HarbourView Equity Partners – an alternative asset management company focused on investment opportunities in the sports/media/entertainment space – announced it has raised about $500 million in debt financing through a private securitization backed by its diversified catalog of music royalties. Insurance vehicles and accounts managed by KKR led the financing and investment accounts advised by Kuvare Asset Management also joined.
KKR’s Asset-Based Finance (ABF) strategy focuses on privately originated and negotiated credit investments backed by large and diversified pools of financial and hard assets. It also offers diversification to traditional corporate credit and appealing risk-adjusted returns. KKR’s ABF platform started investing in 2016 and now has about $48 billion in ABF assets under management across its High-Grade ABF and Opportunistic ABF strategies.
Launched in 2021, Harbourview Equity Partners has quickly solidified its position in the industry, climbing to about $1.6 billion in regulatory-managed assets and establishing a diverse portfolio featuring thousands of titles spanning numerous genres, eras, and artists. The asset manager has acquired over 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. The diversified catalog also features over 28,000 songs across master recordings and publishing income streams.
This financing also emphasizes HarbourView’s commitment to delivering the best execution for its growing limited partner (LP) base and comes on the heels of numerous major deals, such as its $300 million credit facility expansion announced in December 2023.
Guggenheim Securities served as sole structuring advisor. And Guggenheim Securities and Barclays acted as co-placement agents on this deal.
KEY QUOTES:
“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. 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.”
- HarbourView Founder and CEO Sherrese Clarke Soares
“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. 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.”
- Avi Korn and Chris Mellia, Co-Heads of U.S. Asset-Based Finance at KKR
