BMG and Concord completed their merger earlier this month, and new details show the transaction was supported by $1.25 billion in equity capital from Apollo, the alternative asset-management firm.
Apollo said its managed funds and affiliates provided “a $1.25 billion equity capital solution” to support the merger. The firm acquired a “noncontrolling interest” in the BMG subsidiary that holds the legacy Concord ABS (asset-backed securities).
Apollo has provided financing to Concord since 2022. The firm said it has “originated over $8 billion in music industry investments” as part of that relationship.
Apollo also provided $700 million of capital to Sony Music Group in mid-2024 for catalogue investments.
When the merger completed, the combined company, which operates under the BMG brand, said it was targeting $2.5 billion in annual revenue and owns a catalogue of more than 4 million works.
