Warner Music, Providence Equity Launch $650 Million Fund to Invest in Song Catalogs

Warner Music Group and Providence Equity Partners today announced plans to invest in world-class recorded music and music publishing catalogs via a newly established platform, Tempo Music Investmen…

and Providence Equity Partners today announced plans to invest in world-class recorded music and music publishing catalogs via a newly established platform, Tempo Music Investments, that sources tell Variety has raised $650 million.

Tempo was launched with $650 million in equity and debt capacity, with most of the equity coming from Providence, an investment firm specializing in the media, communications, education and information industries. WMG will handle administration for music publishing and distribution for recorded music, drawing on its vast, deep-rooted music industry expertise, resources and network.

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