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Barometer to launch global music royalty fund

Friday, March 12, 2021
Opalesque Industry Update - Toronto-based active investment manager Barometer Capital Management Inc. is launching a new investment fund - the Barometer Global Music Royalty Fund LP.

The Fund will invest in a diversified portfolio of attractive music copyrights with a strong track record of earnings and also invest in new music copyrights through artist development projects to increase growth. The Fund will seek to generate income and capital gains by acquiring catalogs of high quality, globally successful, enduring music copyrights and royalty streams with a focus on Canadian creators. The Fund is scheduled to launch on April 1, 2021.

Barometer has partnered with Kilometre Music Group Inc. to manage the Fund. Kilometre is led by music industry veterans Michael McCarty, Gavin Brown and Rodney Murphy.

Michael is a well-respected music publisher who was inducted into the Canadian Music Hall of Fame in 2019. He was president of EMI Music Publishing Canada for 17 years and most recently, was the Chief Membership Officer at SOCAN for 7 years. Gavin is an accomplished songwriter and record producer whose work has been nominated for 37 Junos over his career and is attached to 50 #1 hits across different genres. Rodney is a 17-year veteran of SOCAN, Canada's largest music rights management organization, where he managed royalties for the "Who's Who" of the Canadian global hit makers.

This Kilometre Team has a proven track record of generating strong returns from music royalties and deep relationships with some of the most successful artists in the world.

The Fund intends to benefit from the recorded music industry's growth from streaming. Total music royalty revenues grew 11% in 2019 (31% from streaming) and are expected to double over the next decade as music subscriptions continue to increase.

The Kilometre Team has a high-quality pipeline of unique and proprietary opportunities to acquire. The Fund offers a low correlation to the returns of most traditional and alternative asset classes and seeks to generate predictable, stable cash flow and to deliver a premium at exit.

Investors in Canada can participate in the Fund by buying limited partnership interests of the Barometer Canadian Music Royalty Fund LP, which will invest in the Fund.

Press release

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