Kobalt has announced its second managed fund to invest in music copyrights, with a capacity of $600m thanks to $345m of equity commitments plus debt.
It follows the company’s first music-royalties fund, which invested more than $350m after launching in 2011. The funds are managed through Kobalt subsidiary Kobalt Capital, with British pension fund RPMI Railpen leading the new investment fund.
“Having crossed six years of activity in the first fund we have made over 100 investments and delivered attractive returns to our investors,” said Kobalt Capital boss Johan Ahlström in a statement. “With the backing of prominent institutional investors, it validates our strategy and outlook for a robust music industry that is trending upward.”
Kobalt stressed, again, that it is keeping the fund separate to its own publishing business to avoid conflicts of interest.