The company says the duo will help it connect with a broader community of artists and “source and secure early access to premium music rights investment deals."
“As institutional investors, it comes down to what is your time horizon?” says Concord CEO Scott Valentine.
The Billboard Global Music Index dropped 0.8% this week to 1,348.41, bringing the year-to-date gain to 15.5%.
The purchase includes Lillywhite's share of royalties from albums by U2, Dave Matthews Band, The Rolling Stones and more.
