Shamrock, the investment firm that bought Taylor Swift’s masters, sells minority stake

US-based investment firm Shamrock Capital is best known in the music business for buying blockbuster rights (like Taylor Swift’s first six albums, which it acquired for approximately $300 million in November 2021).

This week, Los Angeles-based Shamrock announced that it is selling what it calls a “passive minority stake interest” in its company.

According to the press release grant On Wednesday (October 26), Shamrock is selling that interest to RidgeLake Partners, a strategic partnership between Ottawa Avenue Private Capital and Apogem Capital, and Bonaccord Capital Partners.

Shamrock Capital, according to its website, has $3.8 million in assets under management, investing exclusively in media, entertainment, media and related sectors through what it calls a “strategic strategy.” multi-fund strategy focused on private equity investments, as well as ownership and financing of media and content rights”.

The company was originally founded in 1978 as the family investment firm for the late Roy E. Disney and has since grown into an institutionally backed company.

In 2020, MBW reported that Shamrock Capital has raised $400 million in a new fund — and plans to spend that money on entertainment IP, including music rights.

In November of that year, Shamrock hit a$300 million deal buying the main rights to Taylor Swift’s first six albums.

Prior to Swift’s acquisition of the masters, one of the biggest music-related acquisitions for Shamrock took place in 2018, when the company acquired a music publishing catalog owned by Stargate – author of hits for Rihanna, Beyoncé, Katy Perry and more.

Shamrock says that the transaction announced this week will provide it with “long-term capital to support the continued growth and institutionalization of the platform.”

It added that “there will be no change” in the investment, day-to-day management or operations of the company.

In June 2021, the company is headquartered in Los Angeles close the door a $1 billion growth fund, Shamrock Capital Growth Fund V.

In July 2021, Shamrock lift up a new $196 million fund to provide a loan structure to intellectual property owners – i.e. advance funds that they will repay (with interest) through future royalties .

According to the press release, RidgeLake is focused on acquiring minority stakes in top mid-market private equity firms. Bonaccord, meanwhile, a subsidiary of P10, Inc., is a private equity platform dedicated to the acquisition of non-controlling equity interests in mid-market private-market sponsors . Bonaccord Capital Partners has $41 billion in assets under management website.

Evercore served as financial advisor and Kirkland & Ellis LLP served as legal counsel for Shamrock.

“RridgeLake and Bonaccord’s strategic investment in Shamrock is an important milestone in the continued growth of our business.”

Steve Royer, Shamrock Capital

Steve Royer, President at Shamrock Capital, said: “RridgeLake and Bonaccord’s strategic investment in Shamrock is an important milestone in the continued growth of our business.

“RidgeLake and its affiliates have invested with Shamrock since 2005 and have been our trusted partner throughout the company’s growth.

“We are excited about the opportunity to expand our relationship with RidgeLake and look forward to a fruitful partnership with Bonaccord, as we believe these companies align well with our long-term vision for Shamrock. “

“The depth of Shamrock’s relationships and experience in Shamrock’s core markets is unmatched and we believe in their ability to partner with growth companies, founders and creators. globally will continue to grow in the coming years.”

Todd Milligan, RidgeLake Partners

Todd Milligan, Co-Chair of RidgeLake Partners, added: “The depth of Shamrock’s relationships and experience in Shamrock’s core markets is unmatched and we believe their ability to collaborate. With growth companies, founders and creators globally will continue to grow in the years to come.

“We are excited to partner with Shamrock and look forward to supporting the successful, long-term growth of their unique investment platform,” adds Michael Lunt, Co-Chair of RidgeLake Partners.

“We believe in Shamrock’s vision and we look forward to actively partnering with Shamrock to support Shamrock’s long-term strategic goals.”

Ajay Chitkara, Bonaccord

Ajay Chitkara, Managing Partner at Bonaccord, said: “We are proud to invest in Shamrock Capital, an exceptional mid-market funder with a consistent track record in investing in quality assets. high across media, entertainment and media, delivering limited partnership results for over twenty years.

“We believe in Shamrock’s vision and we look forward to actively partnering with Shamrock to support Shamrock’s long-term strategic goals.”

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