Private equity investor Howard Lipson and music entrepreneur James Diener have formed a new financial firm focused on music creators with funding from BlackRock, Inc. (NYSE: BLK).
Alignment Artist Capital will offer established music artists a new financing option to expand their brands and careers, growth and fund creative projects.
With equity funding from BlackRock Alternative Investors (BAI) accounts, Alignment will work with artists who have built a foundation of creative and business initiatives such as recorded music, songwriting, producing, touring, TV and film, merchandising and licensing, social media and more.
It will build a diversified portfolio of structured investments in targeted artist and related entities that will initially range from $5 million to $20 million per transaction. In turn, artists who receive capital from Alignment will have access to funding for a diverse set of revenue streams and to help them pursue business objectives under a new model that co-exists with the industry’s existing recording, publishing and touring agreements.
Joining Diener and Lipson on the Alignment Artist Capital Board of Directors is Matt Botein, Global Co-Head and Chief Investment Officer, BlackRock Alternative Investors, and BAI Managing Director Patrick Riordan.
Katherine Chen joined as Chief Investment Officer.
FinSMEs
09/04/2015