Searchlight Capital Partners invested strategically in UMG-backed Chord Music Partners, joining Universal as a strategic backer.
Music Business Worldwide reports Chord raised over $2 billion in investable capital, with Searchlight contributing $400 million and another $1-2 billion expected before October close. UMG maintained its 26% stake with an additional €30 million investment this year.
Chord recently acquired stakes in Morgan Wallen’s catalog for over $200 million and manages catalogs from The Weeknd, Lorde, and David Guetta.
