Sony Music Group and GIC, the Singapore sovereign investment fund, have formed an investment partnership to acquire and market music catalog assets. According to the announcement, the partnership will invest in high‑quality marquee catalogs across a range of genres.
“Partnering with GIC brings together long‑term capital and Sony Music Group’s operational capabilities to acquire and manage premier catalogs, creating new opportunities for artists’ and songwriters’ music globally,” Sony Music chief operating officer Kevin Kelleher said in a statement.
Various press reports say GIC has anywhere from $700 billion to $800 billion in assets under management.
According to the announcement, GIC has been investing in the music industry for nearly a decade, evaluating opportunities across companies, catalogs, and music‑focused funds since 2017, although details weren’t provided. Various press reports say GIC oversees anywhere from $700 billion to $800 billion in assets under management across a wide spectrum of investments.
“As a long‑term investor, GIC seeks to be a creative and flexible capital partner to strategic industry leaders like Sony,” GIC head of integrated strategies group Girish Karira said in a statement. “The music ecosystem is a resilient sector with attractive long‑term growth prospects, and we are excited about the next stage of streaming monetization through premiumization and subscriber growth in emerging markets. This investment alongside Sony Music Group, a leading global player with deep industry expertise and strong operational capabilities, builds on GIC’s longstanding relationship with Sony Group, which we look forward to further strengthening.”
In addition, the announcement noted that Sony Bank Inc., a subsidiary of Sony Financial Holdings, is also participating in the investment partnership.
This isn’t the first time that Sony Music Group has partnered with a sovereign investment fund. Back in 2011, it was part of a consortium of investors that included Mubadala Investment Company, the United Arab Emirates sovereign wealth fund that bought EMI Music Publishing. Subsequent to that investment, in 2018 Sony bought out that consortium to assume 100% ownership of EMI Music Publishing, which it then fully merged into Sony Music Publishing.
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