Founded in 2021, HarbourView Equity Partners has acquired over 45 music catalogs to date and owns a catalog of over 26,000 songs, encompassing both master recordings and publishing income streams.
Now, the company, led by former Tempo Music CEO Sherrese Clarke Soares, has amended its senior secured credit facility, led by Fifth Third Bank, to buy more music rights.
Under the amended facility, HarbourView’s credit facility capacity has been increased by $100 million to $300 million (from $200m).
The firm says that it will use the additional funding to continue acquiring music royalty assets and for “general corporate purposes”.
HarbourView also says that three new lenders “were added to the syndicate” including Bank of America as a new joint lead arranger, Barclays, and First Bank & Trust Company, joining existing lenders California Bank & Trust, MUFG Bank, Regions Bank and BankUnited.
Fifth Third Bank remains lead arranger, sole bookrunner and administrative agent.
HarbourView has been particularly active in the music rights-buying space over the past few months.
Just last month, country star Kane Brown sold ‘select publishing assets‘ to the company.
Some of the firm’s other recent deals include Christine McVie’s share of Fleetwood Mac’s recorded music royalties from the late artist’s estate and a share of “select” recorded music and publishing assets from Grammy Award-winning artists Pat Benatar and Neil Giraldo.
Elsewhere, in July, the company acquired select recorded assets and the publishing catalog of multi-platinum-selling, singer, songwriter, and music producer Blackbear.
“HarbourView remains committed to providing the best execution for our growing LP base, against a relatively challenging market environment.”
Carlos Cruz, HarbourView
“HarbourView remains committed to providing the best execution for our growing LP base, against a relatively challenging market environment,” said HarbourView Head of Capital Markets Carlos Cruz
“We are thankful to both our new and existing financing partners for their commitment to HarbourView’s success.”
“As capital conditions evolve, we are grateful for the continued support of our banking partners who have helped support HarbourView’s tremendous growth since inception.”
Sherrese Clarke Soares, HarbourView
HarbourView CEO and Founder Sherrese Clarke Soares, added: “As capital conditions evolve, we are grateful for the continued support of our banking partners who have helped support HarbourView’s tremendous growth since inception.”
HarbourView has also amassed a catalog of music rights in the hip-hop space, striking a deal in July for the “select recorded music and publishing assets” of Wiz Khalifa.
News of that deal arrived just hours after HarbourView announced that it had acquired “select recorded music assets” of Grammy Award-winning rapper, Nelly.
The company secured Big Loud Mountain Music’s publisher share of select songs from the catalog of country music duo Florida Georgia Line and the music publishing catalog of Incubus.
HarbourView also acquired the catalog of SoundHouse Acquisitions LLC in 2022 for a reported $325 million.
The firm says on its website that it has up to $1 billion of investable capital.
HarbourView was founded in 2021 by former Tempo Music CEO Sherrese Clarke Soares with backing from Apollo Global Management.Music Business Worldwide