Private equity giant KKR & Co and former Goldman Sachs partner Stephen Hendel's family office have bought Kobalt Capital's music rights portfolio for about $1.1 billion, the companies said on Tuesday.
As top K-pop bands get ready to go back on stage or live stream new shows after being sidelined by the pandemic, their fans discover the global chip crisis has also caught up with the world of catchy tunes, glitzy outfits and elaborate dance routines.
Investment banks in South Korea have pocketed record fees from equity underwriting this year thanks to a boom in initial public offerings (IPOs), data showed - and bankers are betting a buzzing deal pipeline means a continued near-term surge.
Scepticism about initial public offerings of high-growth companies has crossed La Manche. Shares in Believe (BLV.PA) fell 13% on Thursday morning after the French digital music company raised 300 million euros to finance acquisitions, 40% less than it originally sought. Believe, which distributes and markets niche artists as well as famous Gallic rapper Jul, had also priced its IPO at the bottom of the indicated range.