Warner Music Group and Providence Equity Partners today announced plans to invest in world-class recorded music and music publishing catalogs via a newly established platform, Tempo Music Investments, that has raised $650 million. The move is similar in some ways to the launch of Hipgnosis, which launched last year and has raised more than $800 million to acquire full or partial stakes in the catalogs of many songwriters who have enjoyed multiple global hits.
Source: Warner Music, Providence Equity Launch $650 Million Fund to Invest in Song Catalogs