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Mubadala Part of Group to Buy EMI Music Publishing

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According to the press release, “An investor group comprised of Sony Corporation of America (“SCA”), in conjunction with the Estate of Michael Jackson; Mubadala Development Company PJSC; Jynwel Capital Limited; the Blackstone Group’s GSO Capital Partners LP; and David Geffen (the “Group”) announced today the execution of a definitive agreement, whereby the Group will acquire EMI Music Publishing from a wholly-owned subsidiary of Citigroup, Inc. (“Citi”) for total consideration of $2.2 billion.

The transaction is subject to certain closing conditions, including regulatory approvals. Following the acquisition, Sony/ATV Music Publishing and its strong and experienced management team will help oversee EMI Music Publishing on behalf of the Group. Sony/ATV Music Publishing is co-owned by subsidiaries of SCA and trusts formed by the Estate of Michael Jackson.

EMI Music Publishing is a world-leading popular music publisher with a vast collection of musical compositions and a roster of highly talented songwriters. The business represents and administers one of the world’s most comprehensive and diverse catalogs of over 1.3 million music copyrights covering all genres, periods and territories of the world.

EMI Music Publishing represents some of the most successful writers working in the music industry today including Beyoné, Drake, Jay-Z, Norah Jones, Alicia Keys, P!nk, Scissor Sisters, Rihanna, Stargate, Usher, Kanye West, Pharrell Williams, Tinie Tempah, Duffy, Arcade Fire, Dallas Davidson, Don Omar, Alan Jackson and Hillary Scott. Its remarkable catalog spans the decades with some of the greatest hits dating from the early 20th century right up to today. EMI Music Publishing holds rights to some of the greatest Motown hits from the 1960s including Baby Love, Heard It Through The Grapevine, and My Girl, as well as other timeless standards, such as Bohemian Rhapsody, Every Breath You Take and You’ve Got A Friend. Its catalog is home to a wide range of film and TV scores, including some of the most recognizable songs of all time such as New York, New York, Over the Rainbow and Have Yourself A Merry Little Christmas.”

Read more: Sony Press Release

SWFI First Read, December 10, 2018

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IMF Bentham Opens New London Office

IMF Bentham Limited opened a new London office called IMF Litigation Funding Services Limited. The division will provide litigation finance, investment capital and strategic services for disputes in the EMEA region, which includes the United Kingdom, Europe, Middle East, and Africa.

Falck Renewables Buys Portfolio of Windfarms in France

A subsidiary of Falck Renewables acquired a portfolio of five onshore windfarms in north-eastern and western France from a fund affiliated with Glennmont Partners for €37 million. The sale was due to the fund’s divestment plan. These windfarms are located in Bois Ballay, Les Coudrays, Mazeray, Eol Team, and Noyales.

Carlos Ghosn Charged by Japanese Prosecutors

Japan government prosecutors indicted Carlos Ghosn, the former chairman of Nissan Motor, and the auto company. The indictment accuses the parties of violating Japanese financial laws by underreporting his compensation. Nissan disclosed Ghosn’s misconduct which included underreporting his compensation and using corporate funds for personal expenses.

OIF Plans to Go Defensive on Public Equities

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First Inning on Augmented Reality a Strike for SWFs

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Augmented reality (AR), which is not the same as virtual reality, is an industry that sovereign wealth capital has slowly permeated. The impressive technology has not made inroads into mainstream U.S. culture – remember Google’s efforts with Google Glasses. However, these augmented reality glasses may have industrial purposes such as in car production or logistics.

Malaysia’s Khazanah Nasional Berhad backed London-based Blippar, an augmented reality studio company. Blippar appears to be on the brink of financial collapse, according to a number of media sources. There is a dispute between investors Khazanah and Nick Candy, in which the SWF had blocked emergency fundraising. This fundraising effort would have most likely lowered Khazanah’s equity stake. In June 2018, Blippar raised an extra £20 million from investors to keep things running. David Rubin & Partners LLP was hired by Blippar as insolvency practitioners.

Magic Leap

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PREVIEW COVER: January Issue of the Sovereign Wealth Quarterly

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Here is a mockup cover of the next issue of the Sovereign Wealth Quarterly, the top publication on sovereign funds, pensions, and other institutional investors.

For advertising opportunities: https://www.swfinstitute.org/advertise/

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