Private equity giant Apollo Global Management has announced a $700 million investment in Sony Music Group.
Apollo did not provide details on the terms of the deal or how Sony would use the capital raised beyond “investing in the music industry.”
Apollo Partner Jamshid Ehsani said, “We are delighted to provide tailored capital solutions to an affiliate of one of the world’s leading companies. This investment will enable our client to invest in high-quality securities while helping Sony execute on its business plan.”
The Sony investment news comes after Apollo’s failed attempt to acquire Concorde’s Hypgnosis Songs fund earlier this year.
