Blackstone and investment partners have acquired a majority stake in Citrin Cooperman, a leading music IP valuation firm, in a deal reportedly worth $2 billion. The transaction gives the Blackstone-led group over two-thirds ownership of the company, with Blackstone's individual stake remaining under 50% to avoid regulatory complications.

Citrin Cooperman, established 46 years ago, serves over 15,000 global clients with tax, advisory, and accounting services. The firm gained prominence in the music industry following its 2022 acquisition of Massarsky Consulting, becoming a key player in song rights valuations, notably for Hipgnosis Songs Fund (HSF).

The deal marks a significant milestone for Blackstone, which recently acquired HSF for $1.6 billion in July 2024. HSF subsequently launched a $1.5 billion ABS in November 2024, partially aimed at funding future song-rights acquisitions.

Alan Badey, Citrin's CEO, emphasized that Blackstone's investment will support the company's expansion plans: "Blackstone will help us make additional investments in expanded service offerings and technology as we deliver on our continued commitment to best-in-class firm culture and providing an exceptional client experience."

This acquisition reflects the broader trend of private equity interest in the music sector, with other notable developments including:

• New Mountain Capital's acquisition of BMI
• Potential sale of Vivid Seats to interested buyers
• Blackstone reportedly considering offers for SESAC

The deal positions Citrin Cooperman for continued growth in the music IP valuation space while strengthening Blackstone's presence in the music industry ecosystem.

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