New Mountain Capital Closes Majority Growth Investment In BMI

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New Mountain Capital, an investment firm with over $45 billion in assets under management, has completed its previously announced acquisition of BMI.

As part of the transaction, and in recognition of the creativity of the songwriters, composers and publishers they represent, BMI’s former shareholders will be allocating $100 million of the proceeds of the sale to affiliates. The allocation of those funds is expected to be made this spring, and while not a distribution of royalties, will be in keeping with BMI’s distribution methodologies, which are based on performance levels over a set period of time.

“Our partnership with New Mountain charts an incredibly exciting new course for BMI and our songwriters, composers and publishers,” says Mike O’Neill, who will remain President & CEO of BMI. “New Mountain shares our vision to build value for our affiliates and invest in their future success. With their support, advanced level of innovation and resources, we are now in the best possible position to accelerate our growth plan and explore new opportunities to benefit our creative community.”

Pete Masucci, Managing Director at New Mountain, states, “We are thrilled to officially begin our partnership with BMI. We believe in BMI’s mission and the music creators they represent, and we are looking forward to helping BMI build on their momentum to deliver maximum value to their affiliates.”

“Mike O’Neill and his team have set a dynamic path forward for BMI,” says Mike Oshinsky, Director at New Mountain. “We are excited to help modernize the performing rights space and support BMI’s mission of serving songwriters, composers and publishers and growing their royalty distributions for the long-term.”

Lorie Hollabaugh
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