Round Hill says it has completed funding for Round Hill Music Royalty Fund II, with equity commitments of $263 million. Moreover, it says more than $100 million of it has been deployed already, mainly as part of the $245 million funding needed to pay for the recently completed Carlin America acquisition.
The company also said it had made an investment in the catalog of country songwriter Dallas Davidson with funds from Royaly Fund II. The company previously had raised over $250 million in equity commitments for Round Hill Royalty Fund 1, back in 2012.
“Since inception, Round Hill has made over 100 investments and acquired approximately $465 million of music copyright assets, demonstrating our strong track record of executing deals and adding value, which is appealing to both investors and the music marketplace,” Round Hill president Neil Gillis said in a statement. “Our hands-on approach, passion for music, value-add capabilities like with Zync Powered by Round Hill, Round Hill Nashville and our other internal divisions serve to make Round Hill the music rights company of choice for songwriters and other sellers of copyrights.”
The company says it has spent over $250 million in acquiring music rights, including publishing, master recordings and neighboring rights. Moreover, it says that Round Hill Fund 1, which owns songs by the Beatles, Rolling Stones, Frank Sinatra, James Brown, Bruno Mars, Tim McGraw, Aerosmith, N Sync, Pat Benatar, the Four Tops, James Taylor, Marvin Gaye, The Offspring, Blake Shelton, and Carrie Underwood has generated over $55 million in royalty income since inceptions.
“I am pleased with the strong level of support we have received from both new and existing investors in Round Hill Music Royalty Fund II,” Round Hill CEO Joshua Gruss said in a statement. “Our business has been successful due to the tireless work of our highly experienced management team, deep institutional approach, high level of GP commitment and robust internal platform to collect, license and administer music royalties.”
News of the Round Hill funding commitment was first reported by Reuters.