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Tuesday, April 16, 2024

Firebird Holdings confirms investments in Mick Management, Lex Borrero’s Ntertain, Defected, more

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Firebird Music Holdings has appeared a number of instances in MBW headlines over the previous yr.

In September final yr, we solely revealed that the US firm had acquired a minority stake in Coran Capshaw’s Pink Gentle Administration.

Two months later, we found that Firebird had purchased a considerable stake in UK-headquartered Transgressive Information.

Immediately (June 6), Firebird – co-founded by ex-KKR Associate Nat Zilkha and ex-Ticketmaster CEO Nathan Hubbard, with Raine Group as its lead investor – has revealed the names of quite a lot of different music and music-adjacent corporations wherein it has acquired stakes.

These embody Ntertain, a Latin-focused content material and media firm co-founded by entrepreneur Lex Borrero, producer Tainy, and music enterprise legend Tommy Mottola.

(Exterior of Ntertain, Lex Borrero runs music corporations together with expertise administration home NEON16, which he beforehand advised MBW is aiming to turn out to be “the Roc Nation or the Unhealthy Boy of Latin music”).

Different corporations wherein Firebird has acquired stakes, in keeping with a brand new article in Billboard, embody US-based Mick Management – whose roster consists of Maggie Rogers, Carly Rae Jepsen, Mandy Moore, David Grey, and Hamilton Leithauser – plus UK-based dance music label Defected.

As well as, Firebird has acquired stakes in Nashville-based music writer Tape Room Music – based by songwriter Ashley Gorley – plus UK-based One Two Many Music.

Nathaniel Nat Zilkha KKR

“[Firebird] has entry to over $1 billion of capital proper now… [and has spent] a number of hundred million {dollars} buying stakes in corporations.”

Nat Zilkha, talking to Billboard

Nat Zilkha tells Billboard that though Firebird has struck some minority-equity transactions, “most of [the deals we have done] is purchase majority stakes”.

He provides that Firebird has “entry to over $1 billion of capital proper now” and has spent “a number of hundred tens of millions of {dollars}” buying stakes in corporations to this point.

A slide inside a deck despatched out by Firebird to acquisition prospects, seen final yr by MBW, acknowledged: “Firebird has artist administration at its core”.

This method, mentioned the deck, permits Firebird to “profit from all income streams” surrounding an artist, together with “streaming, stay, IP gross sales, and many others.”

Throughout his 15-year profession at KKR, Nat Zilkha led or co-led KKR Credit score from 2013 – 2020, throughout which period property below administration grew from $13 billion to over $80 billion.

He additionally co-founded KKR’s Particular Conditions and Opportunistic technique.

On his LinkedIn profile, Zilkha writes: “We constructed Firebird to align with premium expertise and empower them with shared ardour for music, fashionable model activation capabilities and scale monetary capital.

“We companion with artists, managers, unbiased labels & publishers and expertise suppliers to create an built-in ecosystem the place creatives thrive.”Music Enterprise Worldwide

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