A couple of weeks ago, acquisitive London-based music rights company Bella Figura Music closed “a significant equity funding round” led by private equity firm Freshstream.
The round also secured investments from a consortium of institutional investors, including the Canadian pension fund OPTrust, a strategic family office and a Dutch private equity investor.
Freshstream is an existing shareholder in the company, having invested ‘upwards of EUR €30 million’ (approx. USD$32.6 million) in Bella Figura in early 2023 according to a profile in The Times.
Now, Bella Figura Music, founded by Alexi Cory-Smith and Neelesh Prabhu in 2022, has acquired well-known independent London-headquartered RAK Publishing (RAK).
Bella Figura Music has confirmed that it has spent over USD $80 million on music rights to date, including the latest deal for RAK.
RAK was founded in 1969 by record producer Mickie Most and his wife Christina and now represents over a hundred writers, including the Ivor Novello Winner Errol Brown and BASCA Gold Badge recipients Steve Harley and Suzi Quatro.
RAK’s catalog of over 1,500 copyrights spans over 50 years and includes hits such as You Sexy Thing recorded by Hot Chocolate, Make Me Smile (Come Up And See Me) recorded by Steve Harley & The Cockney Rebel, I Love Rock ‘n’ Roll recorded by Joan Jett and the Blackhearts, Kids in America recorded by Kim Wilde, Music recorded by John Miles, and many others.
In a statement issued on Monday (April 22), Bella Figura Music’s Co-Founder & CEO Alexi Cory-Smith said the “deal ranks among the proudest achievements of my career”.
In the last six months, Bella Figura Music has acquired the catalogs of Jeff Silverman (Aloe Blacc, Adele, Lee Fields, Truth & Soul) and Adrian Wright (The Human League).
These build upon the company’s existing collection of catalogs, including David Gray’s record label IHT, R3HAB’s pre-2022 recordings catalog, and Guy Chambers’ publishing catalog, which includes Robbie Williams hits such as Angels, Feel, and Let Me Entertain You.
“I am so happy that the Bella Figura Music team are taking the reins as they share the ethos of being boutique and I know that they will take great care of such wonderful songs.”
Nathalie Hayes, RAK Group
Nathalie Hayes, MD of RAK Group of Companies said: “My parents started RAK Publishing 55 years ago. I grew up knowing so many of the RAK writers as they were often on holiday with us! It has been an absolute honor to look after such an amazing catalog for the last 26 years.
“I am so happy that the Bella Figura Music team are taking the reins as they share the ethos of being boutique and I know that they will take great care of such wonderful songs”
“RAK is a British Music icon and it’s no exaggeration to say that this deal ranks among the proudest achievements of my career. I pinch myself every day, realizing Bella Figura is now part of it, and we will work our socks off to look after and promote their amazing legacy.”
Alexi Cory-Smith, Bella Figura Music
Alexi Cory-Smith, Co-Founder & CEO of Bella Figura Music added: “I’ve been a fan of the RAK catalog for many years. I have loved these songs and artists since I was a kid.”
Added Cory-Smith: “I was mesmerized by Errol Brown when I watched Hot Chocolate on Top of the Pops as a young girl – people don’t appreciate how groundbreaking and important a band they were/are; but we have plans for that – and I just wanted to be Kim Wilde – I got suspended from school for cutting off and peroxiding my hair to look like hers (I was about 13), when Kids in America came out.
“RAK is a British Music icon and it’s no exaggeration to say that this deal ranks among the proudest achievements of my career. I pinch myself every day, realizing Bella Figura is now part of it, and we will work our socks off to look after and promote their amazing legacy.”Music Business Worldwide
