Singapore’s sovereign wealth fund GIC has partnered with Sony Music Group to acquire music catalog assets, the parties said on Thursday.
The statement said the partnership will combine the operational capabilities of Sony Music Group, the music arm of Japanese conglomerate Sony Group, with GIC‘s long-term capital to manage potential assets.
Bloomberg News reported that the vehicle could include $2 billion to $3 billion in investment. GIC and Sony did not provide an amount in the statement.
“We are excited about the next stage of streaming monetization through premiumization and subscriber growth in emerging markets,” said Girish Karira, Head of Integrated Strategies Group at GIC.
The deal adds to a broader wave of institutional capital flowing into music assets, with Warner Music Group setting up a joint venture with Bain Capital last July to purchase up to $1.2 billion of music catalogs.
Sony Music Group also teamed up with Apollo Global Management in 2024 to secure a $700 million investment, allowing Apollo’s clients to invest in “high grade” alternative assets.
Reuters
