Songs were sold to Iconic Artists Group
Iconic Artists Group (Iconic), a company dedicated to preserving and amplifying the legacies of legendary artists, today announced its new partnership with Sir Rod Stewart CBE and a strategic investment from HPS Investment Partners (HPS), a leading global investment firm with $107 billion in assets under management.
Iconic has finalized a wide-ranging cross-media partnership with Rod Stewart to acquire, develop, and expand his six-decade musical legacy to new generations of fans. A two-time inductee into the Rock & Roll Hall of Fame and one of music’s best-selling artists, the landmark arrangement encompasses Stewart’s songs spanning his monumental solo career, as well as tenure in two iconic groups, the Faces and Jeff Beck Group. At Iconic, Stewart joins the star-studded Iconic roster, which includes The Beach Boys, Cher, Joe Cocker, Nat King Cole, David Crosby, Dan Fogelberg, Dean Martin, Graham Nash, Linda Ronstadt, and Stephen Stills.
The investment from HPS, together with senior debt financing from third parties, provides Iconic with access to $1 billion of capital as Iconic acquires and manages a diverse portfolio of legendary artists’ music assets. With HPS’ support, Iconic will further solidify its position as the trusted partner of choice for artists and their estates seeking to maximize the value of their portfolios and ensure their music continues to inspire and resonate with audiences for generations to come.
Stewart’s extraordinary catalog includes ten No. 1 albums and 31 Top 10 singles in the UK, six of which reached No. 1 plus 17 Top 10 albums, with four reaching No. 1 and 16 Top 10 singles in the US Billboard ranked him as the 15th Greatest Artist of all time (sixth among male soloist), he’s also the 13th Greatest Billboard 200 Artist of all time, the second most successful British solo artist of all-time, and has charted an extraordinary six consecutive decades with million-selling studio albums. On February 23rd, he will release his 32nd studio album, Swing Fever, a timeless salute to the songs of the big band years, in collaboration with Jools Holland and his Rhythm & Blues Orchestra, on Warner Records. His world tour continues in 2024, and he will conclude his critically acclaimed 13-year Las Vegas residency at The Colosseum at Caesars Palace on its 200th show this summer.
“This year marks my 60th year in the music industry. The time is right, and I feel fortunate to have found partners in Irving and his team at Iconic that I can entrust with my life’s work and future musical legacy,” Stewart shares.
“We are thrilled to welcome one of the most celebrated singer-songwriters of our time, Rod Stewart, to the Iconic family,” adds Irving Azoff, Chairman and CEO of Iconic. “Our new partnership with HPS provides us with the resources and flexibility to make blockbuster signings like this one and to continue the success of our legendary artists and their legacies.”
“Iconic has built an impressive platform and artist portfolio, and we are pleased to provide financing that will enable the company to further scale its business and advance its mission of championing the rights of musical talent,” comments Scot French, Governing Partner at HPS.
Artisan and Moelis acted as financial advisors to Iconic, and Gibson Dunn and Alter, Kendrick & Baron acted as legal advisors. Jackoway Tyerman acted as counsel to Rod Stewart. Lisbeth R. Barron and the team at Barron International Group, LLC acted as financial advisor to HPS Investment Partners, and Latham & Watkins acted as legal advisor.
