Carlyle Backs Content Partners With New Capital Through Continuation Vehicle

Global investment firm Carlyle has completed a single-asset continuation vehicle for Content Partners LLC, providing fresh capital to support the media investor’s expansion across film and television assets.

The transaction, announced on June 16, gives existing investors the option either to realise liquidity or maintain exposure to Content Partners’ future growth, while also attracting commitments from new third-party investors and funds managed by Carlyle’s Global Credit platform. Financial terms of the deal were not disclosed. 

Content Partners, founded in 2006 by Steven Blume and Steven Kram, specialises in acquiring interests in film, television and music assets that generate recurring cash flows. The Los Angeles-based company currently manages a portfolio comprising more than 800 motion pictures and over 3,000 hours of television programming, making it the largest independent owner of major studio-distributed content. 

The continuation vehicle follows Carlyle’s initial investment in the business in 2022, during which time Content Partners has expanded its library through a series of acquisitions and strategic growth initiatives. The new capital is expected to accelerate the company’s acquisition strategy as demand for premium content libraries continues to rise amid the proliferation of streaming platforms and global distribution channels. 

Benjamin Fund, a partner at Carlyle, said the firm’s continued backing reflects confidence in the long-duration and largely uncorrelated cash flows generated by premium film and television assets. Content Partners’ management said the transaction would provide additional firepower to pursue further acquisitions while offering existing investors attractive liquidity options. 

Carlyle’s Global Credit platform managed approximately $209 billion in assets as of March 31, 2026, while the firm oversaw total assets under management of $475 billion across its private equity, credit and investment solutions businesses. Ads do not influence the answers you get from ChatGPT. Your chats stay private. Learn about ads and personalization