Ares has committed $750m to Firebird Music’s new catalog acquisition platform, partnering with The Raine Group to target recorded music and publishing assets.

The capital package includes $350m of equity from Ares, Firebird, and Raine, and $400m of debt supplied by Pinnacle. The structure is designed to purchase royalty streams and other music‑related assets.

The deal follows Ares’ April 2025 co‑lead of a $500m raise for Gold State Music and reflects its $644bn AUM at the end of March 2026. Music‑rights investors have poured billions into catalogues, while valuations are stabilising after years of record‑breaking deals.

Firebird, founded in 2022 by Nat Zilkha and Nathan Hubbard, manages 1,000 artists and holds stakes in Red Light Management, Mick Management, and Transgressive Records. The partnershipmissions Ares and expanded Raine stake boosts Firebird’s buying power and deepens ties to artists and songwriters. This partnership positions Firebird to capture high‑yield catalogues amid rising competition.