Warner Music Group has partnered with private equity firm Providence to launch a new catalog investment platform called Tempo Music Investments
, has been enlisted to manage the assets in the Tempo portfolio and explore further investment opportunities.
"Music has always been the center of influence and culture, and it begins with great songwriters and artists," said Pizarro McLean in a statement to. "We are energized, passionate and confident about the opportunity we have to build a world-class platform supporting a creative community I so deeply care about."
Some of Tempo’s first acquisitions include select copyrights of songwriters Jeff Bhasker, Ben Rector and Shane McAnally. "My songs are second only to my kids in creating a legacy that I hope will live on long past me," said McAnally, whose co-publishing deal also includes future works., managing director at Providence, said, “It is a privilege to partner again with Warner Music Group.
Rhode Island-based Providence specializes in companies working in media, communications, education and information, and has a portfolio that includes Hulu, Topgolf and the Yankees Entertainment & Sports Network.
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