Moore & Van Allen Represents Fifth Third Bank in the Financing of the Acquisition of Chord Music Partners
Moore & Van Allen PLLC (MVA) is pleased to announce that the firm acted as lead legal counsel to Fifth Third Bank in connection with the financing of the acquisition of Chord Music Partners by Dundee Partners and Universal Music Group (UMG), the world’s largest music company.
The committed financing for the $240 million deal closed on March 20, formalizing Dundee Partner’s majority interest and UMG’s acquisition of a 25.8% interest in Chord, one of the largest independent catalogs of music publishing rights. The deal values Chord, which was formed in 2021 by KKR and Dundee Partners, at $1.85 billion. Following completion of the transaction, KKR will exit Chord.
Entertainment Finance Member Brett E. Moskowitz acted as lead counsel to Fifth Third Bank and worked alongside an interdisciplinary team of MVA attorneys to bring the deal to fruition, including Joshua “Josh” W. Ohaus, Hunter F. Revord, Lauren D. Nelson, Aaron A. Marshall, Paul G. Murphy, and Stephen “Win” G. Porter who advised on finance transaction documents; Stephen E. Gruendel, who advised on structuring matters; Jared W. Poplin and Sierra H. Lyda, who advised on acquisition considerations; John E. Slaughter, who advised on intellectual property matters; and Robert “Rob” A. Fisher and Christian N. Herring, who advised on tax aspects.
“It was an honor to advise and partner with Fifth Third on the complexities of this monumental deal. We are pleased with the outcome and for all parties involved,” said Moskowitz.
The financing was arranged by Fifth Third’s market-leading Entertainment Lending group.
Chord’s portfolio includes works from artists such as Beyoncé, The Weeknd, David Guetta, Lorde, Kid Cudi, Maroon 5, Ellie Goulding, ZZ Top, John Legend, and many more.
Moskowitz joined MVA in early 2024 in order to expand the firm’s financial services practice, specifically in the entertainment finance realm. He has more than a decade of experience advising financial institutions, financiers, and borrowers in complex media transactions. In addition to representing the industry’s most notable agent banks in syndicated financings, he has considerable experience advising other financial institutions and investors in entertainment finance matters, including music catalog finance, record label finance, music fund finance, and television, motion picture, and sports finance.