HarbourView Equity Partners, a global alternative asset management firm specializing in the sports, media, and entertainment sectors, has successfully secured approximately $500 million in debt financing.
This strategic move is backed by a diversified catalog of music royalties and marks a significant milestone for the company in leveraging intellectual property assets.
The financing was led by insurance vehicles and accounts managed by KKR, a global investment powerhouse, with participation from investment accounts advised by Kuvare Asset Management.
This innovative financing structure is aimed at supporting HarbourView’s expansion and its ongoing mission to invest in high-value assets and companies driven by premier intellectual property.
“We are grateful to KKR for working with us to deliver a flexible and innovative financing structure that will support HarbourView in expanding its reach,” stated HarbourView Founder and CEO, Sherrese Clarke Soares.
This capital infusion will enable HarbourView to further its commitment to ensuring creators are appropriately compensated for their contributions.
KKR’s involvement in the transaction underscores the versatility and scale of its High-Grade Asset-Based Finance strategy, which is a rapidly expanding segment of its private credit business.
“Music IP is one of many areas where we see opportunity, and we are pleased to finance a scaled and high-quality portfolio in this space,” commented Avi Korn and Chris Mellia, Co-Heads of U.S. Asset-Based Finance at KKR.
KKR’s Asset-Based Finance strategy focuses on diversification and attractive risk-adjusted returns through investments backed by diversified pools of financial and hard assets.
Since its establishment in 2021, HarbourView has quickly made its mark in the industry, amassing roughly $1.6 billion in regulatory managed assets and acquiring over 50 music catalogs from renowned artists such as Pat Benatar, Neil Giraldo, Fleetwood Mac’s Christine McVie, and Wiz Khalifa, to name a few.
The firm’s portfolio now boasts approximately 28,100 songs across master recordings and publishing income streams, highlighting its diverse and strategic investment approach.
This financing deal, facilitated by Guggenheim Securities, LLC as the sole structuring advisor, and with Guggenheim Securities, LLC and Barclays acting as co-placement agents, represents a continuation of HarbourView’s aggressive growth strategy.
It follows a series of major transactions, including a $300 million credit facility expansion announced in December 2023, further emphasizing the firm’s commitment to excellence in execution for its growing investor base. – PEVCJournal.com