Apollo announced on July 26, 2024, that it has provided a $700 million capital solution to Sony Music Group, an affiliate of Sony Group Corporation, on behalf of its affiliated and third-party insurance clients and other investors. This investment aims to support Sony’s business plans in the music industry, leveraging the booming demand for alternative investments. Apollo Partner Jamshid Ehsani highlighted that this bespoke capital solution allows clients to invest in high-grade securities while aiding Sony in executing its strategic initiatives. Although the specific terms of the deal were not disclosed, the investment underscores the growing appeal of the music industry as a lucrative asset class for Wall Street firms.
Apollo is a high-growth, global alternative asset manager with approximately $671 billion in assets under management as of March 31, 2024. The firm focuses on three investing strategies: yield, hybrid, and equity, providing innovative capital solutions across the risk-reward spectrum. Apollo’s expertise spans over three decades, serving the financial return needs of its clients and supporting businesses’ growth. Through its retirement services business, Athene, Apollo helps clients achieve financial security with a suite of retirement savings products. This latest investment in Sony Music Group aligns with Apollo’s commitment to expanding opportunities and achieving positive outcomes for its clients and the communities it impacts.
