NEWARK, N.J.--(BUSINESS WIRE)--Mar. 13, 2024--
HarbourView Equity Partners (HarbourView), an industry-leading alternative asset management company focused on investment opportunities in the sports, media and entertainment space, has secured approximately $500 million in debt financing through a private securitization backed by its diversified catalog of music royalties. Insurance vehicles and accounts managed by KKR, a leading global investment firm, led the financing and investment accounts advised by Kuvare Asset Management also participated in the transaction.
“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,” said HarbourView Founder and CEO Sherrese Clarke Soares. “This capital will allow us to further our mission of investing in assets and companies driven by premier intellectual property while striving to ensure that creators are appropriately valued for their contributions to the world.”
“This transaction is a testament to the scale and versatility of our High-Grade Asset-Based Finance strategy, which is a fast-growing segment of our private credit business,” said Avi Korn and Chris Mellia, Co-Heads of U.S. Asset-Based Finance at KKR. “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.”
KKR’s Asset-Based Finance (ABF) strategy focuses on privately originated and negotiated credit investments that are backed by large and diversified pools of financial and hard assets, offering diversification to traditional corporate credit and attractive risk-adjusted returns. KKR’s ABF platform began investing in 2016 and now has approximately $48 billion in ABF assets under management globally across its High-Grade ABF and Opportunistic ABF strategies.
Established in 2021, HarbourView Equity Partners has quickly solidified its position in the industry, amassing roughly $1.6 billion* in regulatory managed assets and establishing a distinctly diverse portfolio featuring thousands of titles spanning numerous genres, eras, and artists. The asset manager has acquired 50+ catalogs including Pat Benatar and Neil Giraldo, Fleetwood Mac’s Christine McVie, Wiz Khalifa, Brad Paisley, Jeremih, Nelly, Luis Fonsi, Eslabon Armado and more. Their diversified catalog features ~28,100+ songs across both master recordings and publishing income streams.
The financing further emphasizes HarbourView's commitment to delivering the best execution for its growing LP base and comes on the heels of numerous major deals, including its $300 million credit facility expansion announced in December 2023.
Guggenheim Securities, LLC served as sole structuring advisor, and Guggenheim Securities, LLC and Barclays acted as co-placement agents on this transaction.
About HarbourView Equity Partners
HarbourView Equity Partners is an investment firm, founded by Sherrese Clarke Soares, focused on the entertainment and media markets. The firm seeks businesses or assets powered by IP and investment opportunities that aim to build enduring value and returns. HarbourView has been extremely active since launching in 2021, acquiring over 50 music catalogs to date. The firm's distinctly diverse portfolio features thousands of titles spanning numerous genres, eras, and artists, amounting to a diversified catalog of ~28,100+ songs across both master recordings and publishing income streams. In addition to music, HarbourView is focused on opportunities to support premium content across the entertainment, sports, and media sectors. The company is headquartered in Newark, NJ.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
*Regulatory AUM for private funds are calculated regardless of the nature of the gross assets under management. This includes any uncalled committed capital pursuant to an obligation to make a capital contribution to the fund.
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Media:
For HarbourView:
The Lede Company
|
harbourview@ledecompany.com
For KKR: Julia Kosygina | +1 212-750-8300 | Media@kkr.com
Source: HarbourView Equity Partners
