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Blackstone has spread the name of Hipgonosis for his $ 3 billion music investment group because it is preparing to start buying less than a year after earning the rights of listed owners in the UK by Red Hot Chile Chile and Shakira.
The US Private Equity Group has re-branded his music in the organization of such music to recognize his music investment business, which will own and manage a portfolio of more than 45,000 songs and recording from 145-Plus catalogs.
The group has the right to material by songwriters and artists, including Fleetwood Mac, Blue Young and Justin Bieber.
Ben Katovsky, CEO of the recognition, says the new operation will work on “fundamentally different” on the way when there were three separate businesses.
The group will combine the songs and recordings of its funds to its fund Hypnosis and previously listed. Hipganosis song fundsWhich Blackstone took personal last year.
The Deal for hypnosis song funds After the bidding fight between Apollo-backed US investment group Concord and Blackstone, which have finally won with more than $ 1.6 billion bids.
The new group also included the management of hipgonosis songs, which was previously an investor for both funds. People know the wealth of this group more than $ 3 billion, known to people.
Hipganosis was originally founded by the former band manager Mark Maruriadis In 2018. It has tried to make music rights into a mainstream resource class by earning income for investors from streaming, radio play and performance.
Kasim Abbas, a senior managing director of Blackstone, told the Financial Times that it would like to achieve more new music portfolio for the future agencies.
He said that Blackstone is “assumable long -term cash flow profile” for the rights of the Blackstone music right “assets are committed to the resource class and market”. He added that in recognition, the company was now ready to create its position as a “top independent investor in music rights”.
In November last year, the Blackstone completed the $ 1.5bn securities in the former Hipganosis Group, which is the largest issuing of Debt for music rights so far.
Abbas said: “Both equity investors, as well as equity investors, are interested in the market. The market is more mature and the institutionalization continues. “
Katovsky said that recognition was now a consolidated organization that owns the music and directed that music, adding it “fundamentally different” from the previous one.
Katovsky added that the group had already invested in technology to increase the value of the property. Investments will encourage the use of elements on film and television and help collect royalty around the world, he said.
Katovsky has added, “Unique Benefits” has recognized the scale of the combined business as one of the largest owners of music rights.
“We have a strong ambition for growth,” he said, “he added that adding recognition would be electoral about its acquisition.
“We are going to do these at the intelligent price points and we are also trying to maintain the quality of our portfolio,” Katovsky said.
