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Blackstone, a Kirkland-led firm, announces october 1bln agreement to invest in music

Blackstone, a Kirkland-led firm, announces october 1bln agreement to invest in music

  • Summary of the following information
  • Firms of law offer a wide range of services.
  • Kirkland advised Blackstone, a client for many years, and Kirkton has advised his long-time client.
  • Hipgnosis Song Management by Stephenson Harwood

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Blackstone Inc. has agreed a joint venture with advisory firm Hipgnosis Song Management Ltd., as private equity investors increase their bets on the music industry and online streaming. Kirkland & Ellis and Stephenson Harwood are advising Black Stone Inc on its agreement with hipgnoses Song management Ltd as music business owners increase stakes.

As part of the deal, which was announced on Tuesday, the firms will invest $1 billion to acquire music rights. Blackstone will also purchase a stake in Hipgnosis Song, formerly regarded as merely an advisor to the London-listed Hipgloss Songs Fund.

Blackstone has hired Kirkland, a long-time advisor with utmost involvement from corporate partners Francesca Harris, David Higgins, and Aprajita Dhundia, as their longtime partners. Seth Traxler, Rory Wellever, and Shellie Freedman, the asset manager's technology and intellectual property transactions partners, as well as RoRY WellEVER, are also advising the firm.

Stephenson Harwood's corporate partner Alex Haynes is directing Hipgnosis Song Management. Alexandra Pygall, an intellectual property partner, and John Meehan, a tax partner also form part of the firm's team.

Goldman Sachs, FTI, and Deloitte are other Blackstone advisors on the transaction. RBC and Capstan Capital Partners are also providing advice to Hipgnosis Song Management.

Hipgnosis was founded by Merck Mercuriadis, an ex-Elton John manager who now works for Hipgloss.

The companys cooperation with Blackstone comes during a year when dozens of other investment firms have dedicated money to purchasing music catalogs or controlling interests in music businesses.

KKR & Co said in January that it has acquired a majority stake in Ryan Tedder and American pop rock band OneRepublics music catalog, with support from Latham." Watkins, who also support the deal.

Pershing Square Capital Management hedge fund, headed by billionaire William Ackman, purchased a 10% stake in Universal Music Group from Vivendi SE. Sullivan & Cromwell; Cadwalader, Wickersham etamp. Taft; Cabinet Bompoint; Cleary Gottlieb Steen n  Hamilton; and Freshfields Bruckhaus Deringer were initially involved in the transaction.

Read more:

Blackstone, Hipgnosis partner to invest in music as online streaming booms, says Hipnew.

KKR invests $200 million on OneRepublic frontman Ryan Tedder's catalog.

Universal Music has bought a further 2.9% stake in Universal for $1.15 billion in Pershing Square.

Sierra Jackson, Sierra, Jackson. Sierra.

Sierra Jackson writes about legal issues in major mergers and acquisitions, including deal negotiations, litigation, and regulatory changes. Reach her at sierra.jackson@thomsonreuters.com or sira.johnson at serrajacks@hotmail.net.

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