NEW YORK (CelebrityAccess) — Independent rights management and publisher Kobalt Music announced a new partnership with a Morgan Stanley-managed investment fund with plans to invest more than $700 million to acquire music copyrights.
The terms of the partnership will see Kobalt manage the creative, sync, licensing, administrative, and investment services for copyrights.
“Kobalt is a pioneer in investing in music, increasing the value of copyrights, and creating music as a viable asset class,” said Laurent Hubert, Chief Executive Officer, Kobalt. “Morgan Stanley Tactical Value’s trust in Kobalt is a testament to our platform and leadership in the music industry. We are proud to form this unique partnership.”
“Morgan Stanley Tactical Value has profound respect for songwriters and the immense value of their art,” said Cameron Smalls, Managing Director, Morgan Stanley Tactical Value. “We are thrilled to partner with the leading creator-first publisher that is a pioneer in maximizing royalty collections for songwriters and rightsholders. Together with Kobalt’s infrastructure and deep commitment to bettering the music industry, we are excited about our partnership and the opportunities ahead.”
The deal follows the acquisition of a controlling stake in Kobalt by the private equity firm Francisco Partners in 2022 for a reported $750 million.
