KKR (Kohlberg Kravis Roberts) is a true global investment giant, with over $230 billion (yes, billion) in assets under management.
Once upon a time, it had a material stake in the music business, until it sold its 51% holding in BMG to Bertelsmann in 2013 for approximately $1bn.
Last summer, KKR dipped its toe back into music rights by joining a $48m round in royalty-free music and content platform – and Epidemic Sound rival – Artlist.
Today, however, KKR has jumped back in the music biz in a much bigger way – announcing that it has bought a majority stake in a music catalog created by three-time Grammy winner Ryan Tedder.
How big a deal are we talking? Transaction details weren’t disclosed… but KKR is keen to remind us that, to date, songs written by Tedder have sold over 420 million copies, or the equivalent of 63 billion streams.
KKR says the Tedder catalog spans nearly 500 songs, covering both “music publishing and recorded music rights”.