Blackstone and Merck Mercuriadis' Hipgnosis Song Management have partnered to acquire music rights and catalogs, with $1b in the war chest. Blackstone will take an ownership stake in HSM and support the expansion of its infrastructure and business functions.

Song is expected to benefit from Blackstone’s investment in HSM’s management capabilities and will have the right to co-invest in catalog acquisitions alongside the Blackstone/HSM partnership.

Mercuriadis, CEO of HSM, said: “This new partnership with Blackstone will deliver financial strength to invest in proven songs as well as grow our song management team and bring additional sophistication to HSM. Given the strength of our pipeline, we see the initial commitment as just the start of a long-term partnership between Blackstone and Hipgnosis that will also include co-investment with Song.”

Qasim Abbas, Senior Managing Director, Blackstone Tactical Opportunities, said: “The music industry has been at the forefront of the fast-growing streaming economy and is unlocking new ways of consuming content. We look forward to working with Merck and his team to continue their exciting journey and safeguard the legacy of the songwriters that entrust us with their content.”