Blackstone and Hipgnosis Song Management have launched a new $1bn (£736m) partnership, backed by funds managed by Blackstone, to acquire music rights and manage catalogues.
The partnership will see Blackstone take an ownership stake in Hipgnosis, as well as supporting the company's expansion of both infrastructure and business functions. This will include the "the development of new song management expertise, data science capabilities and technology solutions". Blackstone was advised on the transaction by Goldman Sachs, FTI, Kirkland & Ellis and Deloitte. Hipgnosis was advised by RBC, Capstan Capital Partners and Stephenson Harwood. Alternative investments: Music royalties are hitting the right note Merck Mercuriadis, CEO of Hipgnosis, said: "Hipgn...
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