KKR Invests In Music Catalogue Of Ryan Tedder And OneRepublic
KKR has agreed to acquire a majority stake of the music catalogue of Ryan Tedder, songwriter, musician, producer and lead vocalist of OneRepublic. The stake includes music publishing and recorded music rights.
The catalogue includes nearly 500 songs written, recorded or produced by three-time Grammy winner Tedder for OneRepublic and other artists, including songs Tedder has written with Beyonce, U2, Paul McCartney, Adele, Stevie Wonder, Ed Sheeran, Lady Gaga, Cardi B, Jonas Brothers, Thomas Rhett and all OneRepublic songs including “Apologize,” “Secrets” and “Counting Stars.”
“We are excited to partner with Ryan on both his extraordinary body of creative work and on pursuing future opportunities together. At KKR, we are focused on a number of investment initiatives across the music and entertainment industries and we believe Ryan’s unique combination of artistic brilliance and business acumen will help us amplify these efforts,” said Nat Zilkha, Partner at KKR and Chairman of Gibson Brands, a portfolio company of KKR.
“KKR’s collaborative approach across investment strategies allows us to provide highly flexible and creative capital solutions to artists and companies across the music and entertainment industry. We are looking forward to partnering with Ryan and other leading artists to support their art and innovation,” added Jenny Box, Partner at KKR.
Following the acquisition, Tedder will retain an interest in his music alongside KKR. Tedder’s management, Patriot Management, and artist development company mtheory, through its MTC Music Royalties fund, will also participate in the equity transaction. Interscope Records will continue to own the master recordings of OneRepublic.
KKR is investing in the catalog through its Dislocation Opportunities Fund and private credit vehicles. Latham & Watkins and FTI Consulting served as advisors to KKR on the transaction. Further terms were not disclosed.
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