Sat. Apr 10th, 2021

The CEO of a billion-dollar participant within the acquisitive music fund house simply left the constructing.

MBW has discovered that Sherrese Clarke Soares is exiting her function as CEO of Tempo Music Investments, a heavily-financed rival to the likes of Hipgnosis Songs Fund, Spherical Hill Music, and Major Wave. Soares says she is departing Tempo to launch her personal enterprise.

New York-based Tempo is a portfolio firm of Windfall Fairness Companions. Tempo publicly arrived on the scene in November 2019, when it launched with $650 million to spend on music copyrights through fairness and debt capability, with many of the fairness coming from Windfall.

At the moment, the fund introduced it had partnered with Warner Music Group to deal with distribution of its recorded music belongings, and administration of its publishing rights.

In response to its web site, Tempo Music Investments’ “intensive portfolio” now options “work by world artists together with Bruno Mars, Alicia Keys, Jonas Brothers, Florida Georgia Line, Thomas Rhett, Ariana Grande, Pink, and plenty of extra”.

The web site additionally claims that Tempo has over $1 billion of investible capital at its disposal, suggesting it has added vital funds to its war-chest since that December 2019 announcement.

The Tempo web site reads: “We share a perception that content material is Queen. As established leaders and traders we’re actively pursuing alternatives derived from the distribution and consumption of world content material, throughout all genres.”

When Tempo was launched in 2019, it was revealed that the corporate had already acquired the music publishing catalogs of songwriter/producers Jeff Bhasker, Shane McAnally, and Ben Rector.

These belongings are understood to themselves have been acquired from Affect Media Companions, which used Morgan Stanley cash to purchase them within the first place in 2018.

Previous to launching Tempo, Sherrese Clarke Soares spent over 10 years at Morgan Stanley, most not too long ago because the founder and head of the funding big’s Leisure, Media, & Sports activities Structured Options division, specializing in mental property belongings.

In a notice to colleagues despatched yesterday (January 28) and obtained by MBW, Clarke Soares wrote: “Being the founding father of Tempo woke up my entrepreneurial spirit and has been one of many main highlights of my profession. Regardless of the birthing of Tempo because of a number of years of laborious work at Morgan Stanley, I made the choice to resign as CEO to begin my very own enterprise.”

She added: “As lots of you realize, what’s Tempo as we speak began from a clean piece of paper and a name from an expensive buddy and colleague, Drew Hawkins, in 2015. None of what was achieved at Tempo may have been finished with out having distinctive companions – my colleagues at Morgan Stanley, my mates at Warner Music Group, and the workforce at Windfall.”

“Regardless of the birthing of Tempo because of a number of years of laborious work at Morgan Stanley, I made the choice to resign as CEO to begin my very own enterprise.”

Sherrese Clarke Soares

Noting that Tempo was “well-positioned for future success”, Clarke Soares continued: “2020 taught me so much about religion, resilience, perseverance, and intention. In a 12 months with a lot uncertainty and disruption to our every day lives, 2020 offered me with excessive readability to give attention to what’s essential. As such, I’m off to pursue the subsequent chapter, constructing an funding platform that would be the fruits of my values and my learnings over the past 20+ years.”

In the meantime, the music catalog acquisitions house continues to warmth up: yesterday, Major Wave introduced it had totally acquired Solar Information and its catalog of masters together with traditional tracks by Johnny Money and Jerry Lee Lewis.

Sherrese Clarke Soares was this week named in Billboard‘s new annual 100 government listing, Change Brokers.Music Enterprise Worldwide

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