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Laxman Pai, Opalesque Asia: Pophouse Entertainment, the Sweden-based music investment firm co-founded by ABBA's Bjorn Ulvaeus, has raised over EUR 1.2 billion (USD 1.3 billion) for its debut fund.
The entertainment sector-focused investment firm said in a media release that Pophouse Fund I raised over €1 billion ($1.1 billion), reaching its hard cap and making it, Pophouse, claimed, "one of the largest first-time private equity funds to be raised in Europe in the last decade".
Pophouse Entertainment Group raised an additional €200 million through dedicated co-investment vehicles.
Pophouse acquires and develops entertainment brands, focusing on music catalog investments. According to its website, the firm specializes in publishing rights, recording rights, and name, image, and likeness rights.
The global entertainment and music investment firm said it has already deployed about 30% of the fund via partnerships with artists such as American rock band KISS, pop singer Cyndi Lauper, and Swedish electronic dance music artists Avicii and Swedish House Mafia.
Pophouse, founded by ABBA's Bjorn Ulvaeus and EQT founder Conni Jonsson, is led by CEO Per Sundin and chaired by Lennart Blecher, EQT's Head of Real Assets. Per, a former Managing Director of Universal Music Sweden and President of Universal Music Nordic Region, was the first label executive to partner with Spotify, driving the industry shift to a streaming revenue model, and signed Avicii when he wa...................... To view our full article Click here
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