Apollo Global Management, a massive private equity firm, has made a $700 million investment in Sony Music Group, a well-known record company, giving its clients the chance to purchase “high grade” alternative assets.
The conditions of Apollo’s agreement with Sony, which represents performers like Lil Nas X and Celine Dion, were not disclosed.
The music sector has become more appealing as investors go beyond conventional assets like equities and bonds due to the growing desire for alternative investments, which has made it a popular asset class for Wall Street firms in recent years.
Read also- India-Based Nasher Miles $4 Million in Series A Bridge Round Funding
Big names in finance are profiting from the lucrative streaming rights and cash flows that this sector provides.
Read also- Iraq-Based Corrsy has Secured $500K in Pre-Seed Round Funding
“This investment allows our clients to invest in high grade securities while helping Sony to execute its business plans,” said Jamshid Ehsani, a partner at Apollo said.
Apollo had additionally supported the investment firm HarbourView Equity Partners in 2021, which concentrated on media and entertainment.
About Sony
Sony has a very clear goal. The mission of our company is to utilise technology and creativity to bring emotion to every corner of the globe. The objective is to be the cause of our clients’ joyful smiles, racing hearts, and inspired ambition. They are inspired to develop ground-breaking technology, entertainment, and services for people all over the world by this challenge and our innovative spirit.
