Pipeline, the $200 million-backed indie music financing platform launched by Matt Spetzler’s investment firm Jamen Capital, has acquired the core assets and intellectual property of valuation firm Clarty Partners LLC.
Clarty was founded in 2023 by former BMG senior executives Stéphane Hubert and Pierre Suignard.
The acquisition brings Clarty’s proprietary valuation technology, royalty ingestion systems, and analytical infrastructure into Pipeline’s operations.
The deal marks an early strategic move for Pipeline, which launched in late January. At launch, Pipeline said it aims to become the “largest funder of independent music globally”.
Pipeline emerged from stealth after more than a year of development. The company said it aims to address an “imbalance” between the independent music sector and major music corporations.
Following its public launch, Pipeline struck a partnership with indie licensing agency Merlin in January to give its members access to advances against digital royalties.
Pipeline said that Stéphane Hubert and Pierre Suignard developed proprietary systems to “ingest and normalize royalty data, forecast earnings across publishing and recorded revenue streams, and support catalog transactions and due diligence for rightsholders and investors”.
Financial terms of the acquisition were not disclosed.
The transaction excludes any proprietary client data or confidential information linked to Clarty’s prior advisory mandates.
For Pipeline, the company said the integration will enhance its ability to structure music advances and asset-backed transactions using valuation methodologies commonly deployed by IP funds and catalog acquirers.
The deal converts Pipeline from a financing vehicle into what it describes as a “data-driven, end-to-end music asset financing platform”.
Following the deal, Hubert and Suignard will join Pipeline to lead its investment underwriting division.
Hubert will also take a seat on the company’s Investment Committee.
“With Clarty, we found a comprehensive underwriting solution combining data technology, robust analytical tools, and proven music valuation expertise. We are pleased to welcome Stéphane and Pierre as core members of our founding team.”
Matt Spetzler, Jamen Capital/Pipeline
Matt Spetzler, Founding Partner of Jamen Capital and Co-Founder and Executive Chairman of Pipeline, said: “With Clarty, we found a comprehensive underwriting solution combining data technology, robust analytical tools, and proven music valuation expertise. We are pleased to welcome Stéphane and Pierre as core members of our founding team.”
“Joining Pipeline is an exciting next chapter and a unique opportunity to scale and professionalize the IP analytics platform we’ve been building, alongside a team with a clear and compelling vision.”
Stéphane Hubert, Clarty Partners
Stéphane Hubert said: “Joining Pipeline is an exciting next chapter and a unique opportunity to scale and professionalize the IP analytics platform we’ve been building, alongside a team with a clear and compelling vision.”
As MBW previously reported, Spetzler is well known in the music financing space.
He has completed more than 10 investments in music/audio, totaling over $5 billion in value, and currently serves on the boards of companies including Kobalt, Soundtrack, Recognition Music Group, and Muse Group.
Before launching Jamen Capital, Spetzler was a Partner and Co-Head of Europe at private equity firm Francisco Partners, where he played a key role in the firm’s ~$750 million majority acquisition of Kobalt Music Group in 2022.
Jamen Capital is a media and IP-focused investment firm. Pipeline says it has assembled a leadership team with “decades of combined experience across music, investing, finance and technology”, which has “evaluated, invested in, or operated more than $8 billion in music IP, spanning labels, publishing, distribution, and analytics businesses”.
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