KKR-led consortium tipped again to buy Kobalt songs catalogue


Earlier this week, we reported on speculation that Kobalt was in the late stages of negotiations to sell its Kobalt Music Royalty Fund II catalogue for around $1bn. Investment firm KKR was highlighted as the most likely buyer – or at least part of a group likely to buy the catalogue. Now there is more information on that potential deal.

The Financial Times reported that KKR will lead a consortium to buy the catalogue for around $1.1bn, with the family office of former Goldman Sachs partner Stephen Hendel also involved.

“Negotiations were advanced and a deal could be announced as soon as this week,” claimed the FT, adding that bids had also been made for the catalogue by a group led by Apollo Global Management (the company that has just ponied up $1bn for HarbourView Equity Partners to spend on music and media rights), and by Eldridge Industries.

Meanwhile, another piece of speculation from earlier this month has come true: investment firm Blackstone and Hipgnosis Song Management have confirmed their own billion-dollar partnership for acquiring rights and managing music catalogues.

Written by: Stuart Dredge