the trends that we were already seeing in the media and kind of acted as an accelerant to digital distribution and its effects on content monetization,” said Vania Schlogel, who founded private equity firm Atwater Capital in 2017 with a focus on innovative media and entertainment companies. “But it also has introduced new trends that we are still yet to fully comprehend.”

Insider has compiled a list of top private equity players tracking those trends and pouring money into Hollywood. This list is based on our reporting, including conversations with more than 15 investors and insiders. We considered factors like the success of the private equity firm, its depth of entertainment and media investments, and the profile of the investments themselves.

This list is organized alphabetically by firm: