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 acquisition comes shortly after Blackstone's $1.6 billion purchase of Hipgnosis Songs Fund in July 2024.

The Blackstone-led group will obtain over two-thirds of Citrin Cooperman, with Blackstone's individual stake remaining under 50% to ensure regulatory compliance and maintain audit independence. Citrin Cooperman serves more than 15,000 global clients across tax, advisory, and accounting services.

The firm gained prominence in music industry valuations following its January 2022 acquisition of Massarsky Consulting, which specialized in catalog appraisals. Citrin Cooperman subsequently handled valuations for Hipgnosis Songs Fund, though their methodology faced some controversy during HSF's takeover battle last year.

Alan Badey, Citrin's CEO, emphasized that Blackstone's investment will support expanded service offerings and technology improvements while maintaining the firm's commitment to client service excellence.

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

• Hipgnosis's recent $1.5 billion ABS issuance in November 2024
• New Mountain Capital's acquisition of BMI
• Reported interest in Vivid Seats from potential buyers
• SESAC reportedly fielding offers from interested parties

The deal strengthens Blackstone's position in the music industry while providing Citrin Cooperman with resources for future growth and service expansion.

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