Business & Finance
Raleigh Music Publishing and ICM Crescendo Establish Catalog Acquisition Joint Venture
The partnership pairs Raleigh's industry sourcing and administration with ICM's investment capital to acquire music publishing catalogs.
The short version
- Raleigh Music Publishing and ICM Crescendo Music Royalty Fund have launched a joint venture to acquire and manage music publishing catalogs.
- Under the agreement, ICM Crescendo will provide dedicated investment capital, while Raleigh will source, administer, and hold an equity stake in the acquired catalogs.
- The companies plan to announce further catalog acquisitions in the near future, building on their previous joint acquisition of the Kal Mann catalog.
Key facts
- Raleigh Music Publishing and ICM Crescendo Music Royalty Fund have established a joint venture to acquire music publishing catalogs.[Billboard]
- ICM Crescendo will supply the acquisition capital, while Raleigh will oversee catalog sourcing and administration, receiving an equity stake in the acquired properties.[Billboard]
- The joint venture follows a prior collaboration between the two firms to buy the Kal Mann catalog, which contains Chubby Checker's 'Let's Twist Again' and a sample share of House of Pain's 'Jump Around.'[Billboard]
- Raleigh Music is led by co-presidents Peter Raleigh and Steven Storch, who formerly held roles at Cherry Lane, Imagem, and Sony Music Publishing.[Billboard]
- ICM Crescendo is managed by Canadian alternative investment firm ICM Asset Management, which oversees over $2 billion in assets.[Billboard]