Blackstone, one of the world’s biggest asset managers, is testing what has been a frothy market for so-called performance rights. The company owns a portfolio of businesses led by SESAC, which collects royalties for thousands of songwriters.
Blackstone has hired financial advisers to explore the sale of song rights, including music from Bob Dylan, Adele and Ariana Grande, that it expects to fetch US$3 billion ($4.1 billion) or more, people with knowledge of the matter said.
A handful of financial firms, including Apollo Global Management, Warburg Pincus and Temasek Holdings have expressed interest in the assets, said the people, who asked not to be identified discussing private deliberations. There’s no guarantee the parties will reach a deal.
