HarbourView Fairness Companions has elevated its present credit score facility to $300 million after Financial institution of America joined the syndicate alongside Fifth Third Financial institution.
Different first-time contributors embody Barclays Plc and First Financial institution & Belief Co., in keeping with an announcement offered to Bloomberg Information. Harbourview will use the newly acquired $100 million debt capability to proceed shopping for music royalty belongings. Fifth Third financial institution stays the lead arranger and bookrunner for HarbourView.
“As capital circumstances evolve, we’re grateful for the continued help of our banking companions who’ve helped help HarborView’s super progress since inception,” says Founder & CEO Sherrese Clarke Soares. HarbourView was based in 2021 to hunt acquisitions of media and leisure belongings, buying greater than 45 music catalogs comprising round 26,000 songs. A few of these purchases embody the publishing catalog of Luis Fonsi and the publishing catalog of Dre & Vidal.
“HarbourView stays dedicated to offering one of the best execution for our rising LP base, in opposition to a comparatively difficult market setting,” provides HarbourView Head of Capital Markets Carlos Cruz. “We’re grateful to each our new and present financing companions for his or her dedication to HarbourView’s success.”
Most lately, HarbourView acquired a group of Kane Brown’s publishing catalog in November 2023. Different music acquisitions embody recording and publishing belongings from artists together with Pat Benatar, Neil Giraldo, Christine McVie, Brad Paisley, Florida Georgia Line, and lots of extra. In July 2023, the corporate acquired choose recording belongings of songwriter and music producer Blackbear. It has additionally amassed a catalog of music rights within the hip-hop area, putting a take care of Wiz Khalifa for “choose recording music and publishing belongings.”
HarbourView seeks to be the trade customary for investing in belongings and corporations pushed by premier mental property. The corporate launched in 2021 with a best-in-class workforce with many years of funding expertise and experience in and round esoteric asset courses together with music, movie, television, and sports activities.