Kobalt Sells Fund II, With Songs by the Weeknd, Lorde and More, to KKR Venture for $1.1 Billion
Jem Aswad Senior Music EditorAs expected, the global investment firm KKR andKobalt Capital Limited have announced that KKR, together with its co-invest partner, Dundee Partners, the investment office of the Hendel family, have purchased the KMR Music Royalties II portfolio from KCL for approximately $1.1 billion.The catalog includes over 62,000 music publishing copyrights, with songs by the Weeknd, Lorde and many more artists across multiple genres. According to the announcement, Kobalt Music Publishing will continue to administer and service the works in Fund II under a multi-year agreement.