HarbourView Equity Partners, an alternative asset management company focused on investment opportunities in the sports, media and entertainment space, secured approximately $500 million in debt financing through a private securitization backed by its catalog of music royalties. Insurance vehicles and accounts managed by KKR 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,” Sherrese Clarke Soares, founder and CEO of HarbourView, said. “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,” Avi Korn and Chris Mellia, co-heads of U.S. asset-based finance at KKR, said in a joint statement. “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.”
Established in 2021, HarbourView has amassed roughly $1.6 billion in regulatory managed assets. The asset manager has acquired more than 50 catalogs, including those of Pat Benatar and Neil Giraldo, Fleetwood Mac’s Christine McVie, Wiz Khalifa, Brad Paisley, Jeremih, Nelly, Luis Fonsi, Eslabon Armado and more. The company’s catalog features more than 28,000 songs across both master recordings and publishing income streams.
Guggenheim Securities served as sole structuring advisor and Guggenheim Securities and Barclays acted as co-placement agents on this transaction.
