Apollo pumps $700m into Sony Music Group partnership for 'investments in the music industry'. It's a kind of magic!
Apollo Global Management has confirmed its role as the lead investor in a new $700 million capital solution for Sony Music Group, aimed at funding investments in the music industry. This announcement follows reports that Apollo partly financed Sony's recent $1 billion acquisition of Queen's catalog.
Apollo Partner Jamshid Ehsani stated, “We are pleased to provide a bespoke capital solution to an affiliate of one of the world’s leading companies. This investment allows our clients to invest in high-grade securities while helping Sony to execute its business plans.”
Apollo, managing approximately $671 billion in assets, has been increasingly active in the music rights market. Notable actions include leading a record $1.8 billion asset-backed securities transaction for Concord in 2022 and supporting HarbourView Equity Partners, which was established by former Tempo Music CEO Sherrese Clarke Soares.
Additionally, Apollo backed Concord's bid to acquire assets from Hipgnosis Songs Fund, although Concord later withdrew, leaving Blackstone as the frontrunner in the acquisition.
Sony Music Group is expected to acquire Queen's global music publishing rights, their ‘name and likeness’ rights, and recording interests, including copyrights outside North America, where Disney Music Group retains ownership of their masters.
