Apollo Backs BMG & Concord Integration With $1.25 Billion in Financing – Billboard

The deal gives Apollo a minority interest in part of Concord’s old catalog, which is now owned by BMG. Trending on Billboard Apollo Global Management has provided $1.25 billion from funds it manages to support the smooth integration of Concord into BMG, and in exchange Apollo becomes a minority investor in part of Concord’s old catalog, the company announced Thursday (Sept. 17). Apollo has been Concord’s primary partner in issuing asset backed securities (ABS), with the global investment firm having handled four Concord ABS notes worth more than $4.5 billion combined since 2022. Part of the financing Apollo committed will go to repaying some of Concord’s outstanding ABS debt, while Apollo will get equity in a BMG subsidiary that holds the old Concord ABS and the songs that were used to collateralize the security. Related “The combination of BMG and Concord marks a defining moment in our company’s evolution,” said Bob Valentine, CEO of BMG and formerly head of Concord. “Apollo’s continued partnership and confidence in our strategy further strengthens our financial foundation and positions us to champion artists and songwriters, and to pursue global long-term growth opportunities. Together, we are building a stronger global music company with the scale
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