Earlier this month, MBW reported that Apollo World Administration is partially financing Sony Music Group’s $1 billion-plus acquisition of Queen Information, senior music trade sources inform us.
In the present day (July 26), Apollo confirmed that it’s a US$700 million “Capital Options” Sony Music Group.
Apollo mentioned this “capital answer” is designed to fund “investments within the music trade”.
Jamshid Ehsani, Accomplice at Apollo, mentioned: “We’re happy to offer personalized capital options to a subsidiary of one of many world’s main firms. This funding allows our shoppers to put money into high-quality securities whereas serving to Sony execute its marketing strategy.”
As we reported on July 4, Apollo The corporate has roughly $671 billion in property below administration and has turn into lively in different areas of the music rights market lately.
In 2022, Apollo led what it mentioned was the “largest ever” ABS (asset-backed securities) deal concordwhen the latter agency costs US$1.8 billion The bond difficulty is backed by greater than 1 million music rights.
In the meantime, in 2021, former Tempo Music CEO Sherry Clark Suarez settings Hong Kong View Fairness Companions With help from Apollo. HarborView has amassed approx. $1.6 billion In “Regulatory Managed Property”.
Apollo additionally not too long ago supported concord The latter firm is bidding for the property of Hipgnosis Songs Fund (HSF).
Harmony formally withdrew from the HSF bidding warfare in Might, and world funding big Blackstone turned the frontrunner within the HSF acquisition warfare.
Earlier than this end result happens, Apollo Debt and minority fairness have been dedicated to the bidding entity (Harmony Refrain Ltd), which supplied US$1.51 billion Acquisition of HSF.
Earlier at present, Hipgnosis Music Fund Affirmation that it’s going to delist from the London Inventory Alternate subsequent week successfully supplies a rubber stamp for Blackstone to accumulate HSF.
It’s understood that Sony Music Group will buy Queen’s world music publishing rights, their “identify and likeness rights”, and their recorded music rights – together with their recording rights outdoors North America, and their grasp rights outdoors North America. Regionally owned. disney music group.world music enterprise
