Private equity giant Apollo invests $700 million in Sony Music

Internal most equity behemoth Apollo World Management has invested $700 million in excessive-profile file tag Sony Music Team, allowing its purchasers a possibility to make investments in “excessive grade” different assets.

Apollo did no longer demonstrate the terms of the address Sony, which works with artists much like Lil Nas X and Celine Dion.

Booming query for different investments has boosted the allure of the music industry as patrons gaze beyond ragged assets much like stocks and bonds, making it a favored asset class for Wall Facet road corporations recently.

Heavyweights of the financial world are benefiting from the profitable streaming rights and cash flows the industry provides.

“This funding allows our purchasers to make investments in excessive grade securities while serving to Sony to score its industry plans,” acknowledged Jamshid Ehsani, a accomplice at Apollo acknowledged on Friday.

Apollo had also backed media and leisure-focused funding firm HarbourView Fairness Partners in 2021.